Iowa Power Fund Board to Award $14.75M to POET for Cellulosic Ethanol Plant
27 February 2009
The Iowa Power Fund Board approved the award of $14.75 million to assist POET in developing a commercial-scale cellulosic ethanol plant capable of producing 25 million gallons per year.
POET will use corn fiber and corn cobs in addition to their existing ethanol plant in Emmetsburg, Iowa. The Iowa Office of Energy Independence and Power Fund Board will receive quarterly reports to track the activities in relation to collection, storage, and transportation of Lignocellulose to measure cost-effectiveness and replicability.
Matching funds for the project are $216.25 million.
An important "game-changing" advance in the conversion of scrap iron into ethanol.
First corn was consumed, now POET will make ethanol from corn fiber and corn cobs in addition to their existing ethanol plant in Emmetsburg, Iowa.
Posted by: ToppaTom | 27 February 2009 at 01:25 AM
When I'm in Iowa visiting, I always pass on using the cheaper ethonal because the gas mileage I get is lousy. I don't like visiting gas stations often either.
I'd like to see what the breakeven price is between regular gas and ethanol not on a gallon to gallon basis but on a 500 miles driven basis. Maybe the cars have to be tuned differently to get decent mileage on ethanol
Posted by: TM | 27 February 2009 at 07:41 AM