ARLINGTON, VA (December 5, 2013) – Today, Gary Eischeid, General Manager at POET Biorefining – Gowrie, will testify at a public Environmental Protection Agency (EPA) hearing in defense of renewable biofuels and the Renewable Fuel Standard. This hearing was announced in response to the EPA’s proposed lower Renewable Volume Obligation (RVO) numbers for 2014.

“If the Administration moves forward with this proposal, communities and consumers across the state of Iowa, and the country, will feel its effects,” said Eischeid, who will testify on behalf of the Iowa Ethanol Producers Association. “The Renewable Fuel Standard has had a positive impact in offering drivers cheaper choices at the pump. Any proposal to reel back this progress would stifle current multi-billion dollar investments in next generation biofuels, including many investments right here in the state of Iowa.”

The ethanol industry in Iowa has added $12.9 billion of income to the pockets of Iowans over the past decade and has generated $1.8 billion of tax revenue for Iowa over this same time period. Iowa currently has 42 ethanol plants that produce 3.7 billion gallons of ethanol annually.

During his testimony, Mr. Eischeid will state: “Iowa knows what biofuels and clean energy is already doing for our nation, and we have supported those who have recognized its promise. But we cannot stand by and support this proposed rule or anyone who seeks to finalize it. Every American will feel the pain at the pump. Ethanol today displaces 10 percent of petroleum and independent analysis suggests this saves consumers anywhere from $.50 to $1.50 at the pump.”

For a full transcript of Mr. Eischeid’s comments, please visit poet.com/testimony.

About POET

POET, one of the world’s largest ethanol producers, is a leader in biorefining through its efficient, vertically integrated approach to production. The 25-year-old company has a production capacity in excess of 1.6 billion gallons of ethanol and 9 billion pounds of high-protein animal feed annually from its network of 27 production facilities. POET also operates a pilot-scale cellulosic bio-ethanol plant, which uses corn cobs, leaves, husk and some stalk as feedstock, and expects to commercialize the process in Emmetsburg, Iowa through its joint venture with DSM. For more information, visit http://www.poet.com.