May 19, 2021

POET is in exclusive discussions to buy the nation’s fifth-largest biofuels producer.

The Sioux Falls-based company is looking to acquire the biofuels business of Kansas-based Flint Hills Resources, POET confirmed.

POET is the world’s largest producer of biofuels and a global leader in green bioproducts, with a growing suite of renewable products that includes bioethanol, food-grade CO2, purified alcohol, high-protein animal feed, asphalt additives and corn oil used for renewable diesel.

POET’s post-acquisition potential annual production capacity would be 3 billion gallons of bioethanol, 14 billion pounds of distillers grains and 975 million pounds of corn oil from 33 bioprocessing facilities.

No timeline for finalizing a deal was released.