Innovators never sit still. That’s continually the case at POET, which has grown to become a global leader in biofuel and sustainable bioproducts.
“POET is a visionary company, and we’re proud that they’re changing their industry and even the world from their home base in Sioux Falls,” said Bob Mundt, president and CEO of the Sioux Falls Development Foundation.
“The career opportunities offered at POET are exceptional, and we’re grateful to them as a broader community partner supporting workforce development and the ingredients it takes to fuel growth in a city.”
Here’s a closer look at the business, courtesy of CEO Jeff Broin.
Business name: POET
Year founded: 1987
Year operations began in Sioux Falls: 1998
Total employees in the Sioux Falls area: 380
CEO/lead executive in Sioux Falls: Jeff Broin
How would you describe your organization to someone not familiar with it?
POET is the world’s largest producer of biofuel and a global leader in sustainable bioproducts, creating plant-based alternatives to fossil fuels that unleash the regenerative power of agriculture and drive value for America’s farm families and rural communities. Founded in 1987 and headquartered in Sioux Falls, POET operates 34 bioprocessing facilities across eight states and employs more than 2,400 team members. With a suite of bioproducts that includes bioethanol, high-quality animal feed ingredients, corn oil, green asphalt rejuvenator, purified alcohol and bioCO2, POET nurtures an unceasing commitment to innovation and develops practical solutions to some of the world’s most pressing challenges.
What are the top three reasons you continue to locate in the Sioux Falls area?
- Its Midwest location provides a strong connection to agriculture and rural values.
- It’s a great place to live and work, attracting top-tier talent and providing access to valuable business resources.
- Sioux Falls is a vibrant, growing community that supports innovative businesses like POET.
What are you most proud of within your business in the past year?
POET continues to prosper and grow on all fronts. We are driving the technology platform for bioethanol production to new heights. We filed numerous new patents, completed over 190 construction projects at our sites and improved efficiency in marketing and logistics across our entire business. Our global feed product and bioCO2 markets continue to grow, and in fact, POET was recently named the 15th-largest container exporter in the United States. Renewable diesel production from soybean and corn oil continues to expand as well, driving demand for another co-product.
We are also proud of the continued expansion of consumer access to E15, allowing drivers nationwide access to affordable, American-made biofuel. This growth reflects the hard work and collaboration across the POET team and directly supports our mission to replace fossil fuels with cleaner, homegrown alternatives.
Lastly, we are proud of the impact made on our many home communities through POET’s Community Grant Program. In 2024, POET donated over $629,000 in grants to various causes and organizations selected by POET team members in Sioux Falls and across our footprint.
What do you see as the biggest challenge facing your business?
The agricultural economy is entering a very difficult time. Ever-increasing grain yields, coupled with stagnant demand, have caused oversupply and low commodity prices. We need Washington to grant year-round E15 to increase grain demand. Expanding the bioethanol industry to meet demand from E15 will be a critical component of improving profitability on the farm and reversing this oncoming ag crisis.
CO2 sequestration will play a significant role in the expansion of the industry. The inability of South Dakota plants to access a pipeline to sequester CO2 will make it difficult for those in our state to expand compared to those in states that have access to CO2 sequestration.
How would you describe the culture of your business in three words?
Vision. Innovation. Purpose.
Why does your business choose to invest in Forward Sioux Falls?
Giving back to the communities we call home is a core part of POET’s mission. We believe in building stronger communities. Forward Sioux Falls fuels growth, innovation and economic opportunity for the entire region — goals that we’re proud to support.
What specific advantages or values have you found to partnering with Forward Sioux Falls and its programs?
The ability to collaborate with local leaders, support workforce development and help shape the future of Sioux Falls makes this partnership truly valuable. Through its programs, we can strengthen the regional business climate and reinforce our shared vision for economic development. The initiatives led by Forward Sioux Falls align closely with POET’s mission to invest in people, support our communities and drive innovative solutions. We share a goal of ensuring that Sioux Falls remains a thriving hub for growth and industry.
What are your expectations for your business in the year ahead?
Many opportunities are on the horizon for POET. The biofuture we envision solves many of our world’s greatest challenges. As we work to move away from fossil-based energy and products, POET will continue to turn innovation into opportunity, finding ways to advance agriculture and improve lives in the U.S. and around the globe by harnessing the power of the sun, the soil and the seed.