Feb. 20, 2019

POET and its new JIVE asphalt product have earned the No. 3 spot in the transportation category in this year’s Fast Company list of theWorld’s Most Innovative Companies.

The Sioux Falls-based biofuels producer made the annual ranking in the transportation category with its new proprietary asphalt rejuvenator and modifier, now being used to pave roadways in states across the U.S.

“Our world is addicted to fossil fuels. At POET, we’re breaking that addiction,” CEO Jeff Broin said. “Biofuels like ethanol are the best solution to reverse the devastating effects of climate change caused by a century of burning fossil fuels. And POET’s impact extends beyond the fuel tank; we’re launching additional bioproducts from starch and biomass, including a new eco-friendly, renewable asphalt component for U.S. roadways. We’re making the roads we drive on as green as the biofuels used to power our vehicles.”

The Fast Company annual list honors businesses making the most profound impact on both industry and culture. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.

“Established players are showing the same kind of nimbleness that we’ve generally associated with startups,” said Fast Company deputy editor David Lidsky.

“We are truly honored to be recognized by Fast Company for creating sustainable solutions to our world’s most challenging problems,” Broin said.

JIVE is used to maintain the integrity of roads in both high- and low-temperature conditions. It helps stop cracking in cold weather and rutting in warm weather, according to POET. It also softens old asphalt for recycling.

JIVE is a lower-cost, better performing product than the petroleum-based modifiers historically used, the company said. POET has the capacity to produce enough JIVE to pave a highway around the world each year.

Fast Company’s Most Innovative Companies issue is available online.