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Branstad, Reynolds, Northey announce first round of funding awards for “Fueling Our Future Initiative”

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January 20th, 2016 by Ric Hanson

Iowa Gov. Terry Branstad, Lt. Gov. Kim Reynolds and Sec. of Agriculture Bill Northey Tuesday, announced that $2.49 million has been awarded through the “Fueling Our Future 100” initiative to support the installation of 107 new blender pumps and 8 underground storage tanks that can be used to distribute higher blends of renewable fuels. An estimated 187 blender pumps and 25 underground storage tanks will be installed to provide consumers with access to higher blends of ethanol through the program. Among the locations to benefit from the initiative, is the Kum and Go in Stuart, and STAR Energy, in Guthrie Center. This was the 1st round of funding through the program and applications are due Feb. 1st for the 2nd round of funding.

The funding for the projects is from a $5 million competitive grant from the United States Department of Agriculture (USDA) Biofuel Infrastructure Partnership (BIP) program Iowa received to support the initiative. All funds must be matched by non-federal funds, including up to $2.5 million from the Iowa Renewable Fuels Infrastructure program. The fueling sites applying for assistance will also be required to provide a minimum of $2.5 million.

Pumps and tanks funded through the program are currently required to be operational by December 31, 2016 and continue operations for the intended purpose of dispensing higher blends of ethanol through December 30, 2021. More information about the program, a copy of the application and other materials can be found on the Iowa Department of Agriculture and Land Stewardship’s website at www.IowaAgriculture.gov under “Hot Topics.”