DSM and Poet Form Cellulosic Ethanol Venture (update)

DSM and ethanol producer Poet (Sioux Falls, SD) have formed a 50-50 joint venture to produce cellulosic ethanol and license related technology. Poet-DSM Advanced Biofuels (Sioux Falls, SD) is scheduled to start production in second-half 2013. The first commercial demonstration of the technology will be at a plant currently being built adjacent to Poet’s existing corn ethanol plant in Emmetsburg, IA. The initial capital expenditure for the project will be about $250 million. The jv expects to generate sales from the first plant of $80-100 million/year...

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