USDA, Navy, DOE Announce $30M Joint Biofuel Investment

Law360, Washington (July 2, 2012, 7:07 PM EDT) -- In an effort to boost the U.S. biofuel industry, the Department of Agriculture, the Navy and the Department of Energy announced on Monday that they will offer $30 million in financing to boost drop-in replacement biofuel projects and increase biofuel production in the country.

Citing President Obama's "Blueprint for a Secure Energy Future" and energy security concerns as key reasons for the funding spike, the departments said the $30 million influx will be matched by private investments. In addition, the DOE has issued $32 million in...
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