Wedoany.com Report-Sept. 4, POET LLC, the world’s largest biofuels producer, has announced an agreement to acquire Green Plains Obion, a bioethanol facility located in northwestern Tennessee. The acquisition will add 120 million gallons of annual production capacity to POET’s portfolio and strengthen the company’s market reach in the southeastern U.S. The deal is scheduled to close in the third quarter of 2025.

The Obion facility, commissioned in 2008, has a production capacity of 120 million gallons of bioethanol per year. The site spans 230 acres and includes extensive corn storage capacity and rail infrastructure, making it well suited for efficient operations and distribution.

With this acquisition, POET will expand its network to 35 bioprocessing facilities across nine U.S. states, achieving a combined annual production capacity of 3.1 billion gallons. The strategic location of the Obion plant complements the company’s existing Midwest footprint, enabling broader service to regional grain markets and expanded access to new customers in southeastern states.

POET Founder and CEO Jeff Broin said: “This acquisition enables POET to produce even more high-quality, American-made biofuels and bioproducts—creating grain markets for our farmers, reducing our dependence on foreign oil, and empowering rural communities to play a key role in strengthening the global bioeconomy.”

POET President and Chief Operating Officer Jeff Lautt added: “This facility will enhance POET’s competitive advantage within our industry and within the liquid fuel sector by growing our existing fleet and expanding our reach into southeastern markets for bioethanol and other co-products. We’re confident in the future of bioproducts, and this investment underscores that optimism.”

Beyond bioethanol, POET produces a range of plant-based bioproducts such as animal feed ingredients, corn oil, bioCO₂, and purified alcohol. These products are marketed both domestically and internationally, reaching more than 25 countries. In 2024, POET was recognized as the 15th-largest U.S. container exporter by S&P’s Journal of Commerce, reflecting its growing global presence.

The company also remains active in supporting the nationwide adoption of E15, a bioethanol blend containing 15% ethanol. This effort aims to expand consumer access to renewable fuel options across the U.S.

Broin highlighted the company’s long-term mission: “POET was founded nearly 40 years ago with a bold vision: to revitalize rural communities, improve our environment, and redefine our energy future. Today that vision is more important than ever. We look forward to expanding the POET team to Tennessee as we continue to harness the power of American agriculture and bioprocessing to feed and fuel the world.”

The acquisition represents a significant step for POET in scaling its operations, supporting rural economies, and advancing renewable biofuel production in the U.S.