Source: POET, LLC
PRES. TRUMP’S COMMITMENT TO YEAR-ROUND E15 PROVIDES MARKET FOR INDUSTRY GROWTH
Friday, October 26, 2018
SHELBYVILLE, IN (Oct. 26, 2018) – Following a strong directive from Pres. Trump to lift the outdated regulations stifling E15 fuel, POET is moving forward with full construction of a new biofuel facility in Shelbyville, Indiana.
Final permit approval came this week for the planned 80 million-gallon-per-year facility. With full construction started, the expected completion date for the nearly $160 million facility is spring of 2020.
“This is the right project in the right location at the right time,” POET CEO Jeff Broin said. “Farmers desperately need the income boost from this new market for grain, and Pres. 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 Biorefining – Shelbyville will be the 28th starch biofuel plant in POET’s network, and the fifth in Indiana. It will add 45 full time jobs and $110 million in annual corn purchases for farmers in the area, primarily within a 30-mile radius. POET plans to start hiring for full-time positions in spring 2019.
New demand for biofuels is expected in coming years once the Trump Administration provides full consumer access to E15 year-round. President Trump announced earlier this month that he has directed the EPA to fix outdated regulations that limit E15 availability.
E15 is a higher octane, cleaner burning and lower cost blend of 15% biofuel. Full implementation of E15 nationwide would add 7 billion gallons of biofuels demand and an additional 2 billion bushels of corn demand for farmers who have been struggling with low crop prices and declining farm income over the last five years. This additional demand is important for communities that rely on agriculture to drive their economies.
“POET’s project provides jobs right here in Shelby county, but its indirect effects will extend well beyond that,” said Brian Asher, Shelby County Development Corporation Executive Director. “This boosts income for farmers, expands the tax base and circulates new dollars across the entire economy.”
The new facility includes POET’s state-of-the-art environmental controls and production processes. Those include features such as the proprietary Total Water Recovery, which eliminates process water discharge from the plant, and POET’s patented BPX process, which lowers energy use and increases yield, making this state-of-the-art plant even more efficient.
POET’s Shelbyville project at a glance
– 80 million gallons of clean biofuel per year
– 28 million bushels annual corn demand
– Nearly 3 million in added value for local ag products
– Nearly $160 million capital investment
– $2 million+ in annual payroll
– 45 new full time jobs
– More than 275 temporary jobs during construction
POET, the world’s largest biofuels producer, is a leader in biorefining through its efficient, vertically integrated approach to production. The 30-year-old company has a network of 27 production facilities. POET, through its joint venture with DSM, also operates a commercial-scale cellulosic ethanol plant in Emmetsburg, Iowa. For more information, visit http://www.poet.com.