POET SUBMITS COMMENTS TO EPA REGARDING RENEWABLE FUEL STANDARD WAIVER
REQUESTS COULD 'DESTROY' EFFORTS TO COMMERCIALIZE CELLULOSIC ETHANOL
Friday, October 12, 2012 - Corporate News & Announcements
SIOUX FALLS, SD (Oct. 12, 2012) – POET last night submitted comments to the U.S. Environmental Protection Agency regarding the requests to temporarily waive the Renewable Fuel Standard (RFS).
POET’s comments addressed three key issues in the debate.
1. The RFS has built-in provisions for temporary supply disruptions such as this year’s drought.
“That program was designed specifically to provide for flexibility in the mandate in years like this and to allow the market to dictate lower ethanol levels without the need to grant a waiver. The evidence shows that the marketable credit trading program will alleviate the impacts of the drought conditions this year, and POET urges EPA to let Congress’s program— and the market—work as designed.”
2. Ethanol’s use of corn is over-stated.
“The ethanol industry uses corn to make two primary products: ethanol and distillers’ grains animal feed. Once this important co-product is taken into account, only 17.5% of corn acres are used to produce ethanol.”
3. A waiver would have a serious impact on efforts to commercialize cellulosic ethanol.
“Granting a waiver of the RFS will send the wrong signal to the investment community and could make it impossible for companies such as POET to attract the capital needed in order to commercialize cellulosic ethanol.”
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 through its joint venture with DSM. For more information, visit http://www.poet.com.
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