WASHINGTON--(BUSINESS WIRE)--Contrary to the assertions of the oil refiners, advanced biofuels are now a reality, BIO President & CEO Jim Greenwood said today in remarks on the Renewable Fuel Standard at ACORE’s National Renewable Energy Policy Forum, held on Capitol Hill. Greenwood also participated in a panel session on the Legacy of Bipartisan Support for Renewable Energy. Excerpts from Greenwood’s remarks are below:
“They made these investments because the RFS requirements gave them confidence that if they could develop the technology, build the plant, and produce the fuel – there will be a ready market for it.”
“I had the pleasure of speaking at the RETECH 2012 conference in October. I said then it was time for a call to arms for renewable energy. It is still time to raise that cry. In fact, the need is more urgent today.
“Private companies have invested billions of dollars in advanced biofuel research and development. Today two companies have begun commissioning large-scale biorefineries for commercial production of cellulosic ethanol and diesel. And many others have begun construction of additional facilities in every region of the United States.
“They made these investments because the RFS requirements gave them confidence that if they could develop the technology, build the plant, and produce the fuel – there will be a ready market for it.
“The RFS has been a success story. It has accomplished what Congress intended – reduced the need for foreign oil, spurred investment, increased production and created jobs.
“This is pretty simple. Maintain the RFS and we continue to attract billions of dollars to invest in more plants so we can look to a future of greater energy security, more jobs and cleaner fuels. Or kill the RFS and go backwards.”
For the full text of the remarks, please visit BIOtech-NOW.org.
BIO represents more than 1,100 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. BIO produces BIOtechNOW, an online portal and monthly newsletter chronicling “innovations transforming our world.” Subscribe to BIOtechNOW.
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