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CLOVERDALE - With a shovel in hand, Gov. Mitch Daniels was among state officials to break ground at the new corn refinery/ethanol plant operated by Putnam Ethanol LCC.
"Creation of this plant is good news for Hoosiers and a great application of our Clean Indiana Energy policy," Gov. Daniels said. "Not only are we expanding our already strong manufacturing base, but Putnam Ethanol will add jobs, purchase raw materials from Hoosier farmers, and create a renewable fuel source that is less harmful on the environment. As we increase our production and consumption of renewable fuels like ethanol, the benefits to our economy and environment will grow exponentially."
Daniels was joined at the ceremony by state Secretary of Commerce Patricia R. Miller and Andrew Miller, director of the State Department of Agriculture.
A limited liability company based out of Westmont, Ill., Putnam Ethanol is one of Indiana's newest ethanol producers. The Cloverdale plant will have the capability to produce more than 60 million gallons of ethanol each year and will consume more than 20 million bushels of corn.
"This plant represents an investment of more than $120 million dollars in the most up-to-date corn processing technology to produce ethanol and other valuable co-products," said Terrence O'Malley, CEO of Putnam Ethanol. "The plant will provide more than 40 professional, skilled and semi-skilled employment opportunities for Hoosiers."
Midland Impact LLP, Indiana's largest farmer-owned co-operative, will originate corn for this facility from Indiana farmers. Also an equity partner in this project, Midland Impact has more than 5,000 farmer members in the state.
"The plant will provide another outlet for Indiana farmers to sell corn for the manufacture of value added agriculture products," said Kevin Still, CEO of Midland Impact. "Today, the production of ethanol is helping to decrease our reliance on foreign energy supplies and helps to improve the environment."
The Putnam Ethanol plant, using advances in technology used to mill and process corn, will produce carbon dioxide, corn germ, corn fiber, and corn protein concentrate, in addition to ethanol. The plant will begin production in August 2006.
The Indiana Economic Development Corp. (IEDC), in partnership with the Town of Cloverdale and Putnam County, worked together to provide an incentive package that helped secure the $120 million ethanol plant.