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POET’s vision for cellulosic ethanol

POET CEO Jeff Broin says that by 2022 POET plans to be helping produce 3.5 billion gallons of cellulosic ethanol, but speaking at the National Press Club is Washington, D.C. on Wednesday, April 21.

Broin said there is a role for policy-makers to play in overcoming the remaining hurdles to commercializing the cellulosic ethanol production process. “In order for this vision to become a reality, policy makers must provide access to the market and the stability needed to attract the large amount of capital that will be required to finance its construction,” Broin said.

For their part, POET will add technology to existing facilities, license their technology to other producers and transfer POET technology to other forms of biomass.

POET has also filed an application for a loan guarantee with the Department of Energy that if approved in a timely manner, POET will remain on schedule.

“We filed an application with the DOE this morning and need to have a favorable ruling from them this calendar year,” Broin said. “If we get that favorable ruling, we told the DOE that we will start construction by the end of this year, which puts us on track to start up the facility in early 2012.”