"The growth in the use of renewable fuels has skyrocketed in recent years and companies are becoming aware of a growing demand in our region," a spokesman for the congressman tells GlobeSt.com, noting that the state's many research universities and its large investment base would make Massachusetts an ideal location.
Although no site has yet been selected for the project, the spokesman says the Delahunt would like to see the facility located on the South Shore. As part of the incentive to build the facility, each center will receive $25 million in federal start up money along with $100 million over four years to research ways to convert materials into fuels that would eventually replace petroleum products.
Paul Angelico, president of Twin Rivers Technologies, one of two prominent bio-energy companies in the Bay State, tells GlobeSt.com luring a bio-energy research company to the state could have profound effects on the region's energy consumption.
"What clearly needs to happen is that state governments need to be supportive of the use of renewable fuels either thru incentives or mandates," says Angelico, whose firm, which produces bio-diesel fuel, is located on the Fore River in Quincy, one of the sites mentioned as a possible location for the bio-energy research center.
"It's a great location," he notes. "It would bring academia, business and government together to create a renewable energy vision, not only for this region but for the country."
The company and another firm in Norwell, Bioenergy International LLC, are working with Delahunt to put together a bid to win the research facility. The location will be selected by the US Energy Department in June.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
