Image by Rastoney via Flickr
The Iowa Power Fund Board (Board) awarded a $9 million grant to the DuPont-Danisco Cellulosic Ethanol LLC (DDCE) companies recently to build a commercial-scale demonstration biorefinery facility to produce cellulosic ethanol and create jobs in the Iowa counties of Story or Webster. Final site location is expected to be announced by early summer.
This grant is expected to result in the creation of at least 60 full-time jobs for Iowans by the project completion date, which is slated for the end of March 2014. The company must also retain 60 FTE jobs at the project facility for a period of six years from the project completion date.
In addition to this $9 million grant, DDCE will match over $226 million in cash to bring the total project cost to over $235 million. DDCE's demonstration biorefinery facility will be capable of producing 25 million gallons per year of cellulosic ethanol in Iowa and will initially utilize corn stover as a feedstock in the production.
The Iowa Power Fund has contributed to economic development for Iowans in all three of its intended areas: creating new jobs; drawing the attention of renewable energy companies and the private investments they bring; and the growth of an industry that has made Iowa a leader in cutting-edge, value-added agriculture. Investment of more than $59.7 million directly supports 40 competitive projects, leveraging more than $546 million in energy research and development, early stage commercialization and education. To review the Iowa Power Fund economic impact study, please visit: www.energy.iowa.gov.
