POET Press Releases, News Links, & Events

POET and DSM to make advanced biofuels a reality by 2013 (1/23/2012)

Mon, 23 Jan 2012 00:00:01 CST

Project LIBERTY/Cellulosic Ethanol

POET, LLC, one of the world's largest ethanol producers, and Royal DSM, the global Life Sciences and Materials Sciences company, today announce a joint venture to commercially demonstrate and license cellulosic bio-ethanol, the next step in the development of biofuels, based on their proprietary and complementary technologies. POET-DSM Advanced Biofuels, LLC, is scheduled to start production in the second half of 2013 at one of the first commercial-scale cellulosic ethanol plants in the United States.

The two partners will produce cellulosic ethanol from corn crop residue through a biological process using enzymatic hydrolysis followed by fermentation. The first commercial demonstration of the technology will be at Project Liberty, which is currently being constructed adjacent to POET's existing corn ethanol plant in Emmetsburg, Iowa. The initial capacity is expected to be 20 million gallons in the first year, growing to approximately 25 million gallons per year.

POET-DSM Advanced Biofuels, LLC, intends to replicate and license the technology to additional plants to be built at the other 26 corn ethanol facilities in POET's network and license it to other producers in the United States and the rest of the world. The U.S. Environmental Protection Agency (EPA) estimates that in the United States as many as 350-400 new bio-refineries will have to be constructed by 2022 to meet the volume requirement of 16 billion gallons/year of cellulosic bio-ethanol under the Renewable Fuel Standard.

DSM and POET will each hold a 50% share in the joint venture, which will be headquartered in Sioux Falls, South Dakota. The initial capital expenditure by the joint venture in project Liberty will amount to about $250 million. The closing of the joint venture is subject to regulatory approvals and other customary closing conditions.

Both partners in the joint venture bring deep expertise and experience in different areas of cellulosic bio-ethanol. They also share the same vision for a bio-based economy.

Jeff Broin, POET founder and CEO, said: "This joint venture brings together two companies leading the transition from a fossil-based economy to a bio-based economy. The partnership has set an ambitious goal: to make cellulosic bio-ethanol competitive with corn ethanol, which is the most competitive liquid transportation fuel on the market today. We believe that the joint venture positions us well to meet our ambitious cellulosic ethanol production goals."

Feike Sijbesma, CEO/Chairman of the DSM Managing Board, commented: "This cooperation is a milestone in realizing DSM's strategy. By leveraging the unique opportunities in Life Sciences and Materials Sciences we can contribute our heritage of over a century in both biotechnology and chemistry to this joint venture with a biofuels leader. Together we shall deliver the key to unlock the cellulosic bio-ethanol opportunity. As the world is facing unprecedented challenges with a growing population making an ever bigger claim on the planet's resources, we need to accelerate the transition to a bio-based economy and this joint venture is a significant step in that direction."

As one of the world's largest producers of corn ethanol, POET has been actively developing cellulosic bio-ethanol for more than a decade. In November, 2008, the company started operating a cellulosic bio-ethanol pilot plant at its research center in Scotland, South Dakota. For the past five years, POET has been working with farmers to bale, transport and store corn crop residuethe cobs, leaves, husks and some stalk left in the field after the grain harvest.

DSM already has a unique position in the development of cellulosic ethanol as the only company offering both yeast and enzyme solutions to increase conversion rates to make the technology commercially viable. DSM has vast experience in scaling up biotechnological processes and an extensive global footprint and relationships to help accelerate technology adoption in key markets.

Cellulosic bio-ethanol from corn crop residue represents a large opportunity. If the technology is replicated at POET's network of 27 existing corn ethanol plants, it could produce up to one billion gallons of cellulosic bio-ethanol per year.

In an analysis of the Renewable Fuel Standard, the U.S. EPA projected 7.8 billion gallons of cellulosic bio-ethanol coming from corn crop residue by 2022. Beyond that, the U.S. Departments of Energy and Agriculture have estimated that more than one billion tons of biomass is available in America that could produce enough cellulosic bio-ethanol to replace a third of the country's gasoline use.

