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LEIPSIC/SIOUX FALLS, SD — Today POET announced its commitment to scale up production of industrial and beverage-grade alcohol at two biorefineries. This will help meet growing demand due to market changes from COVID-19 while creating a new domestic market to boost the ag economy. Industrial alcohol is a fundamental component of products such as cleaning supplies and hand sanitizer. POET is making significant capital investments to enhance operations at its biorefinery in Leipsic, and is in the design phase for modification of a industrial-grade plant in Alexandria, IN that will come online in early 2021.

POET expedited efforts to produce pharmaceutical-grade, alcohol-based hand sanitizer after COVID-19 created an unprecedented spike in demand for sanitation and cleaning products. “People shouldn’t have to choose between protecting the Earth and sanitizing their surroundings. Bio-based sanitizers are made from renewable resources and can replace poisonous synthetic cleaners, made from fossil fuels, in our hospitals and homes, while still keeping us safe by killing harmful bacteria and germs,” said POET CEO Jeff Broin, who founded the company with the mission of preserving the Earth for future generations through the production of biofuels and bioproducts.

“POET corporate offices in Sioux Falls, SD, informed us in June they were evaluating multiple sites in the Midwest for expansion in order to diversify their product line,” Amy Sealts, director of economic development with the PCCIC, said. “The same day we initiated communication and began working with the Village of Leipsic, leadership at POET’s Leipsic facility and our economic development partners at the Regional Growth Partnership to promote and support Leipsic as the best choice for expansion.”

“We’re grateful for the strong support from the Village of Leipsic and the Putnam County Community Improvement Corporation Office of Economic Development,” said Buck Yerdon, POET Director of Investor Relations. “POET has loved being part of the community since 2007 and can’t wait to expand with this new project that will help get cleaner, greener sanitizers out to consumers,”

POET’s all-natural product will grow the volume of cleaner, greener, high-quality alcohol options available to industrial, personal care, and food and beverage consumers. “Our company has always been well poised to quickly make process adjustments in order to meet evolving demand. POET worked around the clock in order to modify our operations and supply frontline workers with high-quality sanitizer in a time of great need, and scaling up our industrial alcohol production presents an opportunity for us to continue to live our mission and produce another environmentally friendly product that consumers are asking for,” said Bob Casper, POET Chief Commercial Officer.

POET is the world’s largest producer of biofuels and has successfully marketed a number of bio-based products including several animal feed solutions, renewable OVERSET FOLLOWS:CO2, and JIVE, an eco-friendly asphalt rejuvenator and modifier.