POET Plans to Build Indiana Ethanol Plant in Response to E15 Move
Source: By Todd Neeley, DTN/Progressive Farmer • Posted: Monday, October 29, 2018
President Donald Trump’s directive to the EPA to approve year-round E15 sales led to the company’s decision, according to a news release from the company.
“This is the right project in the right location at the right time,” POET Chief Executive Officer Jeff Broin said in a statement.
“Farmers desperately need the income boost from this new market for grain, and President Trump’s recent announcement of year-round E15 sales has the biofuels industry poised for new growth and prosperity. Shelbyville is leading the way for future production to meet new E15 demand. We’re excited to partner yet again with Indiana to create a cleaner, healthier environment for our children and grandchildren.”
POET received final permit approval this week for the planned $160 million plant. Construction is slated to begin in the spring of 2020, according to the news release.
POET is the nation’s top producer at about 2 billion gallons per year of production capacity.
Brian Asher, executive director of the Shelby County Development Corp. said the plant is an important economic development tool for his county.
“POET’s project provides jobs right here in Shelby county, but its indirect effects will extend well beyond that,” he said. “This boosts income for farmers, expands the tax base and circulates new dollars across the entire economy.”
POET said in its news release that the new plant will feature “state-of-the-art” environmental controls and production processes such as the proprietary Total Water Recovery that eliminates process water discharge from the plant. In addition, the new plant will feature and POET’s patented BPX process, which lowers energy use and increases yield.
The Shelbyville project is expected to create an additional corn demand of about 28 million bushels annually and at least $2 million in annual payroll.
POET’s other Indiana ethanol plants are located in Alexandria, Cloverdale, North Manchester and Portland.