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:6/16/2017)... ... June 16, 2017 , ... Cognition Corporation , ... two more sessions of its “From the Helm” Webinar Series. , The ... online templates for design control exercises. Led by David Cronin, Cognition’s CEO, the ...
(Date:6/15/2017)... ... 15, 2017 , ... Cybrexa Therapeutics, a start-up cancer therapeutics ... in the amount of $6 million. An investment vehicle affiliated with HighCape Partners, ... The Series B funding will enable Cybrexa to complete the build-out of its ...
(Date:6/15/2017)... ... 15, 2017 , ... Adam Equipment, a leading provider of ... lab workstation. The guide outlines the procedure in four simple steps, using comprehensive ... anti-vibration table, OIML/ASTM certified weights, and Adam DU specialized software. , A lab ...
(Date:6/14/2017)... USA – , ... ... June 14, 2017 -- Diagenode, a leading global provider ... has licensed a new technology specific for ChIP-sequencing from ... immunoprecipitation followed by sequencing (ChIP-seq) allows the study of ...
Breaking Biology Technology:
(Date:4/5/2017)... Allen Institute for Cell Science today announces the launch ... dynamic digital window into the human cell. The website ... deep learning to create predictive models of cell organization, ... suite of powerful tools. The Allen Cell Explorer will ... resources created and shared by the Allen Institute for ...
(Date:4/3/2017)... , April 3, 2017  Data captured ... engineering platform, detected a statistically significant association ... prior to treatment and objective response of ... potential to predict whether cancer patients will ... treatment, as well as to improve both pre-infusion ...
(Date:3/29/2017)... 29, 2017  higi, the health IT company that ... North America , today announced a Series B ... of EveryMove. The new investment and acquisition accelerates higi,s ... to transform population health activities through the collection and ... higi collects and secures data today on behalf ...
Breaking Biology News(10 mins):