POET Purchases Shuttered Altra Indiana Ethanol Plant

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Researched by Industrial Info Resources (Sugar Land, Texas)--The world's largest ethanol producer, privately held POET Biorefining (Sioux Falls, South Dakota), has purchased the closed Altra Indiana LLC (Cloverdale, Indiana) ethanol plant. Bankrupt Altra Indiana began construction on a $170 million plant in 2006 and shuttered it in 2008, after a brief production run.

POET will invest about $30 million to upgrade and retrofit the facility, enabling it to have an annual production capacity of 90 million gallons of ethanol. Distillers grain for livestock feed also will be produced. POET is expecting to have the plant up and running in April 2011.

POET plans on hiring site staff during the next three months, and the facility will employ about 40 workers. POET already owns three of the 12 ethanol plants in operation in Indiana, where four other plants are in the planning stages and one is under construction.

The facility is on a 147-acre site on U.S. Highway 231 in the city of Cloverdale, Indiana, in Putnam County, approximately 42 miles southwest of Indianapolis, Indiana.

Industrial Info's Databases provides a regularly updated, comprehensive outline of all current development activities in the emerging alternative fuels market. Our North American Biodiesel Database covers 155 operational plants and 73 plants under development. Our North American Ethanol Database covers 206 plants in operation and 131 plants under various development phases. Our North American Wood Fuel Pellet Database includes 59 operational plants producing more than 25,000 tons annually, and 32 projects under progress.

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