June 1, 2021

The world’s largest producer of biofuels has just gotten bigger.

Sioux Falls-based POET has finalized the acquisition of Kansas-based Flint Hills Resources’ bioethanol assets, expanding the company’s production capacity by 40 percent.

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

Flint Hills was the nation’s fifth-largest ethanol producer.

“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,” POET founder and CEO Jeff Broin said in a statement.

Recent studies demonstrate the ability of biofuels to immediately contribute to decarbonizing the transportation sector and lowering greenhouse gas emissions, he added.

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

The newly acquired bioprocessing facilities are high quality and “have been well-maintained and strategically complement POET’s current geographic footprint — allowing us new flexibility and greater market access,” president and chief operating officer Jeff Lautt said. “We look forward to adding these new locations to our portfolio and to the many opportunities that lie ahead as a result of this significant addition to the POET network.”

POET also is a world leader in green bioproducts, with a growing suite of renewable products, including bioethanol, renewable CO2, purified alcohol, high-protein animal feed, asphalt additives and corn oil used for renewable diesel.

“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,” said POET chief commercial officer Bob Casper.