biofuel , biomass-based diesel , advanced biofuel , and non-cellulosic advanced categories . This is a win for energy independence and for our rural economy , delivering stability and growth in this market for years to come .
Background : Higher Blends Infrastructure Incentive Program
HBIIP seeks to increase the availability of higher blends of ethanol and biodiesel derived from U . S . agricultural products by sharing the costs to build and retrofit biofuel-related infrastructure .
Grants cover up to 75 % or $ 5 million of total project costs to help facilities convert to higher-blend fuels . The fuels must be greater than 10 % for ethanol and greater than 5 % for biodiesel .
The $ 450 million in new funds will be available quarterly starting July 1 . Each quarter , $ 90 million will be available to support a variety of fueling operations :
• Approximately $ 67.5 million will be made available to transportation fueling facilities , including fueling stations ; convenience stores ; larger retail stores that also sell fuel ; and transportation , freight , rail and marine fleet facilities .
• Approximately $ 18 million will be available to fuel distribution facilities , including terminal operations , depots and midstream operations .
• Up to $ 4.5 million will be made available to home heating oil distribution facilities .
There will be five application windows for HBIIP between July 1 , 2023 , and Sept . 30 , 2024 . A sixth application window will be opened if funding has not been exhausted .
For more information , visit the HBIIP webpage , the Federal Register or Grants . gov . Those interested may also register to attend a webinar scheduled for July 6 at 3:30 p . m . ET .
Background : Inflation Reduction Act
This announcement is part of President Biden ’ s Investing in America agenda to grow the American economy from the bottom up and the middle out by rebuilding our nation ’ s infrastructure , driving over $ 470 billion in private-sector manufacturing investments , creating good-paying jobs , and building a cleanenergy economy to tackle the climate crisis and make our communities more resilient .
For more information on the Inflation Reduction Act , visit : www . rd . usda . gov / inflation-reduction-act .
USDA Rural Development provides loans and grants to help expand economic opportunities , create jobs and improve the quality of life for millions of Americans in rural areas . This assistance supports infrastructure improvements ; business development ; housing ; community facilities such as schools , public safety and
10 JULY 2023 | FUEL OIL NEWS | www . fueloilnews . com