Oct 26, 2018

POET Begins Construction on Indiana Biofuel Facility

Expected completion date for the $160M facility is spring of 2020

POET says it's moving forward with full construction of a new biofuel facility in Shelbyville, IN, following a directive from President Trump to lift the regulations on E15 fuel.

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,” says POET CEO Jeff Broin. “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 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 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.

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

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Marketwatch: Sep, 25

cmdty National Corn Price Idx: ZCPAUS.CM

open: 5.0983
high: 5.1197
low: 5.0758
close: 5.0977

cmdty National Soybean Price Idx: ZSPAUS.CM

open: 12.3748
high: 12.4458
low: 12.3523
close: 12.4162

cmdty National Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 6.9139
high: 6.9874
low: 6.8939
close: 6.9467

cmdty National Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 6.592
high: 6.6955
low: 6.577
close: 6.6684