POET to Announce Milestone in Cellulosic Ethanol Production

Sioux Falls, South Dakota [] At the Fuel Ethanol Workshop in St. Louis, Missouri, Jeff Broin, President & CEO of POET and Dr. Mark Stowers, VP of R&D for POET, will announce a milestone reached toward the commercial production of cellulosic ethanol. The project will expand an existing 50 million gallon per year (mgpy) dry-mill production facility in Emmetsburg, Iowa, into a 125 mgpy cellulosic biorefinery that will produce ethanol from grain and agricultural residue. The announcement will be made on Wednesday, June 27, 2007. Since President Bush has set an annual production goal of 35 billion gallons of renewable fuel by the year 2017; industry experts believe that the U.S. could produce a maximum of 15 billion gallons of ethanol from grain per year by 2017. To reach the 35 billion gallon goal, much of it will have to come from cellulosic ethanol. Last February, it was announced that POET would design and construct a commercial cellulosic production facility to be jointly funded by POET and the U.S. Department of Energy.