$200 Million Expansion Underway at POET Bioprocessing Ethanol Plant

A $200 million expansion is underway at POET Bioprocessing in Shelbyville, Indiana. The ethanol plant will double its production capacity, producing just over 190 million gallons of ethanol per year once complete.

The facility currently produces ethanol, dried distillers grain for animal feed, corn oil, corn syrup, and CO2. General Manager Jason Lucas said the industry's growth is driven by market demand for liquid fuels, citing a 'greater demand right now in the markets.'

The expansion will also increase corn prices by 15 to 20 cents per bushel. Lucas noted that farmers benefit from this increase, but added 'we need the corn to make the ethanol.' The project's current cost is $160 million, with total costs expected to exceed $200 million.