POET Breaks Ground on 65 MGPY Ethanol Plant

POET, the largest dry mill ethanol producer in the U.S., held a groundbreaking ceremony yesterday for a $130 million ethanol production facility, which is the company’s third ethanol plant in the state of Ohio. Dirt work has already started at the site with construction expected to begin later this month and last 12-14 months.

At 60 million gallons of ethanol per year (MGPY), POET Biorefining-Fostoria will consume 21 million bushels of locally grown corn and produce 178,000 tons of premium Dakota Gold Enhanced Nutrition Distillers Products™. Ethanol marketing for the facility will be provided by POET Ethanol Products and byproducts will be marketed by POET Nutrition. Rail access is through Norfolk Southern.

Jeff Broin, CEO of POET, said, “From city and county officials to the economic development team and community leaders, Fostoria has been an outstanding partner in the development of this facility. In about one year, the area will be home to one of the most technologically-advanced, environmentally-friendly ethanol plants in the world. It will not only benefit the local economy, but also decrease our country’s dependence on foreign oil and provide a clean fuel that improves the environment.”

Mike Wagner, Executive Director of the Buckeye Renewable Fuels Association, added “we’ve been working for years to bring ethanol production to the Buckeye state because it’s going to be tremendous for our rural economy. With POET, we’re proud to have one of the leading ethanol producers in the U.S. breaking ground for its third plant in the state of Ohio. Fostoria has been an agricultural center for years and this ethanol plant will ensure that tradition continues for many years to come.”

This is the third site in the state of Ohio that POET has selected for an ethanol production facility. A 60 mpgy facility near Leipsic is expected to be completed early next year and ground was broken on a site near Marion in July.

Formerly known as Broin, the 20-year old company currently operates 20 production facilities in the United States with seven more in construction or under development. The company produces and markets more than one billion gallons of ethanol annually.

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