BIO Releases Report On Advancing The Biobased Economy

On September 7, 2016, the Biotechnology Innovation Organization (BIO) released the report "Advancing the Biobased Economy: Renewable Chemical Biorefinery Commercialization, Progress, and Market Opportunities, 2016 and Beyond." This report documents substantial growth in the renewable chemical industry, and covers domestic policies impacting renewable chemical commercialization. Policy drivers that are explored include the Renewable Fuel Standard (RFS), the 2014 Farm Bill, draft legislation, state and federal tax incentives, and the Master Limited Partnerships Parity Act (MLP). The report also reviews currently operating biorefineries to identify biotechnology solutions beyond biofuels currently undergoing commercial development.