WASHINGTON--(BUSINESS WIRE)--Advanced biofuels from cellulosic material and algae can reduce reliance on oil and create green jobs; sustained, diverse federal programs are necessary to help producers secure financing for construction of projects. The Biotechnology Industry Organization (BIO), Advanced BioFuels Association (ABFA), and the Algal Biomass Organization (ABO) today joined other trade organizations and advanced biofuel companies to ask leaders of the House Ways and Means Committee to extend the expiration of the cellulosic biofuels production tax credit, make algae and other advanced biofuels eligible, and create an optional, refundable investment tax credit in the next appropriate revenue vehicle considered by the House.
