The Bioeconomy Institute (BEI) at Iowa State University seeks to advance the use of biorenewable resources for the production of fuels, energy, chemicals, and materials. The Institute will assure Iowa’s prominence in the revolution that is changing the way society obtains its essential sources of energy and carbon. This revolution will dramatically reduce our dependence on petroleum. Instead of fossil sources of carbon and energy, the bioeconomy will use biomass (including lignocellulose, starches, oils and proteins) as a renewable resource to sustain economic growth and prosperity. Agriculture will supply renewable energy and carbon to the bioeconomy while engineering will transform these resources into transportation fuels, commodity chemicals, and electric power. This transformation, however, must be done in a manner that meets our present needs without compromising those of future generations.