POET Plans Groundbreaking Ceremony Today for Marion, Ohio Fuel Ethanol Plant

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Researched by Industrial Info Resources (Sugar Land, Texas). The largest dry mill ethanol producer in the country, POET Energy (Sioux Falls, South Dakota), formally known as Broin Companies, is planning a groundbreaking ceremony later this afternoon in Marion, Ohio at 1:30 p.m. CST to commemorate the start of construction on yet another fuel ethanol plant in the companies growing portfolio of ethanol plants.

The public is invited and the ceremony will start with a speaking program at the Marion County Building then those in attendance will be shuttled to the plant site in Marion off Hillman Ford Road for the silver shovel ceremony. The plant will be called POET Biorefining - Marion and represents a capital investment of $130 million.

Plans call for the creation of a nameplate 65 million gallon per year plant that will process 21 million bushels per year of locally grown corn into the fuel and produce 178,000 tons per year of distillers dried grains. The plant will be designed and built by POET Design and Construction, a division of POET.

Construction is expected to take sixteen months to complete and the plant is scheduled to be operational by the forth quarter of 2008.

POET now has an annual ethanol production capacity of over 1 billion gallons now that its twentieth plant is in operation in Corning, Iowa. That number puts the company right on the heels of the largest U.S producer, Ag giant ADM, with some 1.1 billion gallons of annual capacity.

The Marion project also marks the seventh fuel ethanol plant currently under construction in the state of Ohio and another fifteen ethanol plants are at this time in various stages of pre-construction. An estimated $2.3 billion will be spent in the coming years to build-out Ohio’s ethanol production capacity.

Industrial Info's Ethanol Production Database provides a comprehensive outline of all current development activities in the emerging synthetic fuels market. This database covers 123 ethanol plants currently in operation and 387 plants under development. It also covers 48 operational biodiesel plants and 142 biodiesel plants under development.

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