Senate Committee approves Defense Appropriations Bill.
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Press Release Summary:
Senate Appropriations Committee approved Defense Appropriations bill that supports innovation and invigorates industrial base. Coalition of stakeholders thanked members of committee for providing funds for Defense Production Act to build production capacity for critical defense-related initiatives. According to stakeholder statement, military's ability to use Act authority can help attract private investment to construct biorefineries and meet military's need for energy security.
Original Press Release:
Groups Thank Senate Appropriations Committee for Defense Appropriations Bill
WASHINGTON - The Senate Appropriations Committee today approved a Defense Appropriations bill that supports innovation and invigorates the industrial base. A coalition of stakeholder organizations today issued the following statement and thanked the members of the committee for providing funds for the Defense Production Act to build production capacity for critical defense-related initiatives:
"The domestic advanced biofuel industry can play a huge part in promoting energy security, which is critical for military readiness and national security. Ensuring the reliability and affordability of fuel supplies through diversification to advanced drop-in alternative fuels is essential to sustain the U.S. military's readiness, since oil price volatility has already negatively impacted military readiness.
"Private companies have made substantial investments and rapid progress in researching and developing advanced biofuels. Building new advanced biofuel biorefineries requires large capital investments at a time when capital formation has been hampered by the recent economic downturn. The military's ability to use its Defense Production Act authority can help attract private investment to construct biorefineries and meet the military's need for energy security."
The coalition of stakeholder organizations includes Airlines for America (A4A), the American Farm Bureau Federation, Advanced Biofuels Association (ABFA), Biotechnology Industry Organization (BIO), National Farmers Union and Operation Free.
Contacts
Biotechnology Industry Organization
Paul Winters, 202-962-9237
