Project LIBERTY aims to integrate cellulosic ethanol production with existing corn-based ethanol production. It will build the first commercial-scale cellulosic ethanol biorefinery using corn cobs as a feedstock. The project expects to produce 25 million gallons of ethanol annually from corn cobs and fiber, increasing total ethanol production from corn. It received an $80 million grant from the Department of Energy to design, construct, and operate the biorefinery.

1. POET Project LIBERTY Overview

2. Project LIBERTY Integrate cellulosic ethanol technologies with corn-based ethanol technologies Build and operate one of the first commercial-scale cellulosic ethanol biorefineries in the world

3. POET Biorefining - Emmetsburg

4. 125 million gallons of ethanol 25 million gallons from corn cobs & fiber 11% more ethanol from a bushel of corn 27% more ethanol from an acre of corn Project LIBERTY Will Deliver

5. Key Project Deliverables A sustainable cob collection, storage, and delivery system Reduced fossil fuel and water usage Viable and replicable model for multiple biorefineries

6. Project LIBERTY Ethanol Corn Grain Corn Germ Endosperm CO2 Ferment Distill Centrifuge & Dry Pre-treat Hydrolysis & Fermentation Distill Steam to Process Fiber Cellulosic Ethanol Biomass Boiler Separator Solid Fuel Anaerobic Digester Liquids Boiler Biogas DDG Dryers Electric Generator DGHP Corn Cobs

7. $80 million DOE grant to POET to design, construct, build and operate LIBERTY Federal/POET Partnership

8. LIBERTY Timeline

9. Why Cobs ?

10. Location of the Biomass

11. Why Cobs? Abundant supply Low level of soil nutrients More carbohydrate More than 2X the density of corn stover Collectible and sustainable Greater ethanol yield U.S. corn cobs represent over 5 billion gallons of ethanol

12. Why Not Other Feedstocks? Other feedstocks would likely require: New growers, new crops Land use changes New biorefineries Significantly different equipment, transportation, and logistics methods Corn cobs are the first logical step toward cellulosic ethanol

13. Project Status Design and engineering phase is underway DOE issued a Finding of No Significant Environmental Impact Finalized agreements for the DOE $80 million grant in September, 2008

14. Cobs in Emmetsburg, Iowa

15. Project LIBERTY Benefits Minimizes global warming Supports goal of 36 billion gallons of renewable fuels by 2022 Builds upon the corn-to-ethanol foundation of the industry Creates opportunities in rural America Reduces nation’s dependency on foreign oil

16. Project LIBERTY Website www.projectliberty.com

17. Cob Harvest Methods LIBERTY Field Day November 6, 2008 Emmetsburg, Iowa

18. Cobs: From Field to Biorefinery F a r m e r R e s p o n s i b i l i t y P O E T R e s p o n s i b i l i t y Collection In-Field Transport In-Field Storage Pile Pick-Up Transportation Receiving

19. Project LIBERTY Field Day Three collection options were showcased: Corn / Cob Mix (CCM) Whole Cob – Towable ISU/Deere Harvester

20. Photo of Corn Corn / Cob Mix (CCM) CCM in Tank CCM Separation COMBINE Corn Cobs

21. CCM Systems at the Event

22. Wildcat Screener

23. Whole Cob – Towables Separation Done Here TOWABLE COMBINE Corn Cobs

24. Towable Systems at the Event

25. ISU/John Deere Harvester

26. Cobs: From Field to Biorefinery F a r m e r R e s p o n s i b i l i t y P O E T R e s p o n s i b i l i t y Collection In-Field Transport In-Field Storage Pile Pick-Up Transportation Receiving

27. CCM in Transit to Separator

28. In-Field Whole Cob Transport

29. Cobs: From Field to Biorefinery F a r m e r R e s p o n s i b i l i t y P O E T R e s p o n s i b i l i t y Collection In-Field Transport In-Field Storage Pile Pick-Up Transportation Receiving

30. In-Field Storage

31. Cobs: From Field to Biorefinery F a r m e r R e s p o n s i b i l i t y P O E T R e s p o n s i b i l i t y Collection In-Field Transport In-Field Storage Pile Pick-Up Transportation Receiving