DES MOINES – Iowa Gov. Terry Branstad, Lt. Gov. Kim Reynolds and Sec. of Agriculture Bill Northey announced Thursday that $323,483 has been awarded in the third round of the Fueling Our Future 100 program.
The money will pay for the installation of 13 new blender pumps and two underground storage tanks used to distribute higher blends of renewable fuels at five retail gas stations around Iowa. The three retailers and their five sites are Star Energy in Yale, Best Food Mart in Des Moines and Kum & Go outlets in Ames, Northwood and Sioux City.
“Iowa continues to be the nation’s leader in renewable fuel production,” Branstad said. “Every one of these fuels pumps that is being installed as a result of this third-round announcement benefits our agricultural economy, supports good jobs for Iowa families and gives consumers more choices at the pump. This is a win-win situation for Iowa families and our economy as a whole.”
Reynolds said the “Fueling our Future 100 program is ensuring that consumers in our state have greater access to biofuels.”
The program aims to install 226 blender pumps and 26 underground storage tanks at 78 sites around Iowa. Twenty fuel retailers will sell the higher blends of ethanol through the infrastructure program.
“Thanks to the investments made by the state, the federal government and by these companies, customers will have greater access to higher blends of renewable fuels,” Northey said. “This will increase consumer choice at the pump and allow them to increase the amount of clean-burning, homegrown, renewable fuels they use.”
Iowa landed $5 million in federal funding for Fueling Our Future 100 in a competitive grant process. The federal dollars come through the U.S. Department of Agriculture (USDA) Biofuel Infrastructure Partnership (BIP).
Iowa’s share of the federal funds must be matched by non-federal funds, including up to $2.5 million from the Iowa Renewable Fuels Infrastructure program. The gas stations applying for assistance are also required to provide a minimum of $2.5 million.
Pumps and tanks funded through this program must be in operation by Dec. 31, 2016, and must continue dispensing higher blends of ethanol through Dec. 30, 2021.
The new program is a partnership across state government, including collaboration between the governor’s office, the Iowa Department of Agriculture and Land Stewardship, Iowa Department of Transportation and Iowa Economic Development Authority.
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