Iowa Power Fund approves ethanol project - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa Power Fund approves ethanol project

DES MOINES (AP) -- The Iowa Power Fund Board has given final approval to a $14.75 million award for a company developing a commercial-sized cellulosic ethanol plant that can use corn byproducts to produce fuel.

The POET Project Liberty was approved Thursday during a conference call.

According to a news release from Iowa Office of Energy Independence, POET, with help from other funding sources, is putting about $216 million into the project.

Officials say the plant will be added to an existing ethanol plant in Emmetsburg in northwest Iowa. It will be capable of producing 25 million gallons of cellulosic ethanol each year from corn fiber and corn cobs.

The release says state energy officials will get quarterly reports from the company on its activities.

Online Producer: Mike Verlo

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