One of the world’s largest biofuel producers Poet has announced that it has begun construction on a new biofuel plant in Shelbyville, Indiana.
Poet is going ahead with its plans to add another biofuel plant to its already established network of 28. The construction has started after President Donald Trump lifted ‘outdated’ regulations that were limiting the selling of E15 fuel.
The $160 million and 80 million-gallon-per-year facility has had its final permit approved this week and is expected to be completed in the spring of 2020.
Poet’s CEO Jeff Broin said “This is the right project in the right location at the right time. 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 with Indiana to create a cleaner, healthier environment for our children and grandchildren.” Broin continued.
The opening of the plant will provide 45 full time jobs as well as $110 million in annual corn purchases for local farmers.
Shelby County Development Corporation Executive Director Brain Asher states “Poet’s project provides jobs right here in Shelby county, but its indirect effects will extend well beyond that. This boosts income for farmers, expands the tax base and circulates new dollars across the entire economy.”