USDA announces loan guarantees for advanced biofuels, up to $250 million per project

In Washington, the USDA announced that it will support up to four advanced biofuel projects with up to $250 million in loan guarantees per project. The Secretary of Agriculture, Ed Schafer, said that preference will be given to projects where first-of-a-kind technology will be deployed on a commercial scale. The USDA defines advanced biofuels as fuels that do not use corn as a feedstock.  The USDA also invited public comments on how to administer the program in future years.

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