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Biofuels Market Booms as Demand Exceeds Pre-Pandemic Levels

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Biofuels are emerging as a crucial component in decarbonizing transport and industrial sectors worldwide, with significant investments and innovation paving the way for sustainable and efficient energy alternatives.

Biofuels are expected to play a major role in the global green transition, helping to power and decarbonise planes, ships and industry. These low-carbon fuels can be used to fill the renewable energy gap as they are suitable for application in industries that cannot survive on electricity and batteries alone. Further, with greater innovation, more biofuels will likely be derived from waste plant materials, making them more sustainable.

Joseph Goffman, Assistant Administrator for EPA’s Office of Air and Radiation, stated, “This investment through the Inflation Reduction Act will spur innovation in the production of advanced biofuels, advancing this Administration’s goal to build a stronger clean energy economy.” Meanwhile, Jeff Marootian, U.S.

 

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