NEW YORK (December 12, 2014) – POET-DSM Advanced Biofuels was honored Thursday afternoon as a Deal of the Year finalist by the Platts Global Energy Awards.
The Deal of the Year award recognizes significant collaborations, mergers or other activity that impact the world and “aims to reflect the changing energy landscape conceived by these global transactions.” POET-DSM was recognized as a finalist for the award during the annual Platts Global Energy Outlook Forum luncheon in New York.
The joint venture between Sioux Falls, SD-based POET and the Netherlands-based DSM held a Grand Opening in September to announce startup of its first commercial-scale cellulosic ethanol plant in Emmetsburg, Iowa, which uses corn cobs, leaves, husk and some stalk to produce renewable fuel. The joint venture is actively working to market its LIBERTY process and technology package to site more plants across the U.S. and the world.
“Both POET and DSM believe strongly that our world needs to transition to a bio-economy, and the joint venture seeks to leverage each company’s expertise towards that end,” said Steve Hartig, General Manager – Licensing for POET-DSM. “I’d like to congratulate Williams on being named deal of the year. For POET-DSM, just being considered for this award was an incredible honor. Cellulosic ethanol is opening up new opportunities for renewable fuel production all over the world, and we’re proud to be counted as a leader in that arena.”
About POET-DSM Advanced Biofuels, LLC
POET-DSM Advanced Biofuels, LLC, is a 50/50 joint venture between Royal DSM and POET, LLC. Based in Sioux Falls, South Dakota, the company is a cooperative effort of two innovators that provides a key to unlocking the opportunity of converting corn crop residue into cellulosic bio-ethanol. Built on the strengths of both companies, the joint venture has a critical mission: to make cellulosic bio-ethanol competitive with corn bio-ethanol, the most competitive renewable liquid transportation fuel on the US market today. Drawing on the deep expertise and experience of POET and DSM in different areas of converting cellulosic biomass into bio-ethanol, POET - DSM Advanced Biofuels will have its first commercial-scale plant co-located with POET' Biorefining -- Emmetsburg in Emmetsburg, Iowa. Based on this plant, the JV plans to globally license an integrated technology package for the conversion of corn crop residue to cellulosic bio-ethanol. More information: www.poetdsm.com