DuPont owes the state of Iowa $10.5 million after closing and selling its cellulosic ethanol plant in Nevada, Iowa, according to the Des Moines Register. In sum, the company will repay all but $3.7 million it received in 2011 in incentives.
Cellulosic ethanol uses by products such as corn cobs, stalks and residue to create the renewable fuel. When DuPont closed the plant it laid off 90 workers, Des Moines Register reports. It will sell the plant to Verbio North America.
The state of Iowa awarded DuPont $17.5 million in state support four years ago, the Register continues. Read more about what the company owes and what Verbio plans for the cellulosic ethanol plant’s future at “DuPont will repay $10.5 million in state incentives, under approved settlement.”