Wednesday, March 8, 2023
SIOUX FALLS, S.D. (March 8, 2023) – POET, the world’s largest producer of biofuels, is celebrating its 35th anniversary.
The company, which built its success from humble beginnings, has experienced unparalleled growth since its inception in 1987 ‒ becoming the largest and fastest-growing biofuels company on the planet. What began as a small-scale bioethanol plant on the Broin family farm led to the purchase of a one-million-gallon-per-year facility in Scotland, South Dakota, and has fueled a legacy of innovation and economic growth across America’s Heartland, now processing 7% of the U.S. corn crop into biofuel and plant-based bioproducts.
Today, POET boasts an annual production rate of three billion gallons of bioethanol, 14 billion pounds of animal feed, and 1 billion pounds of corn oil. The company’s heavy investment in biotech research and development has resulted in a suite of more than a dozen value-added bioproducts, and each of POET’s 33 bioprocessing plants contributes an average of $200 million to its local economy.
POET marked its anniversary year by releasing a short film titled, “A Vision and Beyond: The Story of POET.” The film chronicles the company’s rich history through interview footage with POET’s leadership, team, and supporters.
“POET currently has 2,400 team members located in dozens of communities across the U.S.,” said Jeff Broin, POET Founder & CEO. “When we first began with just 13 employees, I never could have envisioned the scope of what this company would become. POET’s legacy is truly a testament to our people, which is why I dedicated the film to them — to their hard work, ingenuity, and dedication to making our world a better place.”
In its 35 years, POET has cultivated a reputation as a pioneer of biotechnology, a devoted advocate for sustainability, and a responsible corporate citizen of the communities that have fostered its tremendous growth.
“One of our top priorities has always been to be a great asset to each of the communities we call home,” said Jeff Lautt, POET President and COO. “Our people come first. We also want our communities to be great places to live and raise families and are very proud to see our team members take our philosophy to give back outside our walls.”
In addition to contributing $1.9 billion in gross economic output across the state of South Dakota, POET also gives back through sponsorships and hands-on involvement with dozens of organizations in the Sioux Falls area and beyond. The POET Gives Back program provides robust community-level grants at the company’s 33 bioprocessing locations and sponsors a nationwide scholarship program. In 2014, the company took its philanthropic efforts to a global scale with the founding of Seeds of Change by Jeff and Tammie Broin.
“It’s truly humbling to reflect upon the last three and a half decades,” said Broin. “This an exciting milestone for every team member, investor, farmer, and supporter that has helped to write the POET story. I’m continually blown away by what we’ve been able to accomplish, but I still feel like we’re just getting started.”
To watch POET’s short film, please visit https://poet.com/history