Iowa approves final grant award for cellulosic project

RenewableEnergyWorld.com
January 26, 2010
Board approves final $5.25 million to POET's Project LIBERTY
By POET

SIOUX FALLS, SD --The Iowa Department of Economic Development on Thursday approved an agreement for the final $5.25 million in financial assistance to POET's Project LIBERTY, a commercial-scale cellulosic ethanol plant that will produce ethanol from corn cobs.

"The state has shown vision and leadership in helping our nation continue down this important path to eliminate the need for dirty and imported oil." - Project LIBERTY Director Jim Sturdevant The final approval brings Iowa’s total contribution to the project to $20 million. The initial $14.75 million, from the Iowa Power Fund, was approved in February 2009. In 2008, POET and the Iowa Department of Economic Development agreed to terms surrounding the project. Approval Thursday finalized those terms.

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