WASHINGTON--(BUSINESS WIRE)--

The Biotechnology Industry Organization (BIO) today thanked Gov. Mitt Romney for his stated intention to support increased market penetration and competition among energy sources by maintaining the RFS in The Romney Plan For A Stronger Middle Class: ENERGY INDEPENDENCE, released yesterday.

BIO President and CEO Jim Greenwood said, The Renewable Fuel Standard is the bedrock policy supporting the emergence of advanced biofuels. The United States is at a critical juncture in the development of advanced biofuels, which are poised to make a real contribution to energy independence and security. Companies across the United States have made substantial long-term investments in building new biorefineries. The first commercial gallons of cellulosic biofuels were produced this year and the first large-scale biorefineries are set to begin production soon, adding to those gallons. Additional large-scale biorefineries are under construction, with production ready to begin within the next few years.

Stable support for the Renewable Fuel Standard at the federal level provides assurance to these companies that their investments will come to fruition. Innovative biofuels have already brought competition among energy sources to the marketplace and lowered prices for consumers. Further, construction and operation of biorefineries will continue to generate new employment opportunities.

About BIO

BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the worlds largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIO produces BIOtechNOW, an online portal and monthly newsletter chronicling innovations transforming our world. Subscribe to BIOtechNOW.

Upcoming BIO Events

BIO India International Conference September 12 13, 2012 Mumbai, India

Livestock Biotech Summit September 19 21, 2012 Kansas City, MO

BIO Investor Forum October 9 10, 2012 San Francisco, CA

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BIO Thanks Romney, Ryan for Supporting Energy Security and Standing Firm on the Renewable Fuel Standard