POET’s Plans For 3.5 Billion Gallons Of Cellulosic Ethanol By 2022
on April 26th, 2010 at 7:09 am
POET's Cellolosic Ethanol Pilot Plant
Within 10 years of it’s Emmetsburg, Iowa plant’s projected completion date the world’s largest ethanol producer plans to become even larger. In a speech to the National Press Club in Washington D.C. CEO Jeff Broin ”By 2022, POET plans to be responsible for 3.5 billion gallons of cellulosic ethanol production by adding the technology to our existing facilities, licensing our technology to other producers and finally, transferring our technology to other forms of biomass such as wheat straw, switchgrass and municipal waste.”
The ethanol giant still has several hurdles to clear to make this happen however, including a loan guarantee from the U.S. Department of Energy (DOE). Since congress has set a target of 16 billion gallons of cellulosic ethanol by 2022 it would be hard to imagine POET not receiving the DOE’s support. Their main worries I imagine are possible back lash from taxpayers that are subsidizing US ethanol production.
Read the rest of the press release here along with recorded audio of Jeff Broin’s speech.
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