Iowa’s Renewable Fuel Instructure Grant Program Triggers $140 Million in Private Investment

The Iowa Renewable Fuel Infrastructure Grant Program has served as a critical tool in Iowa’s position as a leader in the biofuels industry.  For the wholesale and retail sectors of Iowa’s petroleum marketing industry, infrastructure serves as one of the primary barriers for the advancement of sales of higher biofuel blends.  The Renewable Fuel Infrastructure Grant program serves as a bridge for retailers and wholesalers to overcome that hurdle.

The success of the program is supported by its numbers.  Since 2007, the Renewable Fuel Infrastructure Grant Program has triggered nearly $140M in private investment into the sales of biofuels by petroleum marketers statewide.  The state of Iowa has invested $30M over the same period of time and the United States Department of Agriculture Biofuel Infrastructure Partnership has invested an additional $5M.  In total, nearly $175M has gone toward the advancement of biofuels in Iowa through this program since 2007.

Since the inception of the grant program in 2006 – 2007, 326 projects have been completed involving the installation of UST systems capable of dispensing higher blends of ethanol, namely E15 and E85.  Over that same period, 293 projects have been completed advancing the retail sale of biodiesel.  Additionally, 59 projects have been completed involving the installation of terminal storage tanks and dispensing equipment dedicated to the storage and distribution of biodiesel.  The continued funding of the Renewable Fuel Infrastructure Grant Program remains a legislative priority for PMCI.

The next meeting of the Renewable Fuel Infrastructure Grant Program Board of Directors is scheduled to take place on March 27, 2018.  PMCI members looking to submit an application for review at this meeting should plan to do so at least two weeks in advance of that meeting date.  If you have questions about the program please contact John Maynes in the PMCI office at 515.421.4043 or by email at john@pmcofiowa.com.  John serves as PMCI’s representative on the Board of Directors that reviews grant applications.