POET, the world’s largest producer of biofuels, has announced that the company will invest $30 million and reopen its ethanol production facility in Cloverdale, Indiana.
The company had idled the Cloverdale facility in 2019. The plant reopening in 2023 will create 50 local jobs and use 34 million bushels of corn annually.
POET will invest in new technology to improve the efficiency of the plant and it will boost Cloverdale’s production capacity from 80 million gallons a year to 95 million gallons of ethanol.
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