Agricultural Biorefinery Innovation and Opportunity Act of 2023

This bill expands federal support for agricultural biorefineries and renewable chemical producers by creating a new competitive grant program. It provides up to $40 million annually (2024-2028) to fund pilot or demonstration-scale facilities that convert renewable biomass into advanced biofuels (including ultra-low-carbon bioethanol), renewable chemicals, and biobased products. The grants cover up to 60% of project costs, with applications evaluated based on factors like environmental benefits, rural economic development potential, use of innovative feedstocks, and market viability. Eligible applicants include agricultural businesses and rural entities developing these technologies, aiming to advance commercial viability and domestic energy security.