Aug. 26, 2019

Sioux Falls-based Poet has been named by Fortune as one of 52 global companies the magazine has deemed are changing the world.

It’s the fifth annual Change the World list, which recognizes organizations that are solving society’s most significant challenges.

POET was recognized for its biofuels production and its contribution to improving the environment, removing toxic chemicals and leaving the world in a better place for future generations.

Fortune also honored Poet’s innovative co-products, including its feed solutions and Jive, an asphalt rejuvenator. Jive also was recognized earlier this year when Fast Company named Poet to its most innovative companies list.

“Current research shows that air pollution kills more people each year than smoking – and no one is safe from its effects. Add to that the impending threat of climate change and the economic crisis facing rural America, and it’s clear that the work we’re doing at POET is more critical now than ever,” chairman and CEO Jeff Broin said in a statement.

“Biofuels like ethanol are an affordable, readily available solution, and our high-protein co-products lower worldwide food prices. We need to get more clean biofuels and fewer toxic chemicals in the gas tank in order to preserve our planet for future generations.”

Other companies named to Fortune’s annual list include Bank of America, Beyond Meat and Patagonia.

POET was ranked No. 34 on the list.

“South Dakota-based POET makes the most of an ear of corn. The world’s leading producer of biofuels turns the crop into ethanol at its 28 facilities, but it has also engineered uses for the process’ byproducts — including a more dense, nutrient-rich animal feed … and Jive, an academically vetted asphalt ‘rejuvenator’ that makes roads from Canada to California to New Jersey, less temperature-sensitive and more durable,” the Fortune piece said.

“Ethanol evokes criticism in some quarters because it essentially uses food for fuel. In response, POET points to its efficiencies and the nation’s corn glut; at a time of fast-rising agricultural debt and farm bankruptcies, POET offers farmers another source of income.”

Qualcomm, a mobile chip designer pioneering 5G connectivity, topped the list.

To see the full list, click here. 

POET’s Broin thinks bigger with new products, growing nonprofit