POET, the world’s largest producer of biofuels has acquired the biofuel assets of Flint Hills Resources in its entirety expanding the company’s production capacity by 40 percent. POET’s Vice President of Corporate Affairs Doug Berven says they’ve added 375 new employees and means their annual production is now 3 billion gallons.
He says the purchase went quite smoothly for both companies.
Berven calls their purchase a huge win for U.S. agriculture, the economy, consumers, farmers and the climate.
Poet’s 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.
