FOR IMMEDIATE RELEASE
Broin is Poet™
Change to Poet™ unifies several entities under new brand
SIOUX FALLS, S.D. (March 29, 2007) – The nation’s largest dry mill ethanol producer changed its name from Broin to Poet ™. The change was made by the company in order to strengthen its communications, unify its several companies under one brand and better reflect its current position. The new name was announced at an event for Poet employees and their spouses in Sioux Falls, S.D.
In addition to witnessing the launch of the new brand, employees were treated to a speech from Neil Armstrong, the first person to set foot on the moon. Similarities between the challenge of space exploration in Armstrong’s day and the challenges faced by the ethanol industry today made him a logical choice to address the gathering. Poet President and CEO Jeff Broin said the country’s push for 35 billion gallons of renewable fuel by 2017 is like saying in 1962 that we want to put a man on the moon by the end of the decade. “Most people were saying that couldn’t be done, but Neil Armstrong proved them wrong,” said Broin. “Poet wants to be the company that proves the naysayers of ethanol were wrong.”
Broin said they wanted a name that would reflect the unique nature of their organization. “We wanted a name that would represent, rather than describe, who we are and what we do,” Broin said. “As a poet takes everyday words and turns them into something valuable and beautiful; we use creativity that comes from common sense to leave things better than we found them.”
In announcing the change, he said, “This company is not about one person. This company is about an unbelievable team of dedicated professionals who work together to change the world we live in. Although I plan to be part of this organization for a long time, I don’t feel that my last name is the best name to take this company through the next generation.”
Additionally, the unification of several separately-named entities under one brand will strengthen each of the pieces, even as they continue to operate independently as before. The several organizations that make up Broin Companies include Broin & Associates, Broin Management, Ethanol Products and Dakota Gold Marketing. “Although having several operating units, working under different identities, has served our organization well for several years,” said Broin, “we will move into the future most effectively as one unified brand rather than as a collection of different brands.” The new names of the entities will be as follows:
Broin Companies – Poet
Broin Management – Poet Plