Agricultural Biorefinery Innovation and Opportunity Act of 2023

This bill expands federal support for biorefinery development by creating new competitive grants to fund pilot and demonstration-scale facilities that produce advanced biofuels (like ultra-low-carbon bioethanol), renewable chemicals, and biobased products. Eligible entities, including companies and cooperatives, can apply for grants covering up to 60% of project costs, with funding prioritized based on criteria like environmental benefits, rural economic development potential, innovative feedstock use, and market viability. The legislation authorizes $100 million annually from 2024 through 2028 for these grants, while updating existing loan guarantee provisions to align with the new program structure. It directly affects developers of biorefinery technologies aiming to commercialize renewable biomass conversion processes.