POET applauds passage of the Energy Independence and Security Act of 2007
CEO says bill will decrease oil imports and accelerate cellulosic development
Tuesday, December 18, 2007
SIOUX FALLS, S.D. – POET, the world’s largest ethanol producer, applauded passage of the Energy Independence and Security Act of 2007 by the U.S. Congress. The bill, which includes a Renewable Fuel Standard (RFS) of 36 billion gallons by 2022, now goes to the President who has indicated that he will sign it into law.
Regarding passage of the bill, Jeff Broin, CEO of POET, said, “Our political leaders should be applauded for passing the Energy Independence and Security Act of 2007. This bill ensures that America will continue to develop a domestic, renewable energy source that will decrease our dependence on Middle Eastern Oil.
Passage of this Act will also hasten the development of cellulosic ethanol,” Broin said. “An expanded RFS gives confidence to companies like ours who are making a sizable investment in cellulosic ethanol. With the market in place, our industry can do even more to improve the environment, develop rural economies and lessen our country’s dependence on foreign oil.
POET, the largest dry mill ethanol producer in the United States, is an established leader in the biorefining industry through project development, design and construction, research and development, plant management, and marketing. Formerly known as Broin, the 20-year old company currently operates 21 production facilities in the United States with six more in construction or in the midst of expansion. The company produces and markets more than 1.1 billion gallons of ethanol annually. For more information, go to http://www.poetenergy.com.
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