Poet's new slogan there "Then. Now. Always. Poet." is kind of ironic because Poet
is a new name in biofuels
. It's a rebranding of Broin, a 20-year old company that currently operates 19 production facilities in the United States and markets more than one billion gallons of ethanol
each year. And we can now add a 65-million gallon a yaer ethanol
plant to Poet's empire with the upcoming groundbreaking of a plant that will be built in Marion, Ohio. There will be a ground-breaking ceremony for the new $130 million plant on May 16. The plant will use "21 million bushels of locally grown corn and produce 178,000 tons of premium Dakota Gold Enhanced Nutrition Distillers Products(TM)," Poet says. Poet is eight more ethanol plants in various planning stages.