POET-DSM Advanced Biofuels, LLC, is a 50/50 joint venture between Royal DSM and POET, LLC. Based in Sioux Falls, South Dakota, the company is a cooperative effort of two innovators that provides the key to unlocking the opportunity of converting corn crop residue into cellulosic bio-ethanol. Built on the strengths of both companies the joint venture has a critical mission: to make cellulosic bio-ethanol competitive with corn ethanol, the most competitive renewable liquid transportation fuel on the market today. Drawing on the deep expertise and experience of POET and DSM in different areas of converting cellulosic biomass into ethanol, POET - DSM Advanced Biofuels will have its first commercial-scale plant co-located with POET's biorefinery in Emmetsburg, Iowa. Based on this plant the JV will globally license an integrated technology package for the conversion of corn crop residue to cellulosic bio-ethanol. More information: www.poetdsm.com

About POET

POET, one of the world's largest ethanol producers, is a leader in biorefining through its efficient, vertically integrated approach to production. The 25-year-old company has a production capacity in excess of 1.6 billion gallons of ethanol and 9 billion pounds of high-protein animal feed annually from its network of 27 production facilities. POET also operates a pilot-scale cellulosic bio-ethanol plant, which uses corn cobs, leaves, husk and some stalk as feedstock, and expects to commercialize the process in Emmetsburg, Iowa. For more information, visit http://www.poet.com.

DSM -- Bright Science. Brighter Living.(TM)

Royal DSM N.V. is a global science-based company active in health, nutrition and materials. By connecting its unique competences in Life Sciences and Materials Sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM's 22,000 employees deliver annual net sales of about 9 billion. The company is listed on NYSE Euronext. More information can be found at www.dsm.com

Forward-looking statements

This press release may contain forward-looking statements with respect to DSM's future (financial) performance and position. Such statements are based on current expectations, estimates and projections of DSM and information currently available to the company. DSM cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. DSM has no obligation to update the statements contained in this press release, unless required by law. The English language version of the press release is leading.

With new cellulosic ethanol joint venture, POET to decline DOE loan guarantee before drawing funds (1/23/2012)

Mon, 23 Jan 2012 00:00:01 CST

Project LIBERTY/Cellulosic Ethanol

WASHINGTON, DC (January 23, 2012) -- In light of its joint venture with DSM, POET does not plan to utilize the loan guarantee it was awarded by the U.S. Department of Energy (DOE). POET received a commitment for a $105 million loan guarantee to finance Project LIBERTY on September 23, 2011. Upon the closing of the joint venture, POET will officially decline the guarantee prior to drawing any funds.

"The loan guarantee commitment from the DOE was an important milestone in our quest to commercialize cellulosic ethanol, and we are appreciative of the work they put into the due diligence process," POET founder and CEO Jeff Broin said. "We believe that the joint venture with DSM positions us well to meet our ambitious cellulosic ethanol production goals, and thus the loan guarantee has become unnecessary."

Earlier today, POET announced a joint venture with DSM, the global Life Sciences and Materials Sciences company, to commercially demonstrate and license cellulosic ethanol. For more information on Project LIBERTY and the POET -- DSM Cellulosic Ethanol joint venture, please visit http://www.poetdsm.com/

About POET

POET, one of the world's largest ethanol producers, is a leader in biorefining through its efficient, vertically integrated approach to production. The 25-year-old company has a production capacity in excess of 1.6 billion gallons of ethanol and 9 billion pounds of high-protein animal feed annually from its network of 27 production facilities. POET also operates a pilot-scale cellulosic bio-ethanol plant, which uses corn cobs, leaves, husk and some stalk as feedstock, and expects to commercialize the process in Emmetsburg, Iowa. For more information, visit http://www.poet.com

POET drops annual water use by 770 million gallons since 2009 (12/8/2011)

Thu, 08 Dec 2011 00:00:01 CST

General Press Releases

POET is more than 75 percent of the way to achieving the water reduction goal the company set under the environmental initiative "Ingreenuity."

With startup of the proprietary Total Water Recovery system at its 18th ethanol production facility, POET Biorefining -- Chancellor (S.D.), POET has now reduced water use by more than 770 million gallons per year over 2009 numbers. The goal under Ingreenuity is to reduce water use by 1 billion gallons annually by 2015.

"We've made reducing water use a priority at our plants, and it shows," POET CEO Jeff Broin said. "I'm confident that we can reach our overall water use goal, and this bodes well for coming Ingreenuity goals as well. Water is a precious natural resource and our company is committed to doing everything we can to conserve it."

