BIO Joins Group of Organizations Asking Congress to Ensure Policy Stability for Advanced Biofuels

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WASHINGTON--(BUSINESS WIRE)-- The Biotechnology Industry Organization (BIO) today co-signed a letter to leaders of the House and Senate sent by nine biofuel trade associations, environmental advocates, and agriculture policy groups expressing strong support for extending and maintaining federal policies that are critical to the ongoing development of advanced biofuels.

“Congress made an historic commitment to advanced biofuels in the Energy Independence and Security Act of 2007, as part of a comprehensive strategy to reduce oil dependence, improve national security, and spur economic growth. With gas prices recently spiking to record levels and remaining highly volatile, it is self-evident that the United States needs to develop homegrown alternatives to oil to protect American consumers at the gas pump,” the letter states.

“The advanced and cellulosic biofuels industry is now in the process of building new plants, innovating at existing production facilities with emerging technologies, and introducing new product streams that will allow the renewable fuels sector to become more profitable, diversified and efficient. Significant investment dollars are being secured with the expectation that Congress will remain committed to advanced biofuels. Rapidly commercializing these technologies will provide substantial oil savings to consumers with far lower environmental impacts than today’s fuels,” the groups go on to note.

Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section added, “Because of the RFS, innovative U.S. companies in every corner of the nation have moved as rapidly toward commercialization as possible. These companies are at a critical juncture, with new biorefineries under construction and production coming online – at a time when major oil refineries are shutting down production capacity. In order to foster the U.S. lead in innovation, the federal government must continue to support development of the advanced biofuel industry. Private investment in the industry relies on policy stability.”

About BIO

BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIO produces BIOtech NOW, an online portal and monthly newsletter chronicling “innovations transforming our world.” Subscribe to BIOtech NOW.

Upcoming BIO Events

2012 BIO International Convention
June 18-21, 2012
Boston, MA

BIO Business Forum
June 18 – 21, 2012
Boston, MA

BIO India International Conference
September 12 – 13, 2012
Mumbai, India

Livestock Biotech Summit
September 19 – 21, 2012
Kansas City, MO

BIO Investor Forum
October 9-10, 2012
San Francisco, CA

Pacific Rim Summit on Industrial Biotechnology and Bioenergy
October 10 – 12, 2012
Vancouver, Canada

The BIO Convention in China
October 24 – 25, 2012
Shanghai, China

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