Leading US biofuel producer Poet has announced it has signed an agreement with Savannah Marine Terminal (SMT) to acquire its rail-to-container transload facility in Savannah, Georgia.
The acquisition will include all equipment and real estate to operate the grain transload facility, the company said on 3 August.
One of the highest volume container ports in the USA, the Port of Savannah has geographical synergy with several of the company’s key global markets for its animal feed products, POET said.
“Obtaining this transload facility — optimally located in the port of Savannah — will help us better serve our customers all over the world, which is especially important as we face global supply chain challenges,” POET Bioproducts president Greg Breukelman said.
POET said the facility would also strengthen its shipping process.
“This transaction will serve to benefit both entities in our next respective phases of growth,” SMT President and CEO Victor Vanderlugt said.
POET produces 11.35bn litres/year (3bn gallons/year) of bioethanol, 6.3M tonnes/year (14bn pounds/year) of distillers grains, and 442,000 tonnes/year (975M pounds) of corn oil/year and is also the 36th-largest container shipping company, exporting to more than 20 countries around the world with plans for further expansion.
