POET has bought Flint Hills Resources’ entire ethanol business, boosting the biofuel company’s ethanol production capacity by 40% to three billion gallons per year.
Flint Hills, based in Wichita, Kansas, was the fifth-largest ethanol producer in the United States before the acquisition.
The acquisition includes six bioprocessing facilities located in Iowa and Nebraska and two terminals in Texas and Georgia. POET will now operate 33 bioprocessing facilities across eight states.
“These high-quality bioprocessing facilities have been well-maintained and strategically compliment POET’s current geographic footprint – allowing us new flexibility and greater market access,” said POET president and chief operating officer Jeff Lautt. “We look forward to adding these new locations to our portfolio and to the many opportunities that lie ahead as a result of this significant addition to the POET network.”
For more information visit: www.fhr.com