POET CEO Jeff Broin was presented the George Washington Carver Award Monday at a ceremony at the BIO World Congress on Industrial Biotechnology in Montreal. The Carver Award signifies contributions by individuals in the field of industrial biotechnology and its application in biological engineering, environmental science, biorefining and bio based products. Broin says he’s honored and humbled to receive the award.

He says biofuel development over the past thirty years has had a significant impact on the U.S. and global economies.

Broin says 70 to 85 percent of the people in most developing nations are farmers. He says if grains are cheap it hurts not only these developing nation’s farmers but their consumers as well.

Broin says developing countries GDPs rise and fall with grain prices. He says increasing biofuels will be critical as yields continue to increase to stabilize commodity supplies and prices. That will allow developing nation’s farmers to turn a profit, feed their families and contribute to their country’s economy.