Broin meaning
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Q & A: Jeff Broin, POET Founder
Jeff Broin has stirred the ethanol industry pot like no other. In 1987, the Minnesota farm boy ran a 1-million-gallon plant his family bought in Scotland, South Dakota. A decade later, the business, renamed POET, hit 1 billion gallons. Today, POET rivals ADM as the top U.S. producer. It's one of the first commercial cellulosic ethanol producers, in a joint venture with Royal DSM of the Netherlands.
SF: How important is ethanol to U.S. farmers?
JB: In the early 1980s when my father started looking at producing ethanol on his farm, corn prices were as low as $1.30 a bushel while costing more than two times that much to produce. Not only was there a surplus of grain and low prices, but also there were set-aside acres and storage payments to store corn that there was no market for. From a farmer's perspective, the future of ag looked pretty bleak.
The growth of ethanol over the next 20 years would definitely begin to balance the commodity supplies – not just for the U.S. but for the entire world.
SF: Why are prices falling Jeff Broin is the founder and CEO of POET, the world’s largest biofuel producer. He is a recognized innovator, entrepreneur, agriculturalist, philanthropist, and advocate for the biofuels industry. For more than 35 years, Broin has worked to advance the role of renewable biofuels and bioproducts in addressing national and global issues surrounding agriculture, human health, and climate change. Broin holds a firm, longstanding belief that our world can grow much of what it needs from the surface of the Earth. That mission has grown the biofuels and bioproducts sector – generating demand for America’s farmers, stimulating worldwide economic growth, and positioning agriculture to be a leading solution to the climate crisis. He has received several notable awards and recognition, including BIO’s George Washington Carver Award, the Biofuels Digest Global Bioeconomy Leadership Award, an honorary Doctorate of Public Service from South Dakota State University, and induction into the South Dakota Hall of Fame. Additionally, POET has been named American businessman Jeff Broin Jeff Broin (born August 25, 1965) is the founder of POET, LLC, a leading producer of biofuels and coproducts. He currently serves as chairman and CEO.[1] Broin's family ran a farm in Minnesota. In the early 1980s, Broin's father began producing ethanol on the farm. In 1987, he mortgaged the farm to purchase an ethanol plant in Scotland, South Dakota, and put Jeff in charge of managing it. Jeff became the CEO of Broin Companies, and in 2007 renamed it to POET. It is now the world's largest biofuel producer, with 34 plants.[2] Broin advocates for the biofuels industry and also serves on the board of Growth Energy,[3] the leading biofuel trade association in the country. •
About POET
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Jeff Broin
Born (1965-08-25) August 25, 1965 (age 59) Alma mater University of Wisconsin Employer POET Title Chairman and CEO, POET Board member, Growth Energy Life and career
Awards and recognition
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