Iowa RFIB awards funding to biodiesel retailers

By Anna Austin | January 01, 2009
Web exclusive posted Dec. 23, 2008, at 11:08 a.m. CST

At its quarterly meeting Dec. 16, the Iowa Department of Economics Renewable Fuel Infrastructure Board approved more than $1.52 million in grants for 43 biodiesel and E85 retailers and terminal operators across the state to expand their renewable fuel infrastructure.

The Renewable Fuel Infrastructure Program could provide financial assistance up to 50 percent of the cost to install, replace or convert fuel equipment, or $30,000 for a combination of equipment at any one retail motor fuel location.

At biodiesel terminal facilities, the maximum award can't exceed 50 percent of the total cost of making the improvements, or $50,000, whichever is less. Projects must be completed within eight months of the award date unless an extension is approved.

Out of the 43 awards, 15 were for E85 dispensers and 13 were for biodiesel dispensers, including the Pioneer's Rest Area in Dubuque, Iowa, which plans to install a biodiesel blender pump. Twelve tank wagons and three biodiesel terminals were also awarded funding.

"The interest in renewable fuels infrastructure and demand for state grants exemplifies the success of this program, and warrants additional funding to build greater access to renewable fuels produced here in Iowa," said Lucy Norton, Iowa Renewable Fuels Association managing director. The RFIB plans to provide $13 million in financial incentives over the next three years to further expand consumer access to renewable fuels.

Iowa is one of the nation's top biodiesel producers with 14 operating plants and two facilities under construction.

For information about the Renewable Fuel Infrastructure Program, visit www.iowalifechanging.com/business/renewablefuels.html.
 
 
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