BIO Encourages EPA to speed approvals of new biofuel pathways.
Press Release Summary:
April 7, 2014 - BIO responded to EPA's announcement about halting new petitions for renewable fuel pathways for ~6 months. While recognizingÂ EPA's "welcome" effort to improve petition process for new renewable fuel pathways under the Renewable Fuel Standard (RFS), BIO's Brent Erickson commented that review process should be conducted in "a more timely manner." Erickson added that such a "lengthy wait...chills job creation and investment in the sector."
Original Press Release
BIO Encourages EPA to Speed Approvals of New Biofuel Pathways
Press release date: March 31, 2014
“Advanced biofuel companies need a pathway to the fuel market in order to attract necessary investment to build and start up new production facilities that create new jobs. The lengthy wait for approval of new pathways chills job creation and investment in the sector.”
Brent Erickson, Executive Vice President of BIO’s Industrial & Environmental Section, said, “EPA’s effort to improve the petition process for new renewable fuel pathways under the RFS is welcome. But the agency should aim to complete this review process in a more timely manner.
“Advanced biofuel companies need a pathway to the fuel market in order to attract necessary investment to build and start up new production facilities that create new jobs. The lengthy wait for approval of new pathways chills job creation and investment in the sector.
“In the past four years, EPA has completed fewer than half of the 62 petitions it has received for new renewable fuel pathways under the RFS. More than 36 petitions are still awaiting action – either approval or denial – and the average time that all petitioning companies have waited is currently 17 months. Companies filing cellulosic biofuel pathway petitions have faced the longest wait times – on average 24 months. This delay has slowed deployment of new advanced biofuel technologies.
“Combined with the proposed rule the proposed delay of the petition process may further undermine the development of advanced and cellulosic biofuels just as they are set to produce millions of commercial gallons and launch a rapid scale up.”
BIO is the world's largest trade association representing 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. BIOtechNOW is BIO's blog chronicling “innovations transforming our world” and the BIO Newsletter is the organization’s bi-weekly email newsletter.” Subscribe to the BIO Newsletter.
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