Chancellor's Total Water Recovery System saves the plant 131 million gallons of water per year. That savings means Chancellor uses 2.6 gallons of water for each gallon of ethanol produced, down from 3.5.

"The water savings, coupled with the alternative power sources of wood waste and landfill gas mean this is one of the most environmentally friendly ethanol plants in the world," General Manager Brian Wilt said.

Eighteen POET plants now have Total Water Recovery systems. In Iowa, they are POET Biorefining -- Ashton, Gowrie, Jewell and Hanlontown. In South Dakota, they are POET Biorefining -- Mitchell, Hudson and Chancellor. In Minnesota, they are POET Biorefining -- Bingham Lake and Lake Crystal. In Indiana, they are POET Biorefining -- Portland, North Manchester, Cloverdale and Alexandria. In Ohio, they are POET Biorefining -- Leipsic, Marion and Fostoria. POET Biorefining -- Caro (Mich.) and POET Biorefining -- Laddonia (Mo.) have also installed the technology.

About POET
POET, the largest ethanol producer in the world, is a leader in biorefining through its efficient, vertically integrated approach to production. The 23-year-old company produces more than 1.7 billion gallons of ethanol and 10 billion pounds of high-protein animal feed annually from 27 production facilities nationwide. POET also operates a pilot-scale cellulosic ethanol plant, which uses corn cobs, leaves, husk and some stalk as feedstock, and will commercialize the process in Emmetsburg, Iowa. For more information, visit http://www.poet.com.

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By year end, POET to produce enough corn oil for 12 million gallons per year of biodiesel (12/1/2011)

Thu, 01 Dec 2011 00:00:01 CST

Corporate News & Announcements

Video: POET Nutrition's Director of Business Development Clayton Vaughan answers questions about Voil.
--- With its patent-pending technology expanding to a total of 6 plants, POET will produce corn oil as feedstock for 12 million gallons of biodiesel per year by the end of 2011.

POET has been selling Voil(TM) corn oil into biodiesel and feed markets since January, and new capacity is now coming online as the company continues to roll out the technology to more plants.

POET Biorefining -- Hudson (S.D.) was the first to produce Voil. Since then, the technology has been installed in five more POET plants, with more on the way in 2012. Plants that are producing corn oil today are POET Biorefining -- Emmetsburg, Gowrie, Jewell and Hanlontown in Iowa. POET Biorefining -- Laddonia (Mo.) is starting up over the next week. The six plants' combined capacity is about 100 million pounds of corn oil per year.

"Voil has been a very strong part of POET's business this year, and I'm excited to see more plants getting this technology," POET founder and CEO Jeff Broin said. "The more we can diversify into new profitable products, the more successful our plants will be."

Voil is just one item on POET's growing list of products created at its plants. In addition to ethanol, POET produces quality products for animal feed including Dakota Gold distillers dried grains. POET also captures carbon dioxide at seven of its plants for sale to beverage producers, and the company last year unveiled Inviz(TM), a zein product used to replace petroleum-based films and coatings.

"This is pretty exciting. We're producing energy as a by-product of energy," Broin said. "It's incredible to see how many different things we can get from a kernel of corn."

See the attached video Q&A for more information about Voil.

About POET
POET, the largest ethanol producer in the world, is a leader in biorefining through its efficient, vertically integrated approach to production. The 23-year-old company produces more than 1.7 billion gallons of ethanol and 10 billion pounds of high-protein animal feed annually from 27 production facilities nationwide. POET also operates a pilot-scale cellulosic ethanol plant, which uses corn cobs, leaves, husk and some stalk as feedstock, and will commercialize the process in Emmetsburg, Iowa. For more information, visit http://www.poet.com.

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Below: A truck loads corn oil at POET Biorefining - Gowrie.

