SIOUX FALLS, SOUTH DAKOTA, US — Biofuel producer POET has announced it will adopt Farmers Business Network’s (FBN) Gradable grain origination and carbon-scoring sustainability tech platform at all 33 of its ethanol bioprocessing facilities. The partnership will create the world’s largest integrated infrastructure to source and sell low-carbon grain for the biofuels supply chain, according to POET.
POET said the new Gradable platform will allow its facilities to track attributes of individual bushels of grain to supply low-carbon fuel markets while providing farmers who grow low carbon crops access to potential new revenue streams. Launched in September 2020, the Gradable platform can track carbon intensity, nitrogen fertilizer data and environmental scores.
“At POET, we have always believed that farmers are the original innovators and stewards of the land,” said Bob Whiteman, chief financial officer of POET Biofuels. “Today, they want to be part of the climate solution, and we want to partner with farmers who share our vision to create a more sustainable world. Gradable is a significant step in combining agriculture, environmental sustainability, and technology to ultimately create even greener bioproducts that will drive a low-carbon future.”
Amol Deshpande, co-founder and chief executive officer of FBN, added, “Gradable is the technology platform that can pave the way for low-carbon food and fuel supply chains because global markets have been waiting for a carbon accounting system that can cost effectively collect, verify, score and track farm level carbon data. The Gradable technology makes it possible to create premium markets for verifiably low carbon grain while ensuring that the farmers who grow low carbon crops are rewarded for their sustainable practices.”
Headquartered in Sioux Falls, POET produces 3 billion gallons of ethanol, 14 billion pounds of distillers dried grains and 975 million pounds of corn oil annually. The company also sources more than 930 million bushels of grain annually from the across the US Midwest region.