New Video Series: ABFA Members Tell America’s Advanced Biofuels Story
Wednesday, October 16, 2013
Shifting international energy alliances and skyrocketing global demand for fuel mean it’s more important than ever for America to have a diverse, secure, and renewable portfolio of domestic energy options.
Advanced and cellulosic biofuels are a key part of this portfolio, and the Advanced Biofuels Association (ABFA) is helping America transition to a low-carbon economy. Our 40 member companies produce advanced biofuels using renewable sources like plants, algae, waste, animal fats and other forms of biomass – not petroleum – all while boosting local economies and creating good jobs.
With this post, ABFA is launching a series of videos to tell the stories of this clean energy transition from the perspectives of the companies producing renewable gallons and breaking ground on new facilities – our members.
We kick things off with Wayne Simmons, CEO of Sundrop Fuels and ABFA’s current chairman. “The advanced and cellulosic biofuels industry is here today and investing for tomorrow – it’s thriving, producing gallons into the marketplace today,” said Simmons. “There’s a lot of investment, construction of new plants, engineering of new plants, more capacity coming online in ’14, ’15, ’16 and beyond.”
By combining gasified biomass with hydrogen derived from natural gas, Sundrop Fuels will mass-produce renewable cellulosic gasoline with at least 60 percent less greenhouse gas emissions than petroleum-based fuel at an estimated unsubsidized cost of $2 per gallon. Simmons said his company’s $500 million combined commercial production and technology demonstration plant embodies the investments being made by America’s advanced biofuels industry. “We are building our first plant in Louisiana,” he said. “We see it coming on in late 2015, early 2016.”
To finance expanded construction, Simmons thinks the industry needs a stable regulatory environment to reach its full potential. “The biggest hindrance for the industry today is financial and capital markets impacted by uncertainty around regulatory and legislative policy,” he said. “With certainty, Wall Street investment will come,” he said.
Congress can lead this charge, says Simmons, primarily by keeping the RFS working for America’s energy future. “The most important thing that Congress has to do is provide stable regulatory policy, long-term – not something debated year after year,” he said. “We need certainty for the financial market places to be able to acquire the capital required to put plants in the ground and bring production to the U.S.”
Check out the full interview video embedded above, and stay tuned for more perspectives from the companies leading America’s transition to a renewable fuels future. We’ll be releasing new videos spotlighting different ABFA members every few weeks.