S. 2598: Forest Bioeconomy Act

This bill, known as the Forest Bioeconomy Act, aims to enhance research and development related to forest products and the use of mass timber in construction. The main objectives and provisions include:

Research and Market Development

The Secretary of Agriculture, in partnership with the Secretary of Energy, will expand research on the use of wood to:

• Create new markets for forest materials that currently have little or no commercial value.
• Improve the economic viability of manufacturing products using these materials.
• Use these materials as feedstock for producing renewable fuels, such as sustainable aviation fuel.

Office of Technology Transfer

A new Office of Technology Transfer will be established within the Forest Service. Its goals include:

• Increasing the commercial impact of research investments made by the Forest Service.
• Facilitating the commercialization of technologies developed by the Forest Service.

A Chief Commercialization Officer will head this office, responsible for overseeing technology transfer activities and collaborating with private sector entities on tech commercialization.

Technology Transfer Working Group

This working group will coordinate technology transfer efforts at Forest Service labs, develop guidance for researchers, and report to Congress on various research agreements and licensing activities every year. They will help enhance collaboration between the Forest Service and private sectors.

Small Business Innovation Voucher Program

A pilot program will provide small businesses with vouchers for utilizing Forest Service research facilities. These vouchers can support:

• Research and development initiatives
• Skills training
• Commercial application activities

Requirements for cost-sharing will help ensure joint investment in research and product development activities.

Mass Timber Science and Education Program

The bill proposes the establishment of a mass timber science and education program aimed at supporting architects, developers, and the forest products industry. Key aspects will include:

• Conducting practical research on mass timber, assessing its carbon impacts, performance in fire safety, energy efficiency, and construction methods.
• Encouraging competitive funding for research projects through a peer-review process.
• Developing and facilitating curriculum changes in schools of engineering and architecture to improve knowledge of mass timber.

The Secretary will coordinate with colleges and universities to align educational efforts with emerging industry needs.

Funding and Reporting Requirements

The bill authorizes $5 million annually for the research activities outlined. Additionally, it establishes reporting requirements to ensure transparency and accountability in expenditures and outcomes related to technology transfer and innovation.

Relevant Companies

• LDOS - Leidos Holdings, Inc. - This company may be involved in sustainable building projects and could see opportunities in using mass timber in construction.
• FLR - Fluor Corporation - As a major engineering and construction firm, Fluor might integrate advanced forest product technologies into its projects.
• DRI - D.R. Horton, Inc. - A large homebuilding company that could adopt mass timber methods in residential building as it aligns with sustainable practices.