Senate Finance Committee’s extension of cellulosic biofuel credit to algae will accelerate commercial production
MINNEAPOLIS–August 3, 2012 – Today Mary Rosenthal, executive director of the Algae Biomass Organization (ABO), the trade association for the U.S. algae industry, released the following statement in support of the Senate Finance Committee’s approval of the Family and Business Tax Cut Certainty Act of 2012. The bill extends the existing cellulosic biofuel tax credit to include algae-based biofuels for the first time.
“The Algae Biomass Organization is extremely grateful that algae-based biofuels are being recognized as part of the existing cellulosic biofuel tax credit. Algae-based biofuels can be made right here in the U.S.A and work in existing engines and infrastructure, in many cases outperforming petroleum-based fuels. This credit and its bipartisan support will help our industry accelerate the commercial production of domestic fuels and hire workers across the U.S.A.
“We thank Chairman Max Baucus (D-MT) and Ranking Member Orrin Hatch (R-UT) for their leadership on the Committee, and especially the efforts of Senators Bill Nelson (D-FL) and Jeff Bingaman (D-NM) for their longstanding support of the great potential of our industry.
“The successful passage of this tax credit in the Senate and House would be a leap forward for our country’s efforts to achieve energy independence, promote jobs, and improve our national security.”
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:www.algaebiomass.org.
Nate Kommers, Scoville Public Relations for ABO
206-625-0075 x2, email@example.com