Tag: POET

POET secured 100% tax abatement for a decade as part of Indiana deal

POET secured 100% tax abatement for a decade as part of Indiana deal

May 21, 2019 |

In Indiana, local press reports that POET has scored a 100% tax abatement for its planned Shelbyville plant for ten years and then will pay just $2.5 million a year after that as part of the agreement that sealed the deal for citing the facility in the town rather than another location in Ohio that […]

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POET launches ad campaign to draw attention to the ongoing farm crisis

POET launches ad campaign to draw attention to the ongoing farm crisis

May 9, 2019 |

In South Dakota, AgWired reports that POET is investing in a new advertising campaign that it hopes will help bring the effects of the ongoing farm crisis resulting from the trade war between the US and China straight to policymakers. It says that Commerce Department data shows farm income fell by around a quarter between […]

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Arbitrators award POET $7.5 million in dispute against Andritz over pre-treatment design

Arbitrators award POET $7.5 million in dispute against Andritz over pre-treatment design

April 4, 2019 |

In South Dakota, the Argus Leader newspaper reports that an arbitration panel has unanimously agreed that Andritz should pay POET $7.5 million for failing to design a pre-treatment system for its Project Liberty facility in Emmetsburg, Iowa that would economically prepare feedstock such as corn cobs for feedstock in cellulosic ethanol production at scale. POET […]

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POET signs on for another decade of landfill gas for Chandler plant

POET signs on for another decade of landfill gas for Chandler plant

February 26, 2019 |

In South Dakota, POET has signed on for another 10 years of using methane extracted from the Sioux Falls landfill for use at its Chandler ethanol plant. During the past decade, by using 5.7 million BBTUs worth of methane from the landfill instead of natural gas, the company has saved 200,000 metric tons of CO2 […]

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POET launches corn-oil-based asphalt alternative

POET launches corn-oil-based asphalt alternative

January 30, 2019 |

In South Dakota, POET has entered the asphalt market with its newest green alternative to fossil-fuel products. POET’s “JIVE” is a proprietary corn-oil-based product now being used by construction companies across the US to modify or rejuvenate asphalt in roads. “This is the latest example of POET developing new technology to move our world toward […]

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POET wants CME to change ethanol swap contract after ADM allegedly pushes down prices

POET wants CME to change ethanol swap contract after ADM allegedly pushes down prices

December 18, 2018 |

In Washington, Reuters reports that POET is leading the charge to get the Chicago Mercantile Exchange to adjust its ethanol swap contract that is based on the Platts price, saying that ADM is using the benchmark contract to push down prices and squeeze other players out of the market. Some allege that the Platts price, […]

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POET Groton investors looking at potential merger with parent company

POET Groton investors looking at potential merger with parent company

November 14, 2018 |

In South Dakota, investors of the POET ethanol plant in Groton are discussing whether to merge with the parent company in an effort to take advantage of economy of scale and the synergies that come with it, including additional access to capital to finance expansions. There are seven POET plants that have yet to merge […]

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POET begins construction on new biofuel facility

POET begins construction on new biofuel facility

October 28, 2018 |

In Indiana, POET is moving forward with full construction of a new biofuel facility in Shelbyville, Indiana. 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 […]

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POET opens its Marion biorefinery expansion boosting production by 80 million gallons

POET opens its Marion biorefinery expansion boosting production by 80 million gallons

September 19, 2018 |

In Ohio, POET Biorefining – Marion opened an 80-million gallon expansion Wednesday at a celebration that included area farmers, community members and state officials. With this expansion in place, POET Biorefining Marion now has an annual capacity of 150 million gallons of clean-burning biofuel and 360,000 tons of high-protein animal feed per year. New production […]

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Community concerns about Indiana POET biorefinery seems to be easing

Community concerns about Indiana POET biorefinery seems to be easing

August 16, 2018 |

In Indiana, the turn out for the public hearing regarding the air quality permit for the proposed POET biorefinery in Shelbyville was just a tenth of those who opposed the facility at the recently planning meeting, perhaps indicating that community opposition to the project is shrinking. The public comment period for the air quality permit […]

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