After E15 Regulations Lifted, POET Commences Construction of $160M Plant
POET is commencing with the construction of a $160 million ethanol plant in Indiana after the Trump administration lifted regulations on E15 fuel.
Now that E15 will be available to consumers on a year-round basis, it is estimated that nationwide demand for the fuel will climb by 7 billion gallons, translating into an increase in demand of an additional 2 billion bushels of corn from farmers per year.
The new facility, which is scheduled to be completed in 2020, will have the capacity to produce 80 million gallons per year. It will account for $110 million in annual corn purchases from a 30-mile radius, and will generate 45 full-time jobs.
This facility, which will be called POET Biorefining-Shelbyville, will be the 28th starch biofuel plant for POET, and will be the company’s fifth in the state. It will include state-of-the-art environmental controls and production processes that will eliminate water discharge, lower energy usage, and increase efficiency and yield.