POET Idles South Dakota Plant and 2 Others

POET is a biofuel company based in Sioux Falls. They specialize in bioethanol. They are indeed the world's biggest producer of biofuel.

According to agweb.com POET has announced that they will be idling 3 of their bioprocessing facilities due to last year's growing season and the COVID-19 outbreak. The idled locations include their facilities in Chancellor, SD / Ashton, IA / and Coon Rapids, IA.

POET CEO Jeff Broin stated in a release:

“Across the board, biofuel producers and our partners in the farm community face an unprecedented challenge. From day one of this crisis, we have placed the highest priority on protecting the health and welfare of our workers, partners, and farm suppliers. At the same time, we are working hard to ensure that every biorefinery remains well-positioned to support a strong and swift recovery once daily life returns to normal. That means responding dynamically to shifting conditions and optimizing production, market by market, as the situation evolves over the next few months.”