• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / Agriculture / $105 million federal loan approved for “cellulosic” ethanol plant in Iowa (audio)

$105 million federal loan approved for “cellulosic” ethanol plant in Iowa (audio)

July 7, 2011 By O. Kay Henderson

Federal officials are extending a $105 million loan guarantee for a new ethanol plant in Emmetsburg that will make the fuel out of corn cobs, stalks, leaves and husks. 

“This is an important step in our effort to move away from a debate of food-versus-fuel by using corn cobs and other agriculture waste material,” says U.S. Ag Secretary Tom Vilsack.

U.S. Energy Secretary Steven Chu says that’s a bigger financial return for the farmer, too.

“The same amount of plant now produces considerably more ethanol,” Chu says.

POET, the company that’s launching the project, says up to 200 people will work on the plant’s construction, which will begin in August. Vilsack calls the project a huge milestone in producing ethanol from the entire plant rather than just the corn kernel.

“I think we’ve finally got to that point, perhaps the tipping point, of getting this off the ground,” Vilsack says.

About 40 people will work at the facility once it’s built. The opening is pegged for May of 2013 and total construction costs are expected to top $260 million.

POET already has a plant in Emmetsburg that produces ethanol the traditional way, with corn and this new ethanol production facility that will make the fuel out of the rest of the corn plant will be on the same property.

Vilsack and Chu held a news conference by telephone this morning to announce the federal backing for the project.  Listen: cappoet

Share this:

  • Facebook
  • Twitter

Filed Under: Agriculture, Business, Politics / Govt Tagged With: Corn & Soybeans, Democratic Party, Tom Vilsack

Featured Stories

Testing finds 21 new CWD cases in deer

It may become a crime in Iowa to use fake urine in workplace drug tests

February trending 18 degrees below average temperature

Iowa House Education Committee votes to end tenure at UI, ISU, UNI

Man convicted of two Muscatine County murders dies in prison

TwitterFacebook
Tweets by RadioIowa

Key stretch begins for #9 Iowa

Drake’s Roman Penn lost for the season

Drake’s DeVries named to Naismith watch list

State wrestling opens with limited attendance

Iowa’s Wieskamp is B1G Player of the Week

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2021 · Learfield News & Ag, LLC