WASHINGTON, March 9, 2016 - In their continued effort to expand the use of renewable fuels, Iowa Gov. Terry Branstad, Lt. Gov. Kim Reynolds and Agriculture Secretary Bill Northey announced Tuesday that $2.5 million has been awarded through the second round of the “Fueling Our Future 100” initiative. Funds will support the installation of 106 new blender pumps and 17 underground storage tanks that can be used to distribute higher blends of renewable fuels.
The funds are being awarded to 16 fuel retailers to assist in installing renewable fuels infrastructure at 35 sites across the state. A full list of sites receiving funding is here.
In total, 213 blender pumps and 24 underground storage tanks will be installed at 73 sites by 20 companies to provide consumers with access to higher blends of ethanol through the program.
“Iowa is the nation’s leader in renewable fuel production,” said Branstad, who said he was pleased to see the second round of funding awarded.
The funding for the projects is from a $5 million competitive grant from USDA’s Biofuel Infrastructure Partnership (BIP) program. All funds must be matched by non-federal funds, including, in this case, 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.
Pumps and tanks funded through this program are currently required to be operational by Dec. 31 and continue operations for the intended purpose of dispensing higher blends of ethanol through December 30, 2021.
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