BlueFire Ethanol and Other Advanced Biofuel Producers Petition Congress to Implement 30% Investment Tax Credit for Advanced BiorefineriesDate Posted: March 4, 2010 Arnold Klann of BlueFire Ethanol and a consortium of 31 other advanced biofuel producers signed a letter to U.S. Congressional leaders urging the implementation of a 30 percent investment tax credit (ITC) for advanced biorefineries. They believe the ITC is needed to jump-start the industry which must meet looming federal mandates for renewable fuels. Their belief is that the commercialization of the advanced biofuels industry has been severely delayed by the extended downturn in the U.S. economy, limiting access to private capital needed for the development of commercial scale projects. While Congress has utilized a loan guarantee programs to try to bridge this gap, these programs have yet to drive any substantial advanced biorefinery project development. For more information, call 201-465-8004. Advanced Biofuels
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