The U.S. Department of Energy announced Wednesday that it intends to invest $385 million in six biorefinery projects over the next four years. The projects will produce motor fuels from agricultural waste, trash, and woodchips, Energy Secretary Samuel Bodman said at a press conference.
The companies proposing the projects are Abengoa Bioenergy Corp., a division of Abengoa SA of
According to current plans, the biorefineries would be located in
Bodman says the investment will help cellulosic ethanol move closer to becoming a commercially viable alternative to gasoline and corn-based ethanol by lowering production costs. "$1 a gallon, I think, is a reasonable target," he says.