On Aug. 16, Growth Energy CEO Emily Skor thanked President Biden for signing the Inflation Reduction Act into law.
This initiative includes key provisions designed to expand the use of low-carbon biofuels, including infrastructure investments and tax credits for Sustainable Aviation Fuel (SAF), carbon capture, cellulosic biofuels, and bio-based diesel.
“We applaud President Biden and Congressional leaders for advancing our nation’s investment in low-carbon biofuels for a cleaner future,” said Skor.
“Biofuels are critical to meeting climate goals, and this law will help maximize our industry’s contributions to a cleaner future by expanding the volume of low-carbon biofuels available across the entire transportation sector – on the ground, in the air, and at sea. This initiative will help jump-start climate progress, while delivering more savings at the pump, greater long-term energy security, and a welcome economic boon to rural communities.“
Included in the Inflation Reduction Act are several key priorities for the biofuels industry: