May 22nd, 2024

Biofuel groups urge Treasury to issue guidance on 45Z tax credit

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By Erin Voegele

a few seconds ago

Sustainable Aviation FuelsAdvanced BiofuelsPolicy

A group of 25 trade organizations on May 15 sent a letter to Treasury Secretary Janet Yellen urging the agency to release guidance for the 45Z clean fuels production tax credit along with any necessary updated GREET models.

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The House Committee on Agriculture on May 17 released a discussion draft of its version of the 2024 Farm Bill, formally titled the “Farm, Food, and National Security Act of 2024.” The committee is scheduled begin markup of the bill on May 23.

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More than 2.06 billion RINs were generated under the Renewable Fuel Standard in April, up from 1.84 billion generated during the same month of last year, according to data released by the U.S. EPA on May 16.

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Iowa Gov. Kim Reynolds on May 9 signed legislation that, in part, boosts funding for the state’s renewable fuel infrastructure program that helps retail fuel stations install equipment to supply higher blends of ethanol and biodiesel.

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Calumet Specialty Products Partners L.P. on May 10 reported that operations at its Montana Renewables biorefinery improved sequentially through Q1 and was operating at planned production levels in April, producing both renewable diesel and SAF.

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Tidewater Renewables Ltd. on May 9 reported that its renewable diesel facility in Prince George, British Columbia operated well during the first quarter. The company also made significant progress on FEED for its proposed SAF project.

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Vertex Energy Inc. on May 9 announced it will cease renewable diesel production at its refinery in Mobile, Alabama, and return the previously converted hydrocracker unit to fossil fuel production later this year.

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Clean Fuels Alliance America announced an uptick in membership reflecting growing interest in low-carbon liquid fuels in addition to recent changes within its governing board.

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The USDA currently predicts soybean oil use in biofuel production will increase by 1 billion pounds to 14 billion pounds for 2024-25, according to the agency’s latest World Agricultural Supply and Demand Estimates Report, released May 10.

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A full range of new Volvo truck models can now be powered by 100% biodiesel, offering another renewable fuel choice for customers looking to reduce CO2 emissions from transport here and now.

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Emirates has taken delivery of SAF from Shell Aviation at London Heathrow Airport. Over 3,000 metric tons of neat SAF, blended with conventional jet fuel, will be supplied into the fueling infrastructure network of the airport.

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GROWMARK Inc. has partnered with Optimus Technologies Inc., to test biodiesel in five semi-tractors in GROWMARK’s Manito Transit fleet as a potential pathway for transitioning the entire fleet to low-carbon fuels.

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