Friday, January 25, 2013
MACON, MO – POET Biorefining – Macon will temporarily suspend plant operations effective Feb. 1 due primarily to a lack of available local corn.
All of the plant’s 44 team members will remain employed at their current hours. Many will assist in installation of the approximately $14.5 million in upgrades to the plant that will occur during the down time. The plant will also continue to purchase corn for future use as it is available. There is currently no timeline for resuming production.
POET Biorefining – Macon, which started operation in 2000, is located in one of the worst-hit areas of last season’s drought, leaving it unable to source corn locally or bring corn in from other areas at a competitive price.
“Macon has been a very successful plant within the POET network,” POET CEO Jeff Lautt said. “Once conditions improve, I know the plant and its hard-working team members will continue to make POET-Biorefining – Macon a star.”
The plant is in the early stages of construction on a number of upgrades that will improve profitability further once production resumes. Those include:
“We’re all excited to see these upgrades taking effect,” Board President John Eggleston said. “It’s investments like these that will ensure continued long-term success for the plant.”
POET, one of the world’s largest ethanol producers, is a leader in biorefining through its efficient, vertically integrated approach to production. The 25-year-old company has a production capacity in excess of 1.6 billion gallons of ethanol and 9 billion pounds of high-protein animal feed annually from its network of 27 production facilities. POET also operates a pilot-scale cellulosic bio-ethanol plant, which uses corn cobs, leaves, husk and some stalk as feedstock, and expects to commercialize the process in Emmetsburg, Iowa through its joint venture with DSM. For more information, visit http://www.poet.com.