INEOS Bio JV Selected for $50 Million U.S. Department of Energy Grant for Commercial BioEnergy Facility

12-08-2009: The U.S. Department of Energy (DOE) announced it has selected INEOS Bio and its partner, New Planet Energy, for a $50 million dollar grant for its advanced bioenergy facility in Indian River County, Florida. The grant was announced jointly by DOE Secretary Steven Chu and USDA Secretary Tom Vilsack. The facility will be the first to use INEOS Bio’s advanced BioEnergy technology

The INEOS New Planet BioEnergy Joint Venture will own and operate the commercial facility. It will produce eight million gallons of third generation bioethanol per year from renewable biomass including yard, wood and vegetative wastes. The facility will also generate clean renewable power for export to the Florida market. This investment will bring clean tech employment to the Treasure Coast region of Florida, creating approximately 120 construction jobs over the next two years and 40-50 full time jobs.

In commenting on the grant, INEOS Bio CEO Peter Williams highlighted the benefits of the INEOS Bio technology: “This breakthrough technology will substantially reduce net greenhouse gas emissions from cars and energy generation. Not only does it reduce the amount of waste going to landfills, but it also breaks the link between food crops and bioethanol production. The ability to make fuel from agricultural waste and municipal solid waste opens up a whole new avenue to achieving sustainable energy independence.” Added Williams, “We appreciate the continued support of the DOE as we commercialize this world-class technology in the U.S.”