;void('');)
Nearly 40 years ago — when we started making bioethanol as a way to create new value from corn in the face of a struggling ag industry — our mission was to ensure that agriculture could someday thrive and remain a viable way of life for farm families and rural communities.
Today, as we once again face low commodity prices, that mission is just as critical now as it was then. But in this ever-evolving ag landscape, there remains one constant: bioprocessing is essential to agriculture’s long-term success. That’s why we continue to advocate for biofuel market expansion and positive policy initiatives on behalf of farmers and biofuel producers every day.
Every year, American agriculture continues to improve. Farmers are consistently becoming more efficient and setting new yield records, and to safeguard the future, we must ensure that demand for corn continues to expand in tandem with ever-increasing yields.
Now, we believe the next major opportunity to expand markets and create value lies in carbon capture and sequestration (CCS).
Regardless of personal political views or thoughts on decarbonization, the marketplace is demanding lower-carbon energy, and biofuel producers like POET must adapt to stay competitive. Capturing our biogenic CO2 will not only help us decarbonize bioethanol to reach low-carbon fuel markets but could also build future markets for CO2 in other applications. Down the road, biogenic CO2 could be combined with green hydrogen made from wind and solar power to produce renewable methane that could heat our homes and businesses.
And that equals more value for every bushel of corn and every acre of land.
Biofuel producers have consistently proven our ability to tackle diverse challenges, from improving energy independence to boosting octane to replacing harmful chemicals in gasoline and improving air quality. Now, as the world embarks on the monumental task of decarbonization, we stand ready with the technology and resources to help make it possible — while unleashing substantial untapped value from bioCO2.
This is no time to stand still while the bioeconomy moves forward without us. That’s why POET has partnered with Summit Carbon Solutions to capture and transport 4.7 million metric tons of CO2 annually from 17 of our bioprocessing facilities. We’re excited to partner with Summit on this historic project, and we believe it can and should go forward in a way that respects the rights of landowners and meets the highest safety standards.
Carbon capture presents a tremendous opportunity to benefit farmers, biofuel producers, and rural communities in participating states. It has the potential to unlock even more opportunities for ag and bioprocessing while strengthening our ability to make a positive global impact. And as we explore innovations like CCS to build the biofuture, we must remember that we all have the same goal: ensuring that agriculture continues to thrive for generations to come.
