The Biotechnology Industry Organisation (BIO) representing the biofuel industry in America is calling for cellulosic biofuels tax credits to be extended to help companies raise the funds they need to build biorefineries. "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," says Brent Erickson, executive VP of BIO’s industrial and environmental section. Read more ...
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