A leader in the sustainable bioproducts industry, POET, has acquired the bioethanol assets of Flint Hills Resources in their entirety, expanding the company’s production capacity by 40 percent. The purchase comprises six bioprocessing facilities situated in Iowa and Nebraska and two terminals in Texas and Georgia, US.
POET has an increasing suite of renewable bioproducts and solutions, comprising bioethanol, renewable CO2, purified alcohol, high-protein animal feed, asphalt additives and corn oil used for renewable diesel. POET will now manage 33 bioprocessing facilities across eight states with a joint annual capacity of 3 billion gallons.
Jeff Broin, founder and CEO of POET, said: “This acquisition will increase POET’s ability to bring even more high-quality, plant-based biofuels and bioproducts to the world—allowing us to have an even bigger impact on fighting climate change and cleaning our air,
“We’ve been a leader in the biofuels business for 33 years and have never wavered in our belief in the power of agriculture and biofuels to offer the most accessible, near-term solution to climate change. We are on the cusp of a new sustainable economy that will be powered by renewable energy. Bioethanol is critical to this new economy and will continue to be so for years to come.”
For more information visit www.poet.com
