POET targets $30 to $60 per ton payments for corn stover; SynGest aims for $50 per ton for renewable ammonia fertilizer plant

In Iowa, POET confirmed that it is targeting payments to farmers of $30 to $60 per ton for corn stover (cobs and stalk), and said that farmers could increase these payments through the Biomass Crop Assistance Program. An Iowa farm averages 1.5 tons of corn stover per acre, or $45-$90 per acre in value before BCAP payments are considered.

POET is constructing a 25 Mgy cellulosic ethanol plant in Emmitsburg that will open in 2011.

A competing use for corn cons is the $80 million ammonia fertilizer facility planned by SynGest for the town of Menlo, that will process 130,000 tons of cobs per year into 50,000 tons of renewable fertilizer. SynGest is targeting $50 per ton for cobs.

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