Iowa biofuel producers tossed $15M pandemic aid ‘lifeline’

Source: By Carl Surran, Seeking Alpha • Posted: Wednesday, August 26, 2020

Iowa’s Gov. Reynolds says the state will allocate $100M of federal coronavirus relief funds to help the agriculture economy, including $15.5M for renewable fuel producers, as Iowa copes with recent storm damage and the ongoing pandemic.

The funds are a “much-needed lifeline for Iowa’s renewable fuels producers,” after COVID-19 led to the idling of as much as half of the state’s biofuels production capacity, says Iowa Renewable Fuels Association Executive Director Monte Shaw.

Renewable fuel retailers will receive $7M in CARES Act funds.