Press Releases

POET to build third ethanol production facility in Indiana near North Manchester


$130 million facility will produce 65 million gallons of ethanol per year


Thursday, May 3, 2007


POET, the largest dry-mill ethanol producer in the country, selected a site near North Manchester for the company’s third ethanol production facility in the state of Indiana. The 200 acre site is approximately three miles south of North Manchester just east of Indiana 13 between County Roads 800N and 850N. Construction is expected to start later this year and last 12 to 14 months.

The $130 million facility will use 21 million bushels of corn per year to produce 65 million gallons of ethanol and 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, President & CEO of POET, said, “North Manchester is in the heart of Indiana’s Corn Belt and provides an excellent location for an ethanol plant. We are honored that the community has been so welcoming and pleased with the cooperation we’ve received from local officials. A foundation has been built for a lasting partnership between North Manchester and POET.”

Bill Konyha, President & CEO of the Economic Development Group of Wabash County, Inc. said, “Two things that we do really well in Wabash County are agriculture and manufacturing. Any opportunity that enables us to take locally grown crops and add value through processing is a win – win for the community” Konyha added. “It has been a pleasure to work with the folks from Poet” said Konyha. “They have been very professional and forthcoming in all of our dealings.”

North Manchester Town Manager Dan Hanaford said, “This project will benefit both the community of North Manchester and POET. The construction of the plant and the 40 new jobs represent a welcomed economic boost to the community.”

The North Manchester production facility will be the 3rd built by POET in the state of Indiana. POET Biorefining – Portland is expected to begin operations later this year, while construction of POET Biorefining – Alexandria will be completed in the first or second quarter of 2008.

POET has built 25 ethanol production facilities since it was founded 20 years ago and has seven more under construction or in development. POET currently manages 19 ethanol production facilities and is holding a grand opening celebration for its twentieth in Corning, Iowa tomorrow. The total annual production capacity for those 20 facilities is more than 1 billion gallons of ethanol.

About POET
POET, the largest dry mill ethanol producer in the United States, is an established leader in the bio-refining 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 19 production facilities in the United States while marketing more than one billion gallons of ethanol annually. For more information, go to http://www.poetenergy.com.

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