New Facility and Milestone
POET's new $105 million ethanol production facility in Corning, IA, is the company's 20th production facility and the seventh in the state. With this new facility, the annual production capacity of POET is projected to reach more than 1 billion gallons. POET Biorefining-Corning will produce 60 million gallons of ethanol per year and consume more than 21 million bushels of corn from the area. Formerly known as Broin, POET is considered the largest dry mill ethanol producer in the U.S.