The U.S. Department of Agriculture and the Ministry of Energy issued a joint statement on the 15th that they will provide 30 million U.S. dollars in funding for advanced bio-energy and high-value bio-based product development projects within three to four years. The joint statement said that these research and development projects will help create a variety of economical, environmentally friendly sources of renewable biomass, and increase the availability of alternative renewable fuels and biobased products. At the same time, these advanced biofuels are expected to reduce carbon dioxide emissions by at least 50% compared to fossil fuels.

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