Hardly anyone knew what ethanol was 20 years ago, but that is when the company formally known as Broin started in the ethanol business.
United States Senator John Thune, South Dakota Lieutenant Governor Dennis Daugaard and other elected officials helped the company now known as POET celebrate at their corporate headquarters in Sioux Falls, S.D.
“Jeff Broin and POET were present at the creation of the American ethanol industry,” said Senator Thune. “They deserve the highest praise for their historic leadership and for building South Dakota’s economy for the past 20 years.”
POET was founded 20 years ago when the Broin family from Wanamingo, Minn. purchased an ethanol plant in Scotland, S.D. Today, its 21 ethanol plants annually produce just over 1.1 billion gallons of ethanol and 3 million tons of DDGS, making it the largest producer of ethanol in the world. With five plants under construction and one in the midst of expansion, POET will be producing 1.5 billion gallons of ethanol by the end of 2008.