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The U.S. Environmental Protection Agency's (EPA)
slow rulemaking on the Renewable Fuel Standard program over the
past two years has "chilled" an influx of capital needed to
boost commercial production, according to the Biotechnology
Industry Organization (BIO).
The Washington firm represents biotechnology companies like
Abengoa Bioenergy and DuPont.
Production of advanced and cellulosic renewable fuels, which use
plant waste as a feedstock, has failed to meet targets set by
Congress in 2007, stoking debate over the policy. Corn-based
ethanol represents the vast majority of renewable fuels in use.
The EPA has been late in meeting annual deadlines to set volumes
of renewable fuels required to be blended into the
transportation fuel pool, which critics say has created
uncertainty throughout the industry. The agency is late in
announcing mandates for both 2014 and 2015.
The EPA has to approve new ways companies have designed to
qualify a fuel under RFS policy. Delays in that process have
helped dry up funding, according to BIO.
(Reporting by Chris Prentice; Editing by Marguerita Choy)
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