POET acquires Flint Hills Resources’ biofuel business
Thursday, June 3, 2021
POET, the world’s largest producer of biofuels, acquired the bioethanol assets of Flint Hills Resources’ in their entirety, expanding the company’s production capacity by 40%.
POET is a world leader in green bioproducts, with an ever-growing suite of renewable solutions including bioethanol, renewable CO2, purified alcohol, high-protein animal feed, asphalt additives and corn oil used for renewable diesel. 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.
“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,” said POET founder and CEO, Jeff Broin.
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