Gov. Perry Encourages Private Sector Investments in Energy Innovation

Press Release

Gov. Perry Encourages Private Sector Investments in Energy Innovation

Gov. Rick Perry today encouraged continued investment in researching and marketing alternative energy sources as a way to move Texas and the U.S. toward energy independence at a dedication ceremony for Terrabon's biofuels conversion facility.

"Energy independence has become a critical goal as the worldwide demand for energy continues to rise, and traditional energy sources can no longer be solely depended on to provide the resources needed," Gov. Perry said. "To advance to the next generation of energy technologies, we must continue to develop and refine new ideas and take some risk to produce and market them through innovation and competitive markets."

The governor noted that energy independence would not be achieved through government regulations and taxes, rather through innovation and competitive markets. He also emphasized the importance of creating the Texas Advisory Panel on Federal Environmental Regulation, which will research and report on impending legislation that could be potentially harmful to the state's energy sector.

Texas is the leading energy producer in the nation, contributing nearly a quarter of the nation's crude oil production, nearly a third of the nation's natural gas supply and more than a quarter of the country's refining capacity. Texas also leads the nation in wind energy production and the amount of installed wind capacity.

Diversifying the state's energy portfolio remains a priority for Gov. Perry. In 2007, he charged the Governor's Competitiveness Council with developing recommendations for Texas' future energy production needs. The council's report emphasized the need for a combination of renewable energy, such as wind, solar and biomass, with innovative sources such as clean coal and nuclear.

Terrabon is focused on developing and deploying cutting-edge technologies for biomass conversion and water desalination. The facility will test the commercial feasibility of its MixAlco technology, which converts readily-available, low cost, non-food biomass into chemicals that can be processed into renewable gasoline fuels, ethanol, and other industrial products. Unlike other renewable fuels processes that primarily make ethanol from food-based feedstock such as corn, Terrabon's process utilizes waste products such as municipal solid waste, sewage, forest residues and non-food crops.

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