POET CEO applauds decision to deny RFS waiver
Industry can continue to invest in improving efficiency, commercializing cellulosic biofuels
SIOUX FALLS, SD Nov. 16, 2012; POET CEO Jeff Lautt today issued the following statement regarding the EPA's decision on the Renewable Fuel Standard waiver:
"The EPA today made a sound decision in denying a waiver of the Renewable Fuel Standard. As studies have shown, a waiver would have likely had little to no impact on commodities prices in the aftermath of the recent drought. This effort was nothing more than the latest attempt by renewable fuel opponents to undermine policy that has helped make America stronger.
"Today's decision means the Renewable Fuel Standard remains strong and stable policy, and our industry can move forward with greater confidence, continuing to invest in new technology to make biofuels production even more efficient and commercializing fuel production from cellulosic feedstocks such as crop residue and other plant material.
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.