ABO and BIO Support Extending Tax Credits, Including Algae

December 20, 2011
AlgaeIndustryMagazine.com

The Algal Biomass Organization (ABO) thanked Senators Bill Nelson (D-Fla.), Jeff Bingaman (D-N.M.), John Kerry (D-Mass.), Al Franken (D-Minn.), Debbie Stabenow (D-Mich.), Jeff Merkley (D-Ore.), Ron Wyden (D-Ore.) and Tom Udall (D-N.M.) for their efforts to help level the playing field for algae-derived fuels. In a letter sent to Senate Majority Leader Harry Reid (D-NV) and Minority Leader McConnell (R-KY), the group asked Senators for consideration of an extension of cellulosic biofuels tax incentives, including language clarifying the eligibility of algae-based biofuels, in any possible extension of tax provisions slated to expire at the end of 2012.

Specifically, the letter asked the Senate leaders to clarify the eligibility of algae-based biofuels by including language similar to that in S. 748, the Algae-based Renewable Fuel Promotion Act.

“On behalf of our members across the value chain of the algae industry, we thank the Senators for their support,” said Mary Rosenthal, Executive Director of ABO. “The availability of long term, sustainable and domestic sources of fuel is in the economic, security and environmental strategic interests of our nation. But we need supportive and predictable federal policy to help accelerate the development of biorefineries capable of producing billions of gallons of renewable fuels. Not only will this reduce our dependency on imported oil, it will create tens of thousands of jobs across the country.”

The Biotechnology Industry Organization (BIO) also publically thanked the legislative team for their request to Senate leadership for this extension.

Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section, said, “The advanced biofuels industry is at an inflection point and is rapidly maturing because biotech companies have made significant private investments to commercialize the technology. Additional investment is needed to build commercial scale biorefineries to produce these advanced biofuels. The cellulosic biofuels production tax credit and the accelerated depreciation for cellulosic biofuel property have the potential to unlock this vital project financing. Algae biofuels also need to be eligible for these credits. But the December 31, 2012, expiration date for these credits prevents project developers from leveraging their full value.”

Go to HOME Page

Copyright ©2010-2011 AlgaeIndustryMagazine.com. All rights reserved. Permission granted to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

Visit the A.I.M. Archives

AIM interview ArchivesAlgae 101 ArchivesHot Products ArchivesInnovations ArchivesMoney ArchivesProcess ArchivesResearch ArchivesScale Up ArchivesThe Buzz Archives

FREE Algae News & Updates

Sign up to receive breaking A.I.M. updates!

From The A.I.M. Archives

— Refresh Page for More Choices
As of March 1, 2015, bbi-biotech GmbH, of Berlin, Germany, has begun integrating IGV Biotech GmbH’s photobioreactors into its own life science product portfolio. A former...
K. S. Rajgopal writes in thehindu.com about a new study that demonstrates how macroalgal biomass from Gelidiella acerosa and Gracilaria dura collected from Adri and Verav...
Sebastian Rich reports on PBS Newshour about the Central African Republic city of Bangui, which has been caught in the crossfire between warring Muslim and Christian grou...
Jeff Gelski writes in foodbusinessnews.net that algae oil is now in the toolbox of alternative oils shown to replace partially hydrogenated oils (PHOs), which cause trans...
Simris Alg, a pioneering agribusiness producing omega-3 from farmed algae, has been declared one of Sweden’s 33 hottest companies in new technology. The renowned list is ...
UC San Diego’s efforts to produce innovative and sustainable solutions to the world’s environmental problems have resulted in a partnership with the region’s surfing indu...
The Biotechnology Industry Organization (BIO) has named Solazyme CEO and co-founder Jonathan S. Wolfson as the recipient of its 2015 George Washington Carver Award for in...
While aquafarmers in Maine have been harvesting seaweed for nearly 80 years, for a variety of uses and products, in recent years wild harvests have not been able to meet ...
Rich McEachran writes in the Guardian that, in the process of surfacing a road, layers of asphalt – which is composed mostly of bitumen (a byproduct of crude oil distilla...
The fully automated plant at the Fraunhofer Center for Chemical-Biotechnological Processes CBP in Leuna, Germany, was designed to produce microalgae at industrial scale. ...
Joule has announced the issuance of a patent on the direct, continuous production of hydrocarbon fuels — extending its ability to target the highest-value molecules of th...
Bigelow Laboratory, of East Boothbay, Maine, and the University of Mississippi have formed a five-year Strategic Inter-Institutional Partnership Agreement for collaborati...
The demand for spirulina as a natural food colorant is robust in the North America food processing industry, according to a new study by market intelligence firm Future M...
Currently made most often from petroleum and natural gas, ethylene is used in the manufacture of plastics and polyester, and ranks as the largest petrochemical produced b...
Mark Harris writes in the Guardian about a pilot project in Las Cruces, New Mexico, where Dr. Peter Lammers, a professor in algal bioenergy at Arizona State University, a...