POET, the world’s largest biofuel producer, says it signed a purchase agreement with Savannah Marine Terminal 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 Port of Savannah is one of the highest volume container ports in the U.S.
It also has closer proximity to several of POET’s key global markets for its animal feed products. A release from POET says the facility will strengthen POET’s shipping process, ensuring greater traceability and transparency for its customers, who already expect the best in food safety and quality.
“This acquisition is yet another indicator of our confidence in the future of the bioeconomy,” says POET Founder and CEO Jeff Broin. “We look forward to the opportunities this facility will create to ensure that our growing suite of plant-based bioproducts is available to consumers across the globe.”