POET CEO says Energy Bill is good for first-generation biofuels, great for second-generation; others say “a politically driven subsidy package”

In South Dakota, the CEO of POET said that the new Energy Bill is good news for corn ethanol and great news for second-generation fuels such as cellulosic ethanol. Jeff Broin said Poet is spending $10 million per year on R&D to have cellulosic ethanol on the market by 2013.

Other industry execs were not so enthusiastic about the Bill. “I am fearful that this legislation may end up as a politically driven subsidy package with little if any redeeming economic value,” said Tim Curtiss, former CEO of Liquid Resources. “The lack of good legislation at the national level is why the US is so far behind Germany and other European nations in renewables,” he added.

Poet recently received an $80 million grant from the US Department of Energy in support of cellulosic ethanol demonstration plant development. Poet will produce cellulosic ethanol at its 50 Mgy Emmetsburg plant, which will be expanded to a total production of 94 million gallons per year (Mgy) of corn ethanol and 31 Mgy of cellulosic ethanol.
Last month, POET and Mueller Pallets of Tea announced a deal under which Mueller Pallets will bring 54 to 125 thousand tons of wood waste to the Chancellor facility. POET will add a solid waste fuel boiler to produce more than 50 percent of the plant’s power needs.

In September, Poet announced plans to expand its plant in Emmetsburg, IA, to produce cellulosic ethanol.

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