Press Release Archive

Friday, June 20, 2008

Power Fund Board Approves Two Contracts For Funding

GOVERNOR CULVER COMMENDS POWERFUND BOARD FOR DELIVERING RESULTS IN FIELD OF RENEWABLE ENERGY

(Des Moines)  The Iowa Power Fund Board recently approved two contracts, each to an Iowa university. Office of Energy Independence Director Roya Stanley said, “I’m pleased that the first monetary awards from the Power Fund go to the University of Northern Iowa for their biomass sustainability study and to Iowa State University for their 2008 Biobased Industry Outlook Conference. These are the first awards of many that will move the state of Iowa forward in its quest for energy independence.”

Governor Culver said, “The Power Fund Board has looked at hundreds of applications. The Power Fund Board and the Due Diligence Board have had an enormous task of sorting through the applications and identifying viable projects in which to invest Power Fund dollars. These are two great projects that allow Iowa to lead the nation in developing new sources of renewable energy.”

The projects and a brief description:

Project Title    Applicant City Amount Granted
1.) Determining Maximum Sustainable Production of Biomass with Mixture of Prairie Species University of Northern Iowa Cedar Falls, Iowa $612,300
2.) 2008 Biobased Industry Outlook Conference

Iowa State University

 Ames, Iowa $12,500

1.) The Tallgrass Prairie Center at the University of Northern Iowa will research how to use prairies for wildlife cover and energy production. They will determine the maximum sustainable production of biomass with mixtures of prairie species. Their research will show the optimal mixture of prairie vegetation for biomass production on non-prime agricultural land for electrical generation. It will also determine the most effective management plans for sustainable use of prairie vegetation for biomass production while maintaining wildlife habitat and other benefits.

2.) The 2008 Growing the Bioeconomy Conference is the 6th annual conference held at Iowa State University that focuses on the latest advances in biofeedstock production: bioprocessing; utilization of biobased products; human, social and community dimensions of the bioeconomy; and the interface between the bioeconomy and climate change. The 2008 conference will focus on technologies and strategies that will allow the Midwest to achieve the goals indentified by the Midwest Governors Coalition (MGC), North Central Bioeconomy Consortium (NCBC), the North Central Sun Grant (NCSG), and USDA REE.

THE IOWA POWER FUND:

  • Establishes the Office of Energy Independence.
  • The Director of the Office of Energy Independence is appointed by the Governor.  This person will, among other things: 1) Coordinate administration of the Fund; 2) Coordinate existing state and Federal energy policy programs; 3) Pursue new research investment funds from public and private sources; 4) Establish renewable energy performance measures; 5) Develop an Iowa Energy Independence plan.
  • WHO CAN APPLY?  Anyone working to research, develop, commercialize and implement new ways to wean ourselves off foreign oil through: 1) New types of renewable energy; 2) Emerging biofuels such as cellulosic ethanol; 3) Energy efficiency.
  • POWER FUND DUE DILIGENCE COMMITTEE will consist of 7 members.  These individuals will review recommendations that come before the Power Fund Board:

    Office of Energy Independence appointee with business expertise;

    Regents representative;

    DED representative;

    Iowa Energy Center representative;

    DED biotechnology commercialization representative;

    2 members of the Power Fund Board.

  • POWER FUND BOARD will be made up of 11 members:

    IUB Chair or designee;

    DED Director or designee;

    DNR Director or designee;

    Secretary of Agriculture or designee;

    7 appointees by the Governor (3-year terms; must be confirmed by Senate);

In addition, there are 7 ex-officio members representing legislature, Regents, IA Association of Community College Presidents, and IA Association of Independent Colleges and Universities.