Yes, but I think 16% ethanol kills normal yeast, so yield will only be 16%, hence distillation,
I think they have just created or found a new yeast that is more efficient, not fully sure on that, it was most likely posted here as a link to what is probably a paper on this < a week ago.
I got to go out so will look in my saved book marks when I get back unless someone else finds in the meantime.