Ethanol tax credits set to expire, pump prices set to rise (12/6/2011)

Tue, 06 Dec 2011 00:00:01 CST

from KTIV (Sioux City, Iowa)

Ag Show continues: POET representative gives update on Emmetsburg plant progress (12/1/2011)

Thu, 01 Dec 2011 00:00:01 CST

The Messenger (Ft. Dodge, Iowa)

Iowa Farmers Prep for New Cellulosic Ethanol Biofuel Plant (11/14/2011)

Mon, 14 Nov 2011 00:00:01 CST

TriplePundit

Cellulosic Ethanol ‘Floodgates' May Open in 2013, Poet LLC Says (10/17/2011)

Mon, 17 Oct 2011 00:00:01 CST

from Bloomberg

F.O. Licht World Ethanol and Biofuels 2011 (Barcelona)

Mon, 07 Nov 2011 00:00:01 CST

Event Date(s): 11/7/2011 - 11/10/2011

F.O. Licht World Ethanol and Biofuels 2011

POET Vice President of Corporate Affairs Doug Berven will outline POET's views on the future of ethanol from both corn and cellulose and opportunities for growth at F.O. Licht World Ethanol and Biofuels 2011 in Barcelona, Spain.

On Tuesday, Nov. 8, Berven will host a roundtable titled "Biofuel Growth Strategies." It will address topics including improving on the process of producing ethanol from corn and Project LIBERTY, a 25 million-gallon-per-year ethanol plant that will use corn cobs, leaves, husks and some stalk as feedstock. He will also discuss the ethanol market in coming years.

The roundtable will be held at 2 p.m. at the W Barcelona hotel.

Platts Next Generation Biofuels (Chicago)

Mon, 31 Oct 2011 00:00:01 CST

Event Date(s): 10/31/2011 - 11/1/2011
Gathering, transporting and storing 770 tons of biomass per day is a significant challenge to making cellulosic ethanol work, and POET has learned many lessons over the years working with farmers to organize that supply chain for Project LIBERTY.

POET will share some of those lessons Monday in a panel at the Platts Next Generation Biofuels conference in Chicago. Vice President of Commercial Development Scott Weishaar will outline the challenges and strategies in gathering and transporting bales of corn cobs, leaves, husk and some stalk for cellulosic ethanol.

Project LIBERTY is POET's planned 25 million-gallon-per-year cellulosic ethanol plant, scheduled to come online in Emmetsburg, Iowa in 2013. Area farmers last year delivered 56,000 tons of biomass to POET's 22-acre stack yard on the site, and this year's harvest is even bigger.

Weishaar will speak in a panel titled "Challenges of Feedstock Supply for a Growing Industry" Monday at 2 p.m. at the InterContinental Magnificent Mile hotel in Chicago.

Ohio Governor's 21st Century Energy & Economic Summit (Ohio Union at The Ohio State University)

Wed, 21 Sep 2011 00:00:01 CST

Event Date(s): 9/21/2011 - 9/22/2011
POET CEO Jeff Broin will discuss the current and future roles of ethanol in Ohio's economy, transportation system and job market in a panel discussion at the Ohio Governor's 21st Century Energy & Economic Summit in Columbus, Ohio next week.

Broin will take part in the panel session titled "Alternative Transportation Fuels" on Thursday, Sept. 22 at 8:45 a.m. EST at the Ohio Union at The Ohio State University. He will join Nancy L. Gioia, Director of Global Electrification for Ford Motor Co.; Jon Lauckner, President of General Motors Ventures, LLC; and Shane A. Terblanche, General Manager, Hybrid Drives Systems Division for Parker Hannifin Corporation.

The session will be Webcast live at http://www.battelle.org/conferences/ohioenergy/

POET has plants in Fostoria, Leipsic and Marion, Ohio with a combined production capacity of 219 million gallons per year.

New EventRenewable Energy Technology Conference & Exhibition (RETECH) (Washington, D.C. - Walter E. Washington Convention Center.)

Wed, 21 Sep 2011 00:00:01 CST

Event Date(s): 9/21/2011
Producers continued to improve the process of making ethanol as production ramped up over the last decade. That trend bodes well for the industry's future as new market opportunities arise.

POET Vice President of Corporate Affairs Doug Berven will discuss how changes in ethanol production throughout the 2000's have put the industry on strong footing for future growth at the 3rd annual Renewable Energy Technology Conference & Exhibition (RETECH) next week in Washington, D.C.

Berven will be a panelist in a session titled "Conventional Biofuels -- Where do we go from here?" on Wednesday, Sept. 21 from 8:30-10 a.m. EST at the Walter E. Washington Convention Center.

Berven will give a short presentation and answer questions. He will join David Vander Griend, President & CEO, ICM; David Kolsrud, President, DAK Renewable Energy; and Phil Madson, President & CEO, KATZEN International, Inc. in the session.