When POET opened its 20th ethanol production facility, a plant in Corning, Iowa, with an annual capacity of 60 million gallons, it became one of only two ethanol companies with an annual production capacity of more than one billion gallons. ADM is the other.
The POET (formerly known as Broin) plant in Corning will use more than 21 million bushels of corn from the area to produce the 60 million gallons of ethanol and 178,000 tons of distillers byproducts per year.
The facility is the 26th constructed by POET and the 20th under management since they were founded 20 years ago. The company also has seven under construction or in development in Indiana, Minnesota and Ohio. Corning is the seventh POET Biorefining plant in the state of Iowa, the first of which began operations near Coon Rapids in August, 2002.