Poet to develop new 80 MMgy ethanol plant in Indiana

By Erin Voegele | July 24, 2018

On July 23, Poet LLC received an approval from the Shelbyville, Indiana, planning commission that will allow it to proceed with the development of an 80 MMgy ethanol plant at a site approximately 5 miles northwest of the city.

“Poet is thankful for the community leaders who worked to move this state-of-the-art biofuels facility forward,” said Buck Yerdon, Poet Commercial Development. “This project is a big economic win not only Shelbyville but the entire area. It creates new jobs, injects $200 million dollars into the local economy each year and allows local farmers and residents to take part in the national effort to grow our use of clean biofuels.

“Our 28 biofuel facilities are all active members of their local business communities,” Yerdon continued. “We strive to be good neighbors and help our communities grow and thrive. We know we could do that here as well, and we’re excited to be able to take the next step towards making Poet Biorefining – Shelbyville a reality. Poet will make future announcement related to this project as developments warrant.”

Information released by Poet indicates that the proposed 80 MMgy facility will take in approximately 28 million bushels of corn annually. The project represents an expected $150-160 million capital investment. The plant will create nearly $3 million in added value for local crops, contribute $2 million to the local community in annual payroll and have a total $200 annual economic impact in its local area.