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Name Change Could Boost Ethanol
By Mr Ethanol | April 24, 2007
Grand Haven Tribune:
The name Broin has been a major player in ethanol for decades, but its biorefineries’ varying names have kept them listed separately in industry trade group lists.
With the recent rebranding of Broin Cos. as Poet and the renaming of all of its ethanol plants this past week, the Sioux Falls-based company should soon find itself listed among the big boys.
Poet’s 19 plants across South Dakota, Minnesota, Iowa, Missouri, Indiana and Michigan can produce 950 million gallons of the corn-based alternative fuel each year. When its Corning, Iowa, plant starts up in the next couple of weeks, Poet will exceed a billion gallons in annual capacity, said Jeff Broin, Poet’s president and chief executive officer.
That puts the private company just below agriculture giant Archer Daniels Midland Co., which has an annually capacity of just under 1.1 billion gallons.
The Broin family began experimenting with ethanol production in the early 1980s with a small distillery on their Minnesota farm.
In 1987, the family bought and renovated a foreclosed plant in Scotland.
Broin said he knew ethanol had a future, but the industry’s massive growth during the past two years has been unprecedented.
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