SIOUX FALLS, S.D. (Feb. 20, 2019) – POET and its new JIVE asphalt product have earned the No. 3 spot in this year’s Fast Company “World’s Most Innovative Companies.”

POET made the annual ranking in the transportation category thanks to its new proprietary asphalt rejuvenator and modifier, now being used to pave roadways in states across the U.S.

“Our world is addicted to fossil fuels. At POET, we’re breaking that addiction,” POET CEO Jeff Broin said. “Biofuels like ethanol are the best solution to reverse the devastating effects of climate change caused by a century of burning fossil fuels. And POET’s impact extends beyond the fuel tank; we’re launching additional bioproducts from starch and biomass including a new eco-friendly, renewable asphalt component for US roadways. We’re making the roads we drive on as green as the biofuels used to power our vehicles.”

“We are truly honored to be recognized by Fast Company for creating sustainable solutions to our world’s most challenging problems,” he said. “At POET, we’re committed to striving for innovations to help build a sustainable future for our children and grandchildren.”

The Fast Company annual list honors businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today’s volatile world. This year, Fast Company’s editors and writers sought out groundbreaking businesses across 35 industries and every region. The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.

“Established players are showing the same kind of nimbleness that we’ve generally associated with startups,” said Fast Company deputy editor David Lidsky, who oversaw the issue with senior editor Amy Farley.

JIVE is used to maintain the integrity of roads in both high- and low-temperature conditions. It helps stop cracking in cold weather and rutting in warm weather. It also softens old asphalt for recycling.

JIVE is a lower-cost, better performing product than the petroleum-based modifiers historically used. With $175 billion spent by state and local governments annually for highway construction and maintenance, lower-cost environmental options are sorely needed. POET has the capacity to produce enough JIVE to pave a highway around the world each year.

For more information, visit https://poet.com/asphalt.

Fast Company’s Most Innovative Companies issue (March-April 2019) is now available online, with POET’s ranking at https://www.fastcompany.com/most-innovative-companies/2019/sectors/transportation, as well as in app form via iTunes and on newsstands beginning Feb. 27.

About POET

POET, the world’s largest biofuels producer, is a leader in biorefining through its efficient, vertically integrated approach to production. Started in 1987, the company today has a network of 27 production facilities. POET, through its joint venture with DSM, also operates a commercial-scale cellulosic ethanol plant in Emmetsburg, Iowa. For more information, visit http://www.poet.com.

About Fast Company

Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies and thinkers on the future of business. Since 2011, Fast Company has received some of the most prestigious editorial and design accolades, including the American Society of Magazine Editors (ASME) National Magazine Award for “Magazine Of The Year,” Adweek’s Hot List for “Hottest Business Publication,” and six gold medals and 10 silver medals from the Society of Publication Designers. The editor-in-chief is Stephanie Mehta and the publisher is Amanda Smith. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.