Developing biofuels for the military will help prompt uptake of advanced fuels for commercial use and promote rural investment, the White House said in announcing a new spending plan today.
President Obama announced today that the US Department of Agriculture, the Department of Energy and the Navy will partner with the private sector in a joint plan to invest up to $510 million in biofuels that could power military and commercial transportation.
The plan aims to increase the production of advanced biofuels in efforts to help increase both energy and national security by decreasing dependence on foreign oil.
For an example of one company that claims to manufacture drop-in biofuels, see a profile of Wall Street favorite KiOR. Keep reading →