POET reopens Indiana bioprocessing facilityPOET reopens Indiana bioprocessing facility
Upgraded plant will create jobs, 34 million bushels of new corn demand.
September 1, 2023
POET, the world’s largest producer of biofuels, has reopened its bioprocessing facility in Cloverdale, Indiana.
The company celebrated the occasion with an event at the facility on Aug. 31 that included area farmers, community members, and state officials. The program featured remarks from Gov. Eric Holcomb, Lt. Gov. Suzanne Crouch, and U.S. Rep. Jim Baird, as well as POET executive leadership.
“As a global leader in the research, development, and production of low-carbon biofuels and bioproducts, POET is proud to work with more than 40,000 American farmers as we harness the power of agriculture to create a more sustainable world,” said Jeff Broin, POET founder and CEO. “The addition of our 34th bioprocessing facility displays our commitment to growing the bioeconomy, and it is with immense pride in our team and gratitude to the surrounding community and the state of Indiana that we reopen POET Bioprocessing – Cloverdale.”
POET has invested $30 million in new technology and upgrades to bring the facility up to the company’s optimal standards and increase its annual production rate from 80 million to 95 million gallons of bioethanol. POET – Cloverdale will also create 50 full-time local jobs and generate demand for 34 million bushels of Indiana corn annually.
“Today’s grand opening of POET Bioprocessing – Cloverdale is another testament to the tremendous relationship between the private sector and the state of Indiana’s attractive environment to operate in,” Gov. Holcomb said. “Agriculture has always been in our Hoosier DNA, and today as a partner with POET, we’re both reinforcing our commitment to local jobs, rural economies and prosperous farming communities. It’s another proud day in Indiana as we continue to lead 21st Century agriculture.”
POET Bioprocessing – Cloverdale was acquired by POET in 2010 but was idled in 2019 due to issues surrounding the implementation of the Renewable Fuel Standard (RFS). Since then, better federal management of the RFS and strong support for E15 (a 15% bioethanol blend) at the state level from key Indiana policymakers, including Gov. Holcomb, Lt. Gov. Crouch, and Rep. Baird, have played a significant role in POET’s decision to reopen Cloverdale, its fifth facility in the state.
“At POET, we believe the future of biotechnology lies at the intersection of innovative science, practical engineering, and responsible agriculture,” said POET President and Chief Operating Officer Jeff Lautt. “This facility will continue POET’s legacy of creating value for rural America, and we look forward to continuing our collaboration with the state of Indiana for many years to come.”
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