Third POET Ethanol Plant Opens in Indiana

$130 million facility has annual production capacity of 65 mgpy

Today in North Manchester, Ind., POET hosted a grand opening ceremony for their 24th ethanol production facility. POET, the largest producer of biofuels in the world, was joined at the opening of POET Biorefining - North Manchester by Indiana Governor Mitch Daniels and Cathy Gallmeyer, Director of the Lugar Northeast Indiana Community Service.

“Right here in North Manchester, we are making a difference.” Jeff Broin, CEO of POET, said. “The ethanol that will be produced in this facility will displace over 60 million gallons of fossil fuels annually - decreasing our dependence on foreign oil and saving consumers money at the pump.”

“With its third Indiana facility, POET is quickly becoming a household name in our small towns,” said Governor Daniels. “This new North Manchester facility means more good jobs and an important market for our Hoosier farmers.”

The facility, the 30th constructed by POET since they were founded 20 years ago, will be equipped with technology that decreases its environmental footprint. That technology includes POET’s patent-pending BPX™ process that eliminates the need for heat in the cooking process of producing ethanol, reducing energy usage by 8-15 percent in comparison with conventional plants. It will also be outfitted with a regenerative thermal oxidizer that eliminates up to 99.9 percent of air emissions.

“The opening of the POET facility in Wabash County near North Manchester represents a crucial step in the diversification of our economy,” said Bill Konyha, President/CEO of the Economic Development Group of Wabash County. “We are pleased to have the opportunity to partner with an enterprise the caliber of POET on this project and would like to pledge our continued support for their efforts in the northeast Indiana region.”

POET Biorefining - North Manchester will utilize 22 million bushels of corn from the area to produce 65 million gallons of ethanol and 178,000 tons of Dakota Gold Enhanced Nutrition Distillers Products™ per year. Ethanol marketing for the facility is provided by POET Ethanol Products and byproducts are marketed by POET Nutrition. Rail access is through Norfolk Southern. The $130 million facility employs 42 people with an annual payroll above $2 million.

POET Biorefining - North Manchester is the third POET ethanol production facility in Indiana. POET currently has two plants under construction in Ohio. One near Fostoria, slated to open its doors on September 30, and near Marion which is expected to open later this quarter. POET also has a pilot scale cellulosic ethanol plant under construction in Scotland, S.D. that will begin producing ethanol from corn cobs before the end of the year.

About POET
POET, the largest ethanol producer in the world according to the Renewable Fuels Association, is an established leader in the biorefining industry through project development, design and construction, research and development, plant management, and marketing. The 20-year old company currently operates 24 production facilities in the United States with four more in construction or under development. The company produces and markets more than 1.4 billion gallons of ethanol annually. For more information, go to http://www.poet.com.