POET Pivots to Hand Sanitizer

POET LLC, the world’s largest ethanol manufacturer producing about two billion gallons of the product per year, has made a pretty drastic business transition after retooling and pivoting into hand sanitizers instead.

According to OilPrice.com, POET has re-engineered its systems to make pharmaceutical-grade hand sanitizers after ethanol prices cratered following weak gasoline demand.

POET CEO Jeff Broin says his company intends to stay in the hand sanitizer business even after fuel demand recovers and sees the new segment eventually providing as much as 5% of its income.