Thursday, October 25, 2018
CHANCELLOR, SD (Oct. 25, 2018) – POET welcomed Agriculture Secretary Sonny Perdue, Senator Mike Rounds and U.S. Rep. Kristi Noem to POET Biorefining - Chancellor on Thursday to discuss opportunities to grow U.S. grain demand and expand markets for American-made biofuels. During the visit, representatives from POET and South Dakota ag groups thanked the South Dakota leaders for their ongoing efforts to unlock year-round sales of E15, a 15 percent ethanol blend.
POET CEO Jeff Broin said Perdue, Rounds and Noem, as well as Senator John Thune, were key champions behind President Trump’s recent announcement directing the U.S. Environmental Protection Agency (EPA) to lift outdated federal regulations unfairly blocking sales of E15 by next summer.
“Secretary Perdue quarterbacked a big win, not only for South Dakota farmers and biofuel producers, but also for our nation,” Broin said. “Thanks to Secretary Perdue, and the strong leadership of Senator Rounds, Senator Thune and Rep. Noem, more Americans will have the freedom to choose cleaner, more affordable E15 fuel year-round. POET looks forward to working with Secretary Perdue and our congressional leaders to enact the President’s directive in time for the next summer driving season.”
Nationwide adoption of E15 could boost domestic demand for corn by an additional two billion bushels per year. POET and South Dakota farm leaders also said year-round sale of E15 will continue to drive new investments in rural communities and help protect thousands of jobs across America’s heartland.
“This is a huge win for South Dakota farmers. We have been working to unlock E15 since 2007, and with the help and leadership of Secretary Perdue and the South Dakota delegation we are finally able to capitalize on the year-round E15 market,” said Keith Alverson, Board of Director for the South Dakota Corn Association and farmer from Chester, SD. “Ethanol production plays a big part in South Dakota’s economy, so having access to a market such as E15 is a game changer within the agriculture industry.”
Today, E15 saves drivers up to 10 cents per gallon at the pump. Year-round sales of E15 have the potential to deliver more than $9.5 billion in annual savings for U.S. drivers, according to the Biotechnology Innovation Organization.
POET, the world’s largest biofuels producer, is a leader in biorefining through its efficient, vertically integrated approach to production. The 30-year-old company 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.