Sugar Ethanol Bioenergy Int- SIOUX FALLS, SOUTH DAKOTA, US — Looking to expand its presence in southeast US markets, POET, a leading global biofuels producer, has agreed to acquire the Green Plains Inc.'s Obion, Tennessee, US, ethanol plant for $190 million in cash, including an estimated $20 million in working capital.The Green Plains Obion facility was commissioned in 2008.
It has an annual production capacity of 120 million gallons of bioethanol and sits on 230 acres, with ample corn storage and rail infrastructure, POET said in its Aug. 27 announcement. The transaction is anticipated to close during the third quarter of 2025, subject to customary closing conditions and regulatory approvals.
“This acquisition enables POET to produce even more high-quality, American-made biofuels and bioproducts, creating grain markets for our farmers, reducing our dependence on foreign oil and empowering rural communities to play a key role in strengthening the global bioeconomy,” said Jeff Broin, founder and chief executive officer of POET, based in Sioux Falls, South Dakota, US.POET said the Green Plains Obion facility will complement its existing Midwest footprint, growing the company’s portfolio to 35 bioprocessing facilities across nine US states with a combined annual production capacity of 3.1 billion gallons of bioethanol.In addition to bioethanol, POET produces a suite of plant-based bioproducts — including animal feed ingredients, corn oil, bioCO2, and purified alcohol — which are marketed to domestic and international customers.
“We look forward to expanding the POET team to Tennessee as we continue to harness the power of American agriculture and bioprocessing to feed and fuel the world,” Broin said.Green Plains, a biorefining company based in Omaha, Nebraska, US, said the sale reflects its commitment to unlocking value for its shareholders and strengthening its balance sheet.
“We have been actively pursuing opportunities that align with our long-term strategy and support disciplined capital allocation,” said Chris Osowski, CEO of Green Plains. “This divestiture not only demonstrates the strength of our asset portfolio but also enables us to fully retire our junior mezzanine notes, a significant milestone in enhancing our financial flexibility and advancing Green Plains’ carbon reduction strategy.”
