What is the market potential for cellulosic ethanol?
Today’s annual global biofuels market is estimated at 26 billion gallons (100 million litres). Many governments across the world have set targets to help increase their countries’ production of second-generation biofuels. The goal of these countries is the production of transportation fuels that are less harmful to the environment and that will reduce their dependence on petroleum. In the United States alone, the Energy Independence and Security Act targets 36 billion gallons of biofuel by 2022, including 20 billion gallons of cellulosic ethanol and other second-generation biofuels. The estimated value of the U.S. market is $50 billion [US] in 2022.
