Source: Cormo USA news release
“We are excited to officially be an Indiana corporation and look forward to growing our business and supporting the local agriculture community” said Stefan Muehlbauer, president of the Board at Cormo USA.
“Hoosiers across Indiana and particularly the residents of Rushville and the surrounding communities have welcomed us warmly and the move to Indiana has been made easier thanks to the support of Governor Eric Holcomb, Congressman Greg Pence, the Indiana Economic Development Corporation, Mayor of Rushville Mike Pavey, and to everyone else involved in the process” said Muehlbauer.
Mayor Mike Pavey said, “I am very excited that Cormo selected Rushville and thank my team for all of their hard work. I look forward to working with Cormo and making sure they find success in Rushville.”
Cormo USA, which was incorporated as a joint venture between Switzerland-based Cormo AG and Florida-based Sustainable Projects Group Inc., will invest approximately $30 million to establish its first U.S. production plant in Indiana, constructing and equipping a state-of-the-art facility on 10 acres in the Commerce Park at Rushville, by 2023.
Cormo will process maize straw from up to 150,000 acres of corn fields each year into a 100 percent sustainable peat moss substitute (TEFA) for agricultural uses and into foam products (BABS) for material science uses. This patented process has been utilized at the company’s pilot plant in France since 2016.
“Companies like Cormo USA continue to help bring to life Governor Holcomb’s vision of increasing our state’s global connectivity,” said Indiana Secretary of Commerce Jim Schellinger. “The strength of Indiana’s agriculture and tech sectors make us a perfect destination for innovative companies like Cormo USA, and we couldn’t be more excited to support them as they expand and bring more of the world to Indiana.”
The company is excited for the work that lays ahead and is confident that the production of TEFA peat moss will have lasting impacts on Indiana, its economy and local communities.