Feds offer $105M loan guarantee for "Project Liberty" biofuel plant

Poet's so-called "Project Liberty" biofuel plant, which will use corn waste instead of edible corn, is getting some support from the U.S. government. On Thursday, the Department of Energy announced it will offer Poet a $105 million loan guarantee to build out Project Liberty in Iowa, which is supposed to eventually produce up to 25 million gallons of cellulosic ethanol per year. Through loan guarantees, the government promises to pay back loans if borrowers can't. In many cases, the government is providing the loans as well, via the Federal Financing Bank. The financial support could help Poet finally get Project Liberty into commercial-scale production, and the plant has been in the planning stages for years now. Poet initially was hoping to start building the plant in 2009 and operating it in 2011, and back in 2008, the company was aiming for the plant to eventually produce 125 million gallons of biofuel per year.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

U.S. BATTERY RENEWABLE ENERGY SERIES DEEP CYCLE BATTERIES

U.S. BATTERY RENEWABLE ENERGY SERIES DEEP CYCLE BATTERIES

Our RE Series batteries are designed to provide the highest peak capacity, longest cycle life, and greatest reliability for use in industrial or residential renewable energy applications. Renewable Energy Series batteries utilize the company's exclusive XC2™ formulation and Diamond Plate Technology® to create the industry's most efficient battery plates, delivering greater watt-hours per liter and watt-hours per kilogram than any other flooded lead-acid battery in the market. Our Deep Cycle batteries are engineered to work with solar panels as well as other renewable energy applications.