When the House of Representatives passed the "Fiscal Cliff" bill late Tuesday evening, the biodiesel industry was watching. The bill included an extension of the federal biodiesel blenders tax credit for 2013, and a retroactive extension for 2012. For many companies in the industry the bill provides not only certainty moving forward, but provides critical capital for biodiesel producers.
"We'll use this opportunity to meet the intent of incentive programs such as the biodiesel tax credit and fully commercialize our emerging technologies to better the industry," said Leigh Freeman, CEO of Blue Sun. “Supporting new and growing industries like alternative energy is a key role our government can play in keeping the U.S. the dominant player in business and technology worldwide. This support provides stability, which in turn creates certainty for our investors current and future."
As part of the fiscal cliff deal, wind energy tax credits were also renewed.