POET gets rezoning approval for 115 Mgy corn ethanol plant in Farmersburg, Indiana

In Indiana, the Vigo County Area Plan Commission approved a rezoning of a 237-acre site for POET Energy’s proposed 115 Mgy corn ethanol plant in Farmersburg. The company will take a projected 18 months to complete construction.

The CEO of POET said recently that the company will increase production capacity to at least 1.5 billion gallons in 2008 through new plant construction. Speaking at the Reuters Global Agriculture and Biofuels Summit, Jeff Broin said that the company expects also to add cellulosic fuel capabilities to most of its 22 existing plants. POET is constructing four new ethanol plants and expanding one other.

In South Dakota, POET’s ethanol plant near Chancellor, will be expanded from 50 to 100 Mgy without expansion of fossil fuel usage. The expansion includes the addition of a solid waste fuel boiler that will produce more than 50 percent of the plant’s power needs.

POET also recently announced that its Emmitsburg, IA cellulosic ethanol plant, jointly funded with the US Department of Energy, will produce 125 Mgy including 25 Mgy from corn fiber and cobs. The plant, which will be operational in 2011, will pay between $30 and $60 per ton of cobs and fiber for the 850 tons per day required by the plant. The cob price equates to a price of $0.63 and $1.26 per bushel, compared to more than $4 per bushel for corn.

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