BIO is confident biofuels can meet Renewable Fuel Standard.
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Press Release Summary:
According to Brent Erickson, EVP of BIO Industrial and Environmental Section, biofuel companies are ready to deploy their technology and begin meeting requirements of National Renewable Fuel Standard. Analysis by EPA shows that biofuels produced with biotech tools will dramatically reduce U.S. greenhouse gas emissions from transportation. Biotechnology can also help farmers increase yields per acre and reduce petroleum inputs in agriculture.
Original Press Release:
BIO Is Confident That Biofuels Can Meet Goals of Renewable Fuel Standard
ATLANTA, GA. (May 18, 09) - Biotech companies are poised to rapidly commercialize advanced biofuel technology, which has been shown to reduce both U.S. reliance on petroleum and associated greenhouse gas emissions. Brent Erickson, executive vice president of the Biotechnology Industry Organization's (BIO) Industrial and Environmental Section, today released the following statement at a media briefing held at the 2009 BIO International Convention being held at the Georgia World Congress Center in Atlanta.
"Advanced biofuel companies are ready to deploy their technology and begin meeting the requirements of the National Renewable Fuel Standard. Now that the rules of the program are finally moving forward and the Obama administration has demonstrated a firm commitment to the industry, companies are prepared to build the next generation of biorefineries.
"The recent analysis by the Environmental Protection Agency shows that biofuels produced with biotech tools will dramatically reduce U.S. greenhouse gas emissions from transportation - more than 100 percent compared to gasoline, in some cases. In addition to enabling production of cellulosic biofuels, biotechnology can continue to help biofuel producers reduce carbon emissions by increasing yields of fuel per ton of raw material and decreasing energy use in production of biofuels.
Biotechnology can also help farmers increase yields per acre and reduce petroleum inputs in agriculture. "The Obama administration's leadership, through the recently announced Biofuels Interagency Working Group, is vital to stimulating the investment needed to bring advanced biofuels to market. There are many federal and state programs designed to support the industry during its infancy that require coordination and funding. These important incentive programs include loan guarantees for biorefineries, a reverse auction for the first billion gallons of advanced biofuels, and funding and fast-tracking of the Biomass Crop Assistance Program."
To access a replay of the briefing, please dial 800-642-1687 and use conference code 99502661. For additional information, please contact Paul Winters, Communications Director, BIO at 202-962-9237 or pwinters@bio.org.
BIO supports the production of biofuels from all feedstocks. Agricultural biotechnology is helping to increase crop yields, while industrial biotechnology is helping to convert crops, crop residues and other feedstocks into ethanol more efficiently. With ongoing advances in biotechnology, biofuels can help America meet nearly half its transportation fuel needs by the middle of this century.
About BIO
BIO represents more than 1,200 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world.
