Navigation Links
POET Receives Additional $76 Million in Federal Funding For Commercialization of Cellulosic Ethanol
Date:10/7/2008

POET today announced that it will receive $76.3 million from the U.S. Department of Energy (DOE) to commercialize cellulosic ethanol production technology.

Sioux Falls, S.D. (Vocus) October 7, 2008-- POET, the largest producer of ethanol in the world, today announced that it will receive $76.3 million from the U.S. Department of Energy (DOE) to commercialize cellulosic ethanol production technology. A renewable, home-grown energy alternative, cellulosic ethanol produced from plants materials such as corn cobs and switchgrass has the potential to cut life cycle greenhouse gas emissions by up to 86 percent relative to gasoline.

In February 2007, POET was selected by the DOE for a total award of up to $80 million in federal funding for the construction of a commercial cellulosic ethanol production facility. The first phase of the agreement was signed in October 2007 and provided POET with an initial $3.7 million for preliminary design, engineering and feedstock collection. The agreement announced today provides the remaining $76.3 million for final design, construction, start-up and continuous operation of Project LIBERTY.

"Our company is honored to work with DOE on a project of such importance to our country," said Jeff Broin, CEO of POET. "It is universally accepted that we can't continue to spend hundreds of billions of dollars annually on imported oil. With more than a billion tons of available biomass in the U.S. and continued increases in crop yields, we can sustainably produce enough ethanol to displace almost all of the gasoline consumed in this country.

"Grain based ethanol has been and will continue to be an important part of our country's energy supply," Broin continued. "By pairing the production of cellulosic ethanol with our existing infrastructure of corn-based ethanol, we will continue to improve corn ethanol and accelerate the commercialization of cellulosic ethanol."

Project LIBERTY, the transformation of a 50 MGPY grain-to-ethanol plant in Emmetsburg, Iowa into an integrated corn-to-ethanol and cellulose-to-ethanol biorefinery, is jointly funded by POET and the DOE. Once complete, the facility will produce 125 MGPY, of which 25 million gallons will be from corn fiber and corn cobs. By adding cellulosic production to an existing grain ethanol plant, POET will be able to produce 11 percent more ethanol from a bushel of corn and 27 percent more from an acre of corn while reducing fossil fuel consumption and water use. Construction is projected to begin in 2009 and production of cellulosic ethanol could come as early as 2011.

About POET
The largest ethanol producer in the world according to the Renewable Fuels Association, POET is an established leader in the biorefining industry through project development, design and construction, research and development, plant management, and marketing. The 20-year old company currently operates 25 production facilities in the United States with one more under construction. The company produces and markets more than 1.4 billion gallons of ethanol and 350 million tons of distillers grains annually. For more information, go to http://www.poet.com.

CONTACT:
Nathan Schock, Director, Public Relations
Phone: (605) 965-6428   Mobile: (605) 759-4802
E-mail: nathan.schock@poet.com

###

Read the full story at http://www.prweb.com/releases/POET/Ethanol/prweb1439954.htm


'/>"/>
Source: PRWeb
Copyright©2008 Vocus, Inc.
All rights reserved  

Related biology technology :

1. Imaging Diagnostic Systems Receives its First Order for its CT Laser Mammography System for Israel
2. BioMS Medicals relapsing-remitting multiple sclerosis trial receives positive review from Data Safety Monitoring Board
3. deCODE Receives Nasdaq Deficiency Notice Relating to Market Value
4. Botaneco receives natural ingredient approval from ECOCERT(R) for Hydresia(TM) G2
5. Monogram Receives NASDAQ Notification
6. BioMS Medicals phase III U.S. multiple sclerosis trial receives positive safety review from Data Safety Monitoring Board
7. Childrens Hospital of Pittsburgh of UPMC Receives Prestigious Recognition for Patient Safety Efforts in National Survey
8. University of Southern California Receives Cancer Diagnosis System for Detecting Esophageal Dysplasia
9. Celsis Receives Frost & Sullivan 2008 Best Practices Award
10. Cepheid Receives FDA Clearance for First On-Demand Diagnostic Test for Life-Threatening MRSA and Staphylococcus aureus From Patient Positive Blood Cultures
11. Cylex(TM) Receives ISO 13485:2003 and 9001:2000 Quality Certifications
Post Your Comments:
*Name:
*Comment:
*Email:
Related Image:
POET Receives Additional $76 Million in Federal Funding For Commercialization of Cellulosic Ethanol 
(Date:12/2/2016)... PUNE, India , December 2, 2016 ... Billion by 2021, growing at a CAGR of 7.3% during the ... segment while hospitals and diagnostic laboratories segment accounted for the largest ... ... Complete report on global immunohistochemistry (IHC) market spread across 225 ...
(Date:11/30/2016)... , Nov. 30, 2016  GenomOncology today announced the appointment ... of Medical Affairs.  Dr. Coleman will oversee ... company,s proprietary knowledge-enabled platform. The GenomOncology software suite empowers molecular ... sequencing data and clinical decision support, from quality control through ... , , ...
(Date:11/30/2016)... RATON, Fla. , Nov. 30, 2016 ... biotherapeutic products, is pleased to announce the addition of ... Avenue Kearney, Nebraska . The 15,200 ... business on November 29th, 2016 and brings the total ... Ileana Carlisle , BPC,s Chief Executive ...
(Date:11/30/2016)... 30, 2016  Tempus, a technology company focused ... Penn,s Abramson Cancer Center have partnered to better ... to immunotherapy treatment based on next generation genomic ... of a research collaboration, Tempus will provide sequencing ... patient data to Penn. Utilizing next-generation sequencing, machine ...
Breaking Biology Technology:
(Date:11/24/2016)... 23, 2016 Cercacor today introduced Ember TM ... trainers non-invasively measure hemoglobin, Oxygen Content, Oxygen ... Respiration Rate in approximately 30 seconds. Smaller than a ... immediate access to key data about their bodies to ... regimen. Hemoglobin carries oxygen to muscles. ...
(Date:11/17/2016)... Global Market Watch: Primarily supported by ... Banks and Academics) market is to witness a value of ... the highest Compounded Annual Growth Rate (CAGR) of 10.75% is ... analysis period 2014-2020. North America is ... Europe at 9.56% respectively. Report ...
(Date:11/14/2016)... Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), ... in challenging operating environments, announced its results for the ... a conference call to discuss these results on November ... Key Recent Accomplishments ... acquire Vislink Communication Systems. The purchase is expected to ...
Breaking Biology News(10 mins):