- In the Field
Rethinking Financing Biofuel InvestmentJuly 27, 2012
From Biofuels Digest, how to help biofuels companies commercialize their technologies.
Jim Lane of Biofuels Digests dissects a recent interview Navy Secretary Ray Mabus did with C-Span that related how Mabus’ time as U.S. ambassador to Saudi Arabia has influenced his strategy to transition the Navy to new energy by 2020.
While Mabus is full of enthusiasm for biofuels for marine and aviation fuel, Lane points out that the U.S. House has voted not to approve the Navy’s use of existing appropriations to fund its commitment, and the DOE has not yet won approval for its commitment, which would be funded out of its 2012 budget request.
To get around government inaction, Lane suggests a consortium of airlines together invest in advanced payments for biofuel, setting up a facility to deliver commercial-scale biofuel to the market within five years.
To read the plan in depth, visit Biofuels Digest here.