(JEFFERSON CITY, Mo.) – Today, the Missouri Agricultural and Small Business Development Authority (MASBDA) announced the Biofuel Infrastructure Incentive Program (BIIP) to increase the distribution and use of biofuels in the state of Missouri. Funds will be awarded to fuel retailers, fuel distributors, terminal companies or fleet operations that dispense, or will soon store or dispense, ethanol blends of E15 or higher or biodiesel blends of B6 or higher.
Applications are due Sept. 30, 2022, and projects receiving funds will be notified no later than Oct. 31, 2022.
The MASBDA Board of Directors has approved up to $4 million for the Biofuel Infrastructure Incentive Program, with half appropriated to biodiesel projects and half appropriated to ethanol projects. Applicants must be a business entity that is constructing new, retrofitting or improving existing infrastructure or equipment that handles biodiesel fuel, biodiesel blend fuel or ethanol blended gasoline at a facility in Missouri. The project may include multiple locations within the state.
“MASBDA is proud to play a part in expanding the opportunity for increased biofuel in Missouri,” said MASBDA Executive Director Jill Wood. “An investment in biofuel is an investment in Missouri agriculture with the increased demand for soybeans and corn, two of Missouri’s top commodities.”
Funds may be used for, but are not limited to, costs associated with the construction, installation, upgrade or retrofit of:
- Fuel dispensers/pumps
- Related/attached equipment
- Underground or aboveground storage tanks
- Tank system components
- Other infrastructure located in Missouri with the sole purpose to ensure the environmentally safe availability of blends of ethanol or biodiesel
“Biodiesel is a Missouri-made, renewable fuel that supports Missouri soybean farmers and provides more options for fuel suppliers and fleets,” said Missouri Soybean Merchandising Council Chairman Aaron Porter of Dexter. “This program is an important step in our efforts to build new demand and access for biodiesel and growth for our economy here in the state.”
“We appreciate the continued collaboration with elected officials and MASBDA in helping provide drivers with additional options at the pump through these infrastructure opportunities across the state,” said Missouri Corn Merchandising Council Chairman Clint Stephens of Advance. “This program is a great example of an effective public-private partnership that increases access to cost-effective, Missouri-made renewable fuel, provides cleaner air, and reduces our dependence on foreign oil. It’s a win all the way around.”
Within each fuel category, up to 75% of the funds will be awarded to Tier 1 projects. Up to 25% of funds will be awarded to Tier 2 projects.
- Tier 1 – Any terminal company, fuel distributor or fuel retailer with more than five locations. The maximum grant award for Tier 1 entities is 50% of eligible costs or $500,000, whichever is less.
- Tier 2 – Any fuel retailer with five or fewer station, fleet operations or individual businesses. The maximum grant award for Tier 2 entities is 75% of eligible costs or $250,000, whichever is less.
For more information on the Biofuel Infrastructure Incentive Program or the Missouri Agricultural and Small Business Development Authority, please visit MASBDA.com. To contact a member of the MASBDA team, email email@example.com or call (573) 751-2129.