POET to target net-zero carbon emissions by 2050

Biofuels producer recognizes ‘planet urgently needs bolder solutions’ to fight climate change

Sep. 15, 2021 11:00 am

Steam rises from a stack outside the POET ethanol biorefinery in 2019 in Gowrie, Iowa. (Bloomberg)

Sioux Falls, S.D.-based biofuels producer POET announced plans Wednesday to reach net-zero carbon emissions by 2050.

POET also pledged to produce bioethanol that has at least 70 percent less greenhouse gas emissions than gasoline by 2030.

“We recognize that our planet urgently needs bolder solutions and better results if we hope to restore harmony between human and nature and sustain Earth’s fragile balance for future generations,” said Jeff Broin, the founder and CEO of POET, in a news release.

“Now more than ever, it is critical that we embrace the bioeconomy, significantly reduce our dependence on fossil fuels and harvest our energy from the surface of the Earth.”

The biofuels producer has plants across Iowa, South Dakota, Minnesota, Nebraska, Indiana, Michigan and Ohio. It recently acquired five ethanol plants in Iowa from Flint Hills Resources, including ones in Fairbank and Shell Rock.

POET is not the first company to set goals like this. Alliant Energy announced its goal in 2020 to also achieve net-zero carbon emissions by 2050.

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