DOE makes $76.3 million second phase grant to POET for 25 Mgy corn cob cellulosic ethanol plant in Iowa; new project to increase corn yield by 27 percent

In South Dakota, the US Department of Energy announced that it will grant POET $76.3 million towards commercialization of cellulosic ethanol production technology.

DOE previously awarded POET up to $80 million in federal funding in February 2007 for the construction of a demonstration-level cellulosic ethanol plant employing corn cobs and other agricultural residues. The first phase funding of $3.7 million for preliminary design, engineering and feedstock collection was agreed last October.

The new agreement will provide funding towards final design, construction, start-up and continuous operation of what POET is calling Project Liberty. The funds will be used to add a cellulosic ethanol processing component to the POET plant in Emmitsburg, IA. Ultimately, the plant will produce 100 Mgy of corn ethanol and 25 Mgy of cellulosic ethanol. The project will all 27 percent in yield from an acre of corn. Construction will begin in 2009 and is expected to be complete by 2011.

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