POET
Privately held U.S.-based POET Llc has overtaken industry pioneer and global grain merchant Archer Daniels Midland Co to become the top ethanol producer in the world, the companies told Reuters.
ADM had been the biggest ethanol maker since the United States began requiring refiners to mix billions of gallons of biofuels into the nation’s gasoline more than a decade ago, under the Renewable Fuel Standard.
POET’s annual biofuel capacity has grown to 1.9 billion gallons and will reach 2 billion by 2019; ADM’s has shrunk to about 1.6 billion gallons, according to figures provided by each company.
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