President Obama announced new funding to catalyze breakthrough technologies for two key alternative fuels – natural gas and biofuels – as part of his all-of-the-above energy strategy to reduce our reliance on foreign oil and provide American families new choices for vehicles that do not rely on conventional gasoline.
Through its Advanced Research Projects Agency – Energy (ARPA-E), the Energy Department will make $30 million available for a new research competition in the coming months that will engage our country’s brightest scientists, engineers and entrepreneurs to find ways to harness our abundant supplies of domestic natural gas for vehicles.
The Department of Energy will also make $14 million available to support research and development into biofuels from algae. These programs will spur American innovation and encourage scientific breakthroughs that will help diversify the nation’s energy portfolio, grow American companies, and develop alternative vehicle technologies that do not rely on oil.
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