POET, the world's largest producer of biofuel, has completed its acquisition of Green Plains Obion, a bioethanol facility in northwestern Tennessee. The facility will now operate as POET Bioprocessing – Obion.
The acquisition expands POET's portfolio to 35 bioprocessing facilities across nine states and increases its annual production capacity to 3.1 billion gallons of bioethanol.
The Obion facility, commissioned in 2008, sits on 230 acres and has an annual production capacity of 120 million gallons of bioethanol. The site features extensive corn storage and rail infrastructure.
"This acquisition strengthens our ability to serve southeastern markets and expands opportunities for farmers and rural communities across the region," said POET Founder and CEO Jeff Broin.
Beyond bioethanol, POET produces 15 billion pounds of high-protein feed ingredients annually, along with 1 billion pounds of corn oil for renewable diesel and 800,000 tons of bioCO2 for food, beverage and industrial applications.
Broin added that the acquisition reaffirms POET's commitment to "providing high-quality, American-made biofuels and bioproducts that create strong markets for farmers, fortify rural economies, and ensure a more secure energy future for our nation."
