Today in Corning, Iowa, POET hosted a grand opening ceremony for their 20th ethanol production facility. With 60 million gallons of production coming online in Corning, POET becomes one of only two ethanol companies with an annual production capacity over one billion gallons.

Jeff Broin, CEO of POET, said, “We've come a long way since we started with a one million gallon facility 20 years ago, but what really motivates us is the impact that producing one billion gallons of ethanol has on some of the most pressing issues of our day. It stimulates the economy, it improves the environment. And it actually makes our country a more secure place by reducing our need for foreign oil.”

POET Biorefining – Corning will utilize more than 21 million bushels of corn from the area to produce 60 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 BNSF. The $105 million facility will provide around 40 jobs with an annual payroll of about $2 million.

The facility is the 26th constructed by POET and the 20th under management since they were founded 20 years ago. The company also has seven under construction or in development in Indiana, Minnesota and Ohio. Corning is the seventh POET Biorefining plant in the state of Iowa, the first of which began operations near Coon Rapids in August, 2002.

“The region is gaining one of the most efficient facilities in the ethanol industry,” Broin added. “It has benefited from 20 years of Research & Development at POET and the learning that comes from having built 25 – now 26 – ethanol plants. It includes advancements like our patent-pending BPX technology that eliminates the cooking process in ethanol production. This technology reduces our energy usage by as much as 15 percent in comparison with conventional plants.”

U.S. Senator Chuck Grassley, who spoke at the ceremony said, “Hats off to the good people of Adams County for following through on a vision. Energy security is one of the nation's top priorities and I salute you for helping to lead the way. Everybody involved ought to take pride and enjoy the economic benefits that are sure to reverberate throughout the regional economy.”

Representative Steve King and Iowa Secretary of Agriculture Bill Northey were also in attendance along with Matt Hartwig of the Renewable Fuels Association and Ron Lamberty from the American Coalition for Ethanol.

About POET
POET, the largest dry mill ethanol producer in the United States, is an established leader in the biorefining industry through project development, design and construction, research and development, plant management, and marketing. 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. For more information, go to http://www.poetenergy.com

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