Reopening of POET’s Cloverdale Facility Reflects Growth of Ethanol Industry

POET’s bioprocessing facility in Cloverdale, Indiana, has experienced success since its reopening in September. The $30 million investment has revitalized the facility, creating a market for approximately 34 million bushels of corn, generating 50 full-time jobs, and producing over 100 million gallons of bioethanol. The facility, acquired by POET in 2010, was idled in 2019 due to regulatory challenges. However, improved management of the Renewable Fuel Standard (RFS) paved the way for its reopening. POET’s commitment aligns with the support from Indiana lawmakers for E15, a 15% bioethanol blend, aiming to enhance markets for grain and promote the bioethanol industry’s growth. The collaboration between POET and Indiana’s corn producers is vital, contributing to the industry’s success and demonstrating the interconnected relationship between farmers and bioethanol producers. The industry remains poised for continued expansion with bioethanol’s multiple benefits, including reducing fuel prices, supporting farmers, and enhancing environmental sustainability.

‘”Our company alone buys seven percent of the U.S. corn crop. We purchase a billion bushels for our 34 facilities in eight states,” according to [Doug Berven, Vice President of Corporate Affairs for POET] Berven. “But it’s not us providing the market for the farmers; it’s the farmers providing a product for us, so we work in tandem and we’re connected at the hip.” “Farmers and bioethanol producers can’t do it without the other, so we are we’re really excited about the partnership that we have with the farmers out there and we’re really excited about the potential of agriculture going forward,” says Berven. He adds that with all the advantages that bioethanol brings, it makes the industry even more attractive and primed for continued growth.’

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