The largest ethanol producer in the world got a little bigger today, and so did Indiana’s ethanol production capacity.

POET opened its 27th ethanol plant and fourth plant in Cloverdale, Indiana with a grand opening event that included ethanol industry and government leaders, area farmers, new team members and area residents.

The opening of POET Biorefining – Cloverdale represents an important milestone for Indiana, bringing total ethanol production to over 1 billion gallons, which was a development goal set by state leaders.

Lt. Gov. Becky Skillman said Indiana’s ethanol production has been good for the Hoosier economy. “Indiana is doing its part to ease our reliance on foreign oil,” Lt. Gov. Skillman said. “With the help of companies like POET, we will continue to create homegrown energy while giving an economic boost to rural Indiana.”

Skillman had the ribbon cutting honors at the grand opening, aided by other dignitaries, including POET CEO Jeff Broin, Growth Energy CEO Tom Buis, and plant General Manager Dave Brooks.

POET purchased the 90 million-gallon-per-year ethanol plant, which begins production next week, from Altra Biofuels in June 2010. Since then, the company has been busy installing about $30 million in upgrades, including BPX®, POET’s patented fermentation process that uses enzymes instead of heat and POET’s Total Water Recovery system that cuts wastewater discharge. That technology and other additions make POET Biorefining — Cloverdale one of the most energy and water efficient plants in the industry.