Indiana Gov. Eric J. Holcomb joined local officials and executives of POET, the world's largest biofuels producer, to break ground on a significant expansion to the company's biorefinery in Alexandria, Ind.
POET announced plans in August to scale up production of purified alcohol, a key component of hand sanitizer. This will support the company's efforts to help meet increased demand for personal protective equipment among health care providers and frontline workers during the global COVID-19 pandemic.
The company will invest $25 million to upgrade its bioprocessing facility in Madison County, converting production of 30-35 million gallons of fuel ethanol into industrial alcohol annually. The new facility, which is expected to be operational in early 2021, will support an additional six team members.
The Indiana Economic Development Corporation offered POET up to $100,000 from the Industrial Development Grant Fund to support on-site infrastructure improvements at the company's facility.
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