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High-Oleic Soy Expected To Drive Future Biodiesel Growth

High-Oleic Soy Expected To Drive Future Biodiesel Growth

National Biodiesel Board launches new goal to assume more diesel market share

The National Biodiesel Board announced Tuesday its new 10-year vision to gain 10% of the on-road diesel market by 2022.

"It is not about replacing every drop of petroleum; it is about continuing to diversify transportation energy so we can meet our needs affordably and sustainably," said National Biodiesel Board CEO Joe Jobe. 

"Biodiesel will play an increasing role to help protect fuel consumers and the US economy from unstable energy markets that are grossly distorted by political factors in the most politically unstable region in the world and by nationalized oil companies of totalitarian regimes," Jobe added.

National Biodiesel Board launches new goal to assume more diesel market share

Eight years ago, NBB set a goal for biodiesel to assume 5% of the diesel fuel supply by 2015, a goal then viewed as aggressive. With a billion gallons produced in 2011 and 2012, the biodiesel is on track to achieve that goal and possibly hit it earlier than expected.

At the Biodiesel Conference & Expo Tuesday, the industry announced the new 10x22 goal, which envisions a more diversified future energy portfolio.  The 10x22 goal is benchmarked to the on-road volumes but expected to be used in various blend levels in various applications. NBB said the goal is intended to be a stretch but yet attainable.  It accounts for continuing technological breakthroughs in research on raw materials like one announced today.

Researchers at the Danforth Plant Science Center have developed technology that has demonstrated 2% and possibly higher increases in the oil content of soybeans, NBB pointed out, and preliminary data suggests these benefits occur without loss of yield or negative impacts on protein quality.  The development has the potential to add one-half billion gallons of oil to the feedstock supply in the near term without negatively impacting soybean meal and animal feed, NBB estimated.

The biodiesel industry already is accounting for the vast majority of the advanced biofuel production called for under the Federal Renewable Fuel Standard.  As ongoing research continues to support more biodiesel growth, NBB looks forward to the development and innovation within the next decade.

"No one could have predicted the changes and challenges of this industry, but we have been deliberate and intentional as we map our potential," Jobe said. "This year, biodiesel marks 20 years for the trade association, 10 years for the conference and lays out the vision for the next ten years to come."

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