POET finalizes $14.75 million grant from Iowa Power Fund for 25 Mgy cellulosic ethanol plant

In Iowa, POET CEO Jeff Broin said that the Iowa Power Fund Board has approved a $14.75 million contract with POET for development of the $200 million, 25 Mgy Project Liberty cellulosic ethanol plant in Emmetsburg, Iowa.

Late last year, POET and the Iowa Power Fund Board agreed to terms surrounding the project, and final approval has now been received. The project will begin production in 2011, and produce cellulosic ethanol from corn fiber and corn cobs alongside an existing corn ethanol plant, permitting POET to produce 11 percent more ethanol per bushel of corn and 27 percent more ethanol per acre of corn, while reducing fossil fuel and water inputs.

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