POET Acquires The Assets Of Flint Hills Biofuels wnax.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wnax.com Daily Mail and Mail on Sunday newspapers.
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Poet, a Sioux Falls-based producer of biofuels, has acquired the bioethanol assets of Flint Hills Resources, a Kansas-based company.
The acquisition expands Poet s production capacity by 40%, which equates to an increase of 3 billion gallons a year. Flint Hills is the nation’s fifth-largest biofuels producer.
The acquisition includes six bioprocessing facilities located in Iowa and Nebraska and two terminals in Texas and Georgia. Poet now operates 33 bioprocessing facilities across eight states.
“We are excited to further grow Poet s footprint across the Midwest and bring even more high-quality, plant-based bioproducts to consumers all over the country, Jeff Lautt, Poet president and COO, said in a statement. This acquisition will also create additional opportunities in Sioux Falls and we look forward [to] expanding our network of talented team members.