Growth Energy: Administration Commitment to Next Generation Biofuels Key

WASHINGTON, DC – A $105 million loan from the U.S. Department of Energy given to POET’s cellulosic biorefinery in Emmetsburg, Iowa to assist in the development of Project Liberty, will help spur commercialization of cellulosic ethanol, according to a statement released today by Growth Energy, the leading voice for U.S. ethanol supporters. The loan commitment will help construct a cellulosic ethanol plant that will produce 25 million-gallon-per-year from corn cobs, leaves, husks and some stalks.

“This loan guarantee will help bring us one step closer to the commercial production of cellulosic ethanol and toward reducing our dependence on foreign oil. We want to commend POET for continually demonstrating that support for corn-based ethanol opens the door for the production of second-generation biofuels,” said Growth Energy CEO Tom Buis.

“Furthermore, Energy Secretary Steven Chu and Agriculture Secretary Tom Vilsack’s commitment to the commercial development of cellulosic ethanol will not only create jobs in rural America, it will also help clean our atmosphere and secure America’s energy future. This is truly a win-win for every American.”