Poet considers purchase of Flint Hills Resources' ethanol plants
May 14, 2021
BY Erin Krueger
Poet LLC is considering the purchase of Flint Hills Resources’ six ethanol plants. The two companies are currently in exclusive discussions over the possible sale of Flint Hills Resources’ biofuels business, according to Jessica Sexe, director of public relations at Poet.
Sioux Falls, South Dakota-based Poet is already the largest ethanol producer in the U.S., operating 28 corn ethanol plants spanning seven states. Wichita, Kansas-based Flint Hills Resources is currently the fifth largest biofuels producer in the U.S., operating six ethanol plants, including five located in Iowa and one located in Nebraska.
Post acquisition, Sexe said Poet’s annual ethanol production capacity would expand to approximately 3 billion gallons per year. The company would also have the capacity to produce 14 billion pounds of distillers grains and 975 million pounds of corn oil annually at its 35 bioprocessing facilities.
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Poet did not disclose an expected timeframe for the proposed transaction. Flint Hills Resources did not immediately respond to a request for comment.
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