GROTON, S.D. (AP) – Investors of an ethanol plant in northeastern South Dakota will soon decide whether to merge with parent company POET Biorefining LLC.
POET Biorefining LLC President Jeff Lautt tells the Aberdeen American News that officials recently discussed a potential merger with investors in the POET ethanol plant near Groton. He says investors at 19 other individual POET sites have already voted in favor of merging with the parent company.
Lautt says POET facilities have operated as individual business units in the past. He says a merger would allow the facilities to leverage benefits, gain access to capital for growth, diversify their portfolios and increase investor liquidity.
POET currently operates 26 plants and a research center across seven states. Seven POET facilities haven’t yet decided whether to merge with the parent company.
