Poet acquires Kansas company’s biofuel business, greatly expanding production

File photo of Poet's ethanol production facility in Chancellor
File photo of Poet's ethanol production facility in Chancellor(KSFY)
Updated: Jun. 1, 2021 at 2:07 PM CDT
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SIOUX FALLS, S.D. (Dakota News Now) - A major new acquisition will allow Sioux Falls-based biofuel company Poet to dramatically increase its ethanol production.

Poet has acquired the bioethanol assets of Kansas-based Flint Hills Resources, company officials announced Tuesday. The move will expand Poet’s production capacity by 40%.

The acquisition includes six bioprocessing facilities located in Iowa and Nebraska and two terminals in Texas and Georgia. Poet will now operate 33 bioprocessing facilities across eight states with a combined annual capacity of 3 billion gallons, according to the company.

“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,” POET Founder and CEO Jeff Broin said. “With this move, we’re demonstrating our commitment to the future of low-carbon, plant-based liquid fuels.”

Poet is the world’s largest producer of biofuels, according to a press release from the company.

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