POET Teams with Royal DSM on Cellulosic Ethanol Joint Venture
On January 23, 2012, POET, one of the world's largest ethanol producers, and Royal DSM, a global life sciences and materials sciences company, announced a joint venture to commercially demonstrate and license cellulosic bio-ethanol based on their proprietary and complementary technologies. Wilson Sonsini Goodrich & Rosati advised POET in connection with the transaction.
POET-DSM Advanced Biofuels is scheduled to start production in the second half of 2013 at one of the first commercial-scale cellulosic ethanol plants in the United States. The two partners will produce cellulosic ethanol from corn crop residue through a biological process using enzymatic hydrolysis followed by fermentation. POET-DSM Advanced Biofuels intends to replicate and license the technology to additional plants to be built at the other corn ethanol facilities in POET's network and license it to other producers in the United States and the rest of the world.
For more information on the transaction, please see the joint press release issued by POET and Royal DSM.