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WASHINGTON, DC (December 18, 2015) The Algae Biomass Organization (ABO), the trade association for the algae industry, applauded the U.S. House of Representatives and the Senate for including in the Consolidated Appropriations Act of 2016 policies that will accelerate the development of algae technologies that can enhance the economic, energy and environmental security of the United States.
The appropriations bill passed by Congress this week includes several components that will accelerate the development of advanced algae technologies that can help address some of the nation’s most pressing challenges. The bill includes an important extension of the second generation biofuel tax credit through the end of 2016, as well as $30 million for algae research and development at the Department of Energy’s Bioenergy Technologies Office and $10 million for carbon use and reuse at the Department’s Office of Fossil Energy. This support increases the potential funds available for algae research and commercialization by 50 percent over 2015 levels. The legislaton also makes up to $45 million available to the Department of Defense for the construction of biorefineries for the production of advanced drop-in biofuels from algae and other sources.
“Programs at the Departments of Energy and Defense are making vital investments in an algae technology platform that offers an economically sustainable solution to carbon emissions, provides Americans with a new source of domestically produced fuels, and opens the door for an industry that can provide jobs across the nation.” said Matt Carr, executive director of the Algae Biomass Organizations. “Extending the production tax credit for second generation biofuels through 2016 also sends a vital signal to investors that algae-based and other advanced biofuels have the full support of Congress. We thank members of the House and Senate for their leadership and vision.”
Products made from algae are the natural solution to the energy, food, economic and climate challenges facing the world today. This tiny but powerful organism has the ability to simultaneously put fuels in vehicles, reuse CO2, provide nutrition for animals and people, and create jobs for millions of Americans. More information can be found at allaboutalgae.com.
About the Algae Biomass Organization
The Algae Biomass Organization (ABO) is a 501(c)(6) non-profit whose mission is to promote the development of viable commercial markets for renewable and sustainable commodities derived from algae. Its membership is comprised of people, companies and organizations across the value chain. More information about ABO, including its leadership, membership, costs, benefits and members and their affiliations, is available at the website: algaebiomass.org.
