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Poet cancels Minnesota ethanol plant

9th May, 2008

US ethanol producer Poet has cancelled the construction of a plant near Glenville, Minnesota due to permitting delays.

'Permitting has delayed the project by more than a year and has caused a significant amount of additional costs making it less attractive than other potential projects in the Eastern Corn Belt,' Poet says in a statement. The company expected to distil 65-70 million gallons of the alternative fuel a year.

Poet plans to open three more distilleries before the end of the year and has opened three plants in Indiana and Ohio over the last seven months.

Poet operates 22 production facilities in the US, producing more than 1.25 billion gallons of ethanol a year.