DES MOINES, Iowa (AP) — South Dakota-based ethanol company POET has purchased the biofuels assets of Flint Hills Resources, including five ethanol plants in Iowa and one in Nebraska.
The deal announced Tuesday also includes ethanol distribution terminals in Texas and Georgia.
POET, based in Sioux Falls, South Dakota, is increasing its production to 33 biofuels production plants in eight states and will have a capacity to produce 3 billion gallons annually. The Iowa ethanol plants are in Arthur, Fairbank, Iowa Falls, Menlo and Shell Rock. The Nebraska plant is in Fremont, and the ethanol terminals are in Buda, Texas, and Camilla, Georgia.