SHOW ME THE MONEY:Funding of $85 million for Algal and Advanced Biofuels

Posted on July 16, 2009 by Janet Jacobs

 

The U.S. Department of Energy (“DOE”) today announced Recovery Act funding of up to $85 million over a three year period for the development of algae-based biofuels and advanced, infrastructure-compatible biofuels. DOE wants leading scientists and engineers from universities, private industry, and government to collaborate in developing advanced biofuels and a thriving domestic bio-industry. Examples of advanced biofuels include green aviation fuels, green gasoline, and green diesel‪ from a variety of biomass feedstocks.

 

The DOE will award between $25 million and $50 million to one or two teams that develop cost-effective algae-based biofuels.  The remaining $35 million will be awarded to one team that can use the existing infrastructure to produce, distribute and transport algae-based biofuels. 

 

Only teams may apply and applications are due September 14, 2009.   No letters of intent are required.

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