SIOUX FALLS, S.D. (Dec. 18, 2014) – POET-DSM Advanced Biofuels today commended Suomen Bioetanoli Oy and the government of Finland for moving forward in developing a cellulosic bioethanol industry in Europe. Finland Wednesday announced a 30 million euros grant to Suomen Bioetanoli Oy to build a plant that will convert wheat straw into about 24 million gallons (90 million liters) of ethanol annually.

“Suomen Bioetanoli Oy is taking a bold step forward in growing Europe’s bioeconomy and expanding our sources for transportation fuel,” said Rob van Leen, Chairman of the POET-DSM Board. “Additionally, the grant award shows Finland’s firm commitment to growing sustainable energy production. Our joint venture partners look forward to working with Suomen Bioetanoli Oy to make commercial cellulosic bioethanol a reality in Finland.”

POET and DSM are in discussions with Suomen Bioetanoli Oy on how to utilize process, yeast and enzyme technology from the respective companies for conversion of cellulose to bioethanol.

For more information about the announcement, see the announcement here (translated via Google Translate).

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 has built 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