BOYNTON BEACH, Fla. (PRWEB) July 17, 2023 -- Protec Fuel, a leader in ethanol fuel solutions, has announced its commitment to assist retailers and fleets in securing their share of a $450 million grant through the Higher Blends Infrastructure Incentive Program (HBIIP) by the U.S. Department of Agriculture (USDA).
As part of the Inflation Reduction Act, the USDA has officially begun accepting applications for this substantial funding program. The program aims to aid fueling stations, stores, and facilities in implementing higher ethanol blends, such as E15, and biodiesel blends greater than 5 percent, such as B20.
This funding, sourced from the Inflation Reduction Act, has application periods set to operate quarterly, starting July 1, 2023, and ending Sept. 30, 2024. For each quarter, roughly $90 million will be available to fuel stations, stores, and other facilities that utilize higher ethanol blends, like E15 and above, as well as biodiesel blends exceeding 5 percent, such as B20. The USDA has indicated that successful applicants will be awarded cost-share grants, which cover up to 75 percent of the total eligible project costs, though the grant amount will not exceed $5 million, whichever is lesser.
Around $67.5 million will be assigned to transportation fueling facilities, which encompass fueling stations, convenience stores, larger retail stores that also deal in fuel, and transportation, freight, rail, and marine fleet facilities. Close to $18 million will be allocated to fuel distribution facilities, including terminal operations, depots, and midstream operations. A maximum of $4.5 million will be available to home heating oil distribution facilities. The HBIIP will have five application windows between July 1, 2023, and Sept. 30, 2024. If there's any funding left, a sixth application window will be opened.
Protec Fuel has successfully attained over 25 million over previous years for retail partners, and Protec is ready to help its partners navigate the application process and increase their chances of successfully attaining these funds. These grants will provide significant cost offsets for ethanol fuel infrastructure and equipment, including dispensers and tanks. Successful applicants will receive cost-share grants covering up to 75 percent of total eligible project costs, not exceeding $5 million.
Protec Fuel, an eminent ethanol fuel marketing and solutions company headquartered in Boynton Beach, Florida, with offices in Texas, Georgia, and recently Colorado, has been instrumental in securing funding for convenience stores and large-scale retail outlets dealing in fuel across the entire South and Southeast regions of the United States This pioneering firm has been dedicated to offering its expertise and resources, creating a streamlined process to connect these stores with valuable financing opportunities. This has proven to be a catalyst in bolstering growth and fueling infrastructure development in the energy sector within these areas.
Most recently, Protec Fuel extended its successful operations to Colorado, ushering in the state's new era of ethanol fuel market development. This expansion serves as a testament to Protec's unwavering commitment to the progression of the ethanol fuel market and its continuous endeavors to bridge the gap between retailers and the financial resources required to thrive in the industry.
Steve Walk, Managing Partner and Chief Operating Officer of Protec Fuel Management shared his insights on the company's impact and mission. "We understand the potential impact of these grants on the expansion of ethanol infrastructure nationwide. Protec Fuel is dedicated to supporting our partners in this transformative initiative," Walk expressed.
Expanding on this sentiment, a spokesperson for Protec Fuel added, "We are committed to making the application process as seamless as possible and maximizing the chances of success for our partners. Our goal is to alleviate any roadblocks that may arise during the funding process and ensure that our partners are well-positioned to make the most out of these financial opportunities, in line with our mission to drive the ethanol industry’s growth.“ Retailers and fleets interested in taking advantage of this opportunity are encouraged to reach out to Protec Fuel for support in applying for these significant grants.
About Protec Fuel Management, LLC
Founded in 1999, Protec Fuel Management, LLC, is a forward-thinking ethanol fuel marketing and solutions company. With a dedicated focus on creating a unique, turnkey ethanol solution, Protec supports distributors, retailers, and fleets across the nation's South, Southeast, and Mid-Atlantic areas.
At Protec, we're proud to supply ethanol and biofuel to retailers and distributors, offering a comprehensive range of risk management products. But our services go beyond supplying fuel. With years of combined technical knowledge, our experienced professionals provide exceptional services that meet a broad spectrum of customer needs.
Steve Walk, Protec Fuel, https://protecfuel.com, 1 561-392-3667, [email protected]
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