Home News Second round of “Fueling Our Future 100” funds released

Second round of “Fueling Our Future 100” funds released

by Ben  Nuelle

Governor Terry Branstad announces release of the second round of funding for the “Fueling Our Future 100” initiative. Branstad, Lieutenant Governor Kim Reynolds, and Secretary of Agriculture Bill Northey announced the release of $2.5 million to 16 fuel retailers.

“Iowa is the nation’s leader in renewable fuel production,” says Branstad.  “I’m pleased to see the 2nd round of funding being awarded to support another 106 new blender pumps and 17 underground storage tanks that will be used for renewable fuel in our state.”

Lt. Gov. Reynolds adds, “We announced an initial award in January to install 107 new blender pumps and 8 underground tanks.  This second round of funding will ensure that even more fueling stations around Iowa will be able to offer customers a higher blend of Iowa renewable fuel.”

“Thanks to the investments made by the state, the federal government and by these companies, customers will have greater access to higher blends of renewable fuels. This will increase consumer choice at the pump and allow them to increase the amount of clean burning, homegrown renewable fuels they use,” Northey says.

In total, 213 blender pumps and 24 underground storage tanks will be installed at 73 sites. 20 companies will provide consumers with access to higher blends of ethanol through the program.

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.

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 are required to provide a minimum of $2.5 million. Pumps and tanks funded through this program are currently required to be operational by December 31, 2016. They also must continue operations offering higher ethanol blends through December 30, 2021.

This new program is a partnership across state government, including collaboration between the Governor’s office, Iowa Department of Agriculture and Land Stewardship, Iowa Department of Transportation, and Iowa Economic Development Authority.

 

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