United States Department of Agriculture provides loan guarantee for biofuels project
The head of the United States Department of Agriculture Tom Vilsack in the new world of alternative energy fuel, occasionally had edges in the turfs of Steven Chu at the Department of Energy. Bio-refinery Assistance Programme established by the United States Department of Agriculture, which furnishes energy investments as loan to the companies which are attempting to produce advanced bio fuels. Tom Vilsack and the Department of Agriculture listed out the name of the companies which would receive the bio-fuel energy investments as loan. Maximum share would be received by the cellulosic ethanol bio-refinery in the western Alabama, which would be around 250 million US dollars that would be allocated for construction and operation costs. The Coskata plant in the Alabama gets energy investments from the General Motors is supposed to produce 55 million gallons of fuel-grade ethanol in routine, every year. Company recently said the proprietary combination of microorganisms and the ultra- efficient designs of bioreactor can yield around 100 gallons of fuel from each dry ton of wood, municipal solid waste, agricultural waste, wood waste and energy crops.
United States Department of Agriculture has also provided energy investments to a couple of large bio-refinery projects in Pontotoc Miss., Enerkem Corporation would get an energy investment loan guarantee of about 80 million USD for a plant that will shovel in 100,000 metric tons of solid municipal waste dried through thermo-chemical cellulosic process to produce 10 million gallons of ethanol per year. INEOS New Planet BioEnergy LLC in the Vero Beach would be getting a loan guarantee of 75 million USD for the construction and operation of a bio-refinery that would produce around 8 million gallons of cellulosic ethanol, every year. Further the project would produce around 6 megawatts of electricity. This beneficial project was supported by the government during late 2009 with a financial assistance of 50 million USD.
The United States Department of Agriculture said that the Biorefinery Assistance Program would provide energy investments as loan to the entrepreneurs having zeal for developing advanced biofuels renewable energy projects. Bio-fuel renewable energy projects are capable to produce large amount of energy that can be used effectively for the satisfying the energy needs of the people. Many multi-national business organizations are welcomed to provide bio fuel energy investments that would ameliorate the sector as well the economy of the nation. Renewable energy projects taking place all over the world is going to bring some remarkable transformation in the energy sector of each country and it would increase the economy of the country to greater standard.