Bio Fuels/Enzyme Technology
Paving the Way For Advanced Bio Fuels
250 Million Gallons of Bio–Ethanol in 2014
Global production capacity of ethanol from cellulose is estimated to reach about 15 million gallons in 2012 and 250 million gallons in 2014. Market analysts Bloomberg estimate that the advanced bio fuels industry has the potential to create millions of jobs, economic growth, and energy security worldwide.
Growth, Jobs and Environemntal Benfits – What Advanced Bio Fuels Can Do
Looking at the US alone, the Bloomberg study Moving towards a next-generation ethanol economy' shows that using less than 20% of the available agricultural residues the US could produce more than 18 billion gallons of ethanol every year, replacing 16% of its gasoline consumption by 2030. This would create 1.4 million jobs and reduce CO2 emissions from gasoline-based transportation by 11%. The numbers would be even higher if biomass from forestry residues, household waste, and energy crops were included.
The Renewable Fuel Standard, a legislative mandate on the use of renewable fuels in the US, targets production of 16 billion gallons of cellulosic bio fuels by 2022.