This bill expands federal support for companies developing advanced biofuels, renewable chemicals, and biobased products by amending an existing 2002 farm law. The legislation adds a new grant program—in addition to existing loan guarantees—to help eligible entities build or upgrade pilot and demonstration-scale biorefineries that convert plant-based materials into sustainable products. Projects will be evaluated using a priority scoring system that considers factors like market potential, private investment levels, use of new feedstocks or innovative processes, rural economic benefits, and environmental impact. Grant awards will cover up to 60 percent of project costs, with recipients required to contribute the remaining funds. The bill authorizes $40 million annually from 2025 through 2029 for both the loan guarantee and new grant programs, affecting agricultural companies, cooperatives, and manufacturers interested in developing renewable energy and chemical alternatives.
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