POET Ethanol Expands Business by 40 Percent

POET announced it has acquired Flint Hills Resources’ entire ethanol business. Reuters says that highlights the largest American biofuel producer’s bet that conventional renewable fuels like corn-based ethanol will play a big role in the push to reduce U.S. carbon emissions. The company says the deal will boost POET’s ethanol production capacity by 40 percent to three billion gallons annually. Hear more with Jesse Allen in the audio story below. Print story continues below as well.

“Biofuels are one of the best near-term solutions to climate change,” says POET founder and Chief Executive Jeff Broin. “We don’t have decades to wait, and biofuels are already here today.” The acquisition includes six biofuel processing facilities that are in Iowa and Nebraska, as well as two terminals in Texas and Georgia. POET, based in Sioux Falls, South Dakota, will now operate 33 biofuel processing operations in eight states. Flint Hills is a refining, biofuels, and petrochemical company based in Wichita, Kansas. It was the fifth-largest ethanol producer in America before the acquisition. The deal will also boost POET’s dried distiller’s grain production to seven million tons a year and its corn oil production to 975 million pounds annually.

Related articles

Senators Fischer and Klobuchar Introduce Year Round E15 Legislation

On Tuesday, Nebraska Republican Senator Deb Fischer along with Minnesota Democratic Senator Amy Klobuchar introduced the Consumer and Fuel Retailer Choice Act. The legislation, also backed by 13 bipartisan Senators, would allow the sale...

Mexico Is Open to Deal with U.S. on GMO Corn

Agriculture Secretary Tom Vilsack met with Mexican President Andrés Manuel López Obrador earlier this week. The leaders discussed a looming decree by the Mexican president that would ban imports of biotech corn into the...

Removal of Trade Barriers Could Increase China’s Ag Imports

China imported more than $205 billion of agricultural products in 2021, including more than $37 billion from the United States. However, USDA Economic Research Service points out that trade barriers deterred China’s imports from...

Impacts of Rail Strike Would Precede Walkout, Paring Congress’ Time to Act

A threatened rail strike could have widespread effects on agriculture, manufacturing and the rest of the nation’s economy days ahead of a walkout. Congress must act sooner than the December 9 strike deadline since the...

Ag Organizations Call for McKalip and Taylor Nominations Votes

Agriculture groups through Farmers for Free Trade call on the Senate to confirm two key agricultural trade officials in the Biden administration. The coalition sent a letter to Senate leaders Tuesday calling for the confirmation...

Latest articles

Leave a Reply

%d bloggers like this: