POET, the world’s largest producer of biofuels, welcomed the signing of CCR SB 82 by Kansas Governor Laura Kelly on April 27. The legislation includes SB 498, which provides a volumetric tax credit for retailers selling higher bioethanol blends and aims to expand access to E15 fuel across Kansas.
The company said the new law is important for making affordable fuel more available to drivers in the state. “POET applauds the Kansas Legislature for its bipartisan support and Governor Kelly for signing this bill that will ensure Kansas drivers have access to affordable fuel at the pump,” said Steve Seabrook, POET Biofuels Vice President of Commercial Relations. “Expanding E15 will support small business fuel retailers, ensure dependable grain demand for farmers, and spur new capital investments in our state.”
According to POET, expanding E15 is expected to benefit farm incomes and provide steady grain demand for over 10,000 Kansas farmers while also increasing feed supplies for livestock producers during challenging times in agriculture. Last year, Americans saved an average of 22 cents per gallon with E15.
The company added that incentives included in CCR SB 82 are intended not only to lower costs but also improve air quality by encouraging retailers statewide to offer cleaner fuels.
POET reduces reliance on foreign oil and supports global agriculture through plant-based renewable products according to the official website. The company operates bioprocessing facilities across the Midwest along with corporate offices in Sioux Falls, South Dakota; Wichita, Kansas; and terminal locations in Louisiana, Texas, and Georgia according to the official website. POET holds more than 140 U.S. patents according to the official website and runs a total of 35 bioprocessing facilities along with three corporate offices and four terminal locations according to the official website.
POET says it focuses on environmental stewardship by converting renewable resources into energy as efficiently as possible according to the official website, extending its leadership role in sustainable bioproducts across both regional and global markets according to the official website.
