Coverdale facility, which was idled in 2019, will restart operations in 2023
POETwill be reopening itsbioprocessing facility in Cloverdale, IN, after federal and state policymakers took action to safeguard domestic markets for low-carbon biofuels.
The Cloverdale facility wasidled in October 2019.
该设施将于2023年开始运营,将创造50个全职当地就业机会,并每年从印第安纳州农民那里产生3400万蒲式耳的玉米。
生物处理设施将获得升级
Restarting the Cloverdale facility will bring POET’s network to a total of 34 bioprocessing plants across eight Midwest states, five of which are located in Indiana.
“The plant will undergo significant upgrades to include the same industry-leading advantages operating at other POET plants, and we are confident it will be a strong asset to the POET portfolio," said Jeff Broin, POET Founder and CEO.
POET is planning to invest $30 million in new technology to create operational efficiencies that will position the facility for long-term success and increase its annual production rate from 80 million to 95 million gallons of bioethanol.
“Agriculture is at the backbone of Indiana’s economy,” said Congressman Jim Baird (IN-04). “Bioprocessing, ethanol, and other biofuel facilities play an integral role in supporting rural jobs and strengthening local economies across Indiana and the Midwest."
Strides made to support biofuels
According to the company, POET Bioprocessing – Cloverdale was initially idled in 2019 due in part to the U.S. Environmental Protection Agency’s mismanagement of small refinery exemptions (SREs).
POET said this created an artificial cap on domestic demand for bioethanol and drove RIN values to near-zero, which weakened the incentive for retailers to offer higher biofuel blends.
然而,近几个月来,拜登给药在表现出对生物燃料的支持方面取得了长足进步,最著名的是waiver enacted in April lifting outdated restrictions on E15, a 15% bioethanol blend, to help curtail skyrocketing prices at the pump.
Additionally, in March, the Indiana Senate sustained Governor Eric Holcomb’s veto of anti-E15 legislation.
Indiana’s strong support for E15 — including actions by the governor, lieutenant governor and legislature — was a key factor in POET’s decision to reinvest in the state.
“POET’s bioprocessing plants produce low-cost, low-carbon biofuels, bioCO2, high-protein animal feed and a growing suite of other bioproducts from American grain,” said Broin.
“这些设施对农民有益,对农村社区有益,对世界有益,我们期待诗人带来的积极影响 - 克洛弗代尔将在未来的几年中创造。”
2022年5月31日
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