Trump’s E15 Push Inspires POET to Build New Ethanol Plant
DES MOINES, Iowa -- POET, the world’s largest biofuels producer, is inspired so much by President Trump’s directive to allow year-round E15 fuel sales that it is going to build an 80-million-gallon-per-year ethanol plant.
The new biofuel facility will be built in Shelbyville, Indiana, with plans to bring that additional ethanol online in 2020, according to a POET press release Friday.
“This is the right project in the right location at the right time,” POET CEO Jeff Broin stated in the press release.
“Farmers desperately need the income boost from this new market for grain, and President Trump’s recent announcement of year-round E15 sales has the biofuels industry poised for new growth and prosperity. Shelbyville is leading the way for future production to meet new E15 demand. We’re excited to partner yet again with Indiana to create a cleaner, healthier environment for our children and grandchildren.”
The facility will be the 28th starch biofuel plant in POET’s network, and the fifth in that same state. It will add 45 full-time jobs and $110 million in annual corn purchases for farmers in the area, primarily within a 30-mile radius. POET plans to start hiring for full-time positions in spring 2019, according to the company’s press release.
Though industry experts see year-round E15 sales moving the ethanol demand needle very little, POET officials are relying on President Trump’s directive getting governmental approval.
New demand for biofuels is expected in coming years once the Trump administration provides full consumer access to E15 year-round. President Trump announced earlier this month that he has directed the EPA to fix outdated regulations that limit E15 availability, according to the POET release.
E15 is a higher octane, cleaner burning, and lower cost blend of 15% biofuel, POET stated.
“Full implementation of E15 nationwide would add 7 billion gallons of biofuels demand and an additional 2 billion bushels of corn demand for farmers who have been struggling with low crop prices and declining farm income over the last five years. This additional demand is important for communities that rely on agriculture to drive their economies,” Broin stated in the press release.