POET Applauds Passage of Michigan Incentive for Lower-Carbon E15

Caro, Mich. (June 27, 2024) - POET, the world's largest biofuel producer, today applauded newly passed legislation to boost consumer access to more affordable, lower-carbon E15 fuel made with Michigan bioethanol. Michigan Reps. Reggie Miller, Angela Witwer, and Will Snyder successfully championed the creation of a new retail incentive within Michigan's 2024 Omnibus Budget Act which was signed into law by Governor Gretchen Whitmer on Thursday. The program would provide retailers with a $0.05 incentive for each gallon of E15 sold.

"Launching this incentive will ensure that more Michigan motorists can access cleaner fuel and bigger savings with E15," said Doug DeLand, General Manager of POET Bioprocessing in Caro, Michigan. "POET is proud to work alongside Michigan farmers to produce cleaner fuels, and we applaud Reps. Reggie Miller, Angela Witwer, and Will Snyder for helping more retailers offer earth-friendly options at the pump. This bill will support family farms and local jobs, reduce emissions, and accelerate the growth of Michigan's bioeconomy."

Last year, Americans saved an average of 22 cents per gallon with E15 compared to E10 gasoline based on reported prices at the pump, with savings reaching 40-60 cents less per gallon in some areas.

Research also shows that shifting from standard E10 gasoline to E15 across Michigan would reduce lifecycle greenhouse gas emissions by more than 580,000 tons per year - the equivalent of taking 126,000 cars off the road.

Today, E15 is available at more than 3,400 retail locations in 33 states. Michigan regrettably lags behind, with fewer than 20 retail locations selling E15 in the state. According to POET, the new E15 incentive will drive down pump prices at the pump and help Michigan supply cleaner fuel for the millions of gasoline-powered vehicles on Michigan's roads for decades to come.