The asset’s location strategically complements POET’s existing Midwest footprint, expanding the company’s portfolio to 35 bioprocessing facilities across nine U.S. states with a combined annual production capacity of 3.1 billion gallons of bioethanol. The transaction is expected to close in the third quarter of 2025.
“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,” said POET Founder and CEO Jeff Broin.
The Obion facility was commissioned in 2008. It has an annual production capacity of 120 million gallons of bioethanol and sits on 230 acres, with ample corn storage and rail infrastructure.
“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,” added POET President and Chief Operating Officer Jeff Lautt. “We’re confident in the future of bioproducts, and this investment underscores that optimism.”
In addition to bioethanol, POET produces a suite of plant-based bioproducts—including animal feed ingredients, corn oil, bioCO2, and purified alcohol—which are marketed to an ever-growing base of domestic and international customers. In 2024 the company was named the nation’s 15th-largest container exporter by S&P’s Journal of Commerce, transporting bioproducts to more than 25 countries. POET also continues to help drive the nationwide, year-round sale of E15, a 15% bioethanol blend.
“POET was founded nearly 40 years ago with a bold vision: to revitalize rural communities, improve our environment, and redefine our energy future,” said Broin. “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.”
