by Ben Nuelle
Iowa Gov. Terry Branstad, Lt. Gov. Kim Reynolds and Sec. of Agriculture Bill Northey announce $2.49 million has been awarded through the “Fueling Our Future 100” initiative.
The “Fueling our Future 100” initiative supports the installation of 107 new blender pumps and 8 underground storage tanks. These tanks will be used to distribute higher blends of renewable fuels.
This is the 1st round of funding through the program. Governor Branstad spoke about the “Fuel Our Future 100” initiative at the 10th Annual Iowa Renewable Fuels Summit Tuesday.
“Iowa is the nation’s leader in renewable fuel production. Every one of these fuels pumps that is being installed, as a result of this announcement, benefits our agricultural economy, supports good jobs for Iowa families and gives consumers more choices at the pump,” Branstad said. “This is a win-win situation for Iowa families and our economy as a whole.”
Lieutenant Governor Kim Reynolds says the renewable fuels industry has changed in the last several years.
Lt. Gov. Reynolds added, “Thanks to the support of our federal partners at the USDA, the ‘Fueling our Future 100’ program is going to ensure that consumers in our state have greater access to biofuels. We’re appreciative of companies like Five Star Coop, New Century Farm Services, Kum & Go, STAR Energy and Three Rivers Farm Services Company for their efforts in continuing to put Iowa on the forefront of an even greater renewable future.”
Applications for the second round of funding for the “Fuel Our Future 100” initiative are due February 1st.
The funding for the projects is from a $5 million competitive grant from the United States Department of Agriculture (USDA) Biofuel Infrastructure Partnership (BIP) program Iowa received to support the initiative. All funds must be matched by non-federal funds, including up to $2.5 million from the Iowa Renewable Fuels Infrastructure program. The fueling sites applying for assistance will also be required to provide a minimum of $2.5 million.