The U.S. Department of Agriculture (USDA) announced in a recent press release it plans to invest up to $500 million from President Biden’s Inflation Reduction Act to increase the availability of domestic biofuels and give Americans additional cleaner fuel options at the pump.
In December 2022, the USDA made available $50 million in Inflation Reduction Act funding to expand the use and availability of higher-blend biofuels through the Higher Blends Infrastructure Incentive Program (HBIIP).
Yesterday, the first awardees were announced of 59 infrastructure projects that will receive a total of $25 million.
In addition, the USDA announced that in July, the department will begin accepting applications for $450 million in grants through HBIIP. These grants will continue to support the infrastructure needed to lower out-of-pocket costs for transportation fueling and distribution facilities to install and upgrade biofuel-related infrastructure such as pumps, dispensers, and storage tanks.
Additional awards will be announced in the coming weeks.
