GOV. CULVER: TODAY IOWA BEGINS TAKING LEAD IN RENEWABLE ENERGY RACE

 Gov. Chet Culver, D-Iowa, has issued the following news release:

Gov. Chet Culver today outlined one of his signature proposals - the Iowa Power Fund. At stops in Cedar Rapids and Ankeny, the Governor presented his vision for the future of renewable energy in Iowa, and laid out specific proposals to keep Iowa ahead in the race to become the renewable energy capital of the world.

"Today, Iowa begins taking the lead in the race to become the energy capital of the world," said Governor Culver. "Our $100 million Iowa Power Fund will allow Iowa to invest in and attract cutting edge research and development."

"It will allow our state to be involved in commercialization of emerging technologies. It will allow existing companies to expand and grow to meet the needs of emerging markets. It will help us create the jobs of the future that will keep your kids and my kids here in Iowa where they belong. This effort is at the heart of the 21st Century Iowa Expedition I have called on all Iowans to join."

The Iowa Power Fund is a proposal that has been one of the hallmarks of the Culver/Judge Administration since the gubernatorial campaign last year.

In his address, the Governor laid out the following specifics:

* Creating of a new office focused on renewable energy and energy efficiency

A new office will be created to promote the research and development of new sources of renewable energy and encourage Iowans to be more energy efficient.

* The authorities of the new office

The office will be headed by a director that will coordinate the work of state government as it relates to renewable energy and energy efficiency. The director will have the flexibility and authority to work across all state agencies to position Iowa on the forefront of the bio-economy.

*The purpose of the Iowa Power Fund

A $100 million dollar investment to create the next generation bio-economy and ensure that Iowa stays in the lead for the race to become the renewable energy capital of the world.

* The composition of the Iowa Power Fund Board

The Iowa Power Fund Board will be made up of experienced, knowledgeable and capable stakeholders and citizens with expertise in renewable energy, energy efficiency, and financing. They will have the authority to make decisions about the most appropriate uses of the fund. The board will be appointed by the Governor, confirmed by the Senate and subject to open meetings and open records law.

Examples of how the Iowa Power Fund could be used.

One of the examples cited by the Governor of what the Power Fund could support is development closed loop methane technology. By placing a bio-refinery next to a livestock operation, the refinery would use a by-product of its work to feed the animals. With the use of an methane- digester, the livestock operation would be able to turn manure into power to run the refinery, making a closed loop that produces less waste and cleaner environment.

The Governor's first stop today took him to Clipper Windpower in Cedar Rapids, a company that constructs many of the wind turbines that can be seen across the state. Based in California, Clipper opened their Cedar Rapids facility in 2006 to be closer to the growing wind power industry in Iowa.

Later in the day, Culver traveled to Ankeny, where he presented his proposals to a classroom of students at the Energy Resource Station. A division of the Iowa Energy Center, the Ankeny Facility is dedicated to supporting projects that help Iowans understand how they can make their homes more comfortable and affordable, while investing in initiatives that help Iowa industries and businesses run efficiently so they can be more productive and profitable.