Tuesday, September 1, 2020
SIOUX FALLS, SD (September 1) -- Today POET announced its partnership with Farmers Business Network (FBN) to boost profits for farmers while promoting sustainable agricultural practices through the new GRO Network. The GRO Network creates environmental transparency and matches farmers who use environmentally friendly practices with buyers who pay a premium for low-carbon corn.
For more than 30 years, POET has been a driving force for the biofuels industry. The company’s tradition of innovation and environmental stewardship brings renewable products to consumers every day. Through the GRO Network, POET is once again working to implement the bold solutions that are necessary to preserve our planet for future generations.
“At POET we know that agriculture is the key to combating climate change, and we want to support farmers who share our mission to be good stewards of the Earth by using environmentally friendly practices. We are excited about the potential of the GRO Network to promote sustainable agriculture and utilize the resulting low-carbon corn to produce even greener bioethanol and bioproducts,” said POET Founder and CEO Jeff Broin.
The GRO Network connects farmers who utilize measurable sustainable practices with buyers who are willing to pay for verifiable low-carbon grain. The program is groundbreaking in its focus on abatement and using proven science to measure the benefits of conservation practices used by farmers on their land. These measurements result in a farm-level carbon-intensity score that can be used by policymakers to more accurately assess the greenhouse gas (GHG) reduction for low-carbon fuel policies and make smart decisions to meet their sustainability goals.
“The agricultural industry has long felt the impact of climate change in the form of extreme weather, flooding, and droughts, which is why so many farmers have been investing and working to reduce their environmental impact for some time,” said Amol Deshpande, CEO and Co-Founder of FBN. “Now, a standardized, accurate and comprehensive scoring tool arms all stakeholders – from farmers, food companies, consumers and investors – with the information and technology they need to make the right decisions for their farms, customers, clients and the planet.”
POET began working with FBN two years ago on a pilot project that demonstrated the viability of the GRO Network approach. Compared with other programs that face challenges with testing and marketplace development, abatement alone has been proven to reduce agricultural emissions by up to 50% while also increasing farm incomes.
POET is committed to using low-carbon grain to produce biofuel to fulfill available low-carbon fuel markets, which will enable governments, companies and consumers to reduce their transportation emissions and join the Renewable Revolution.
POET, headquartered in Sioux Falls, SD, is the world’s largest biofuels producer. POET is a leader in biorefining through its efficient, vertically integrated approach to production. Started in 1987, the company today has a network of 28 production facilities across 7 states. At full run rates, POET purchases 5% of US corn and produces 2 billion gallons of ethanol, 10 billion pounds of distillers dried grains, and 600 million pounds of corn oil annually. In 2019, Fast Company recognized POET on its annual list of “Most Innovative Companies” for transportation and FORTUNE recognized POET on its list of companies that are changing the world. For more information, visit poet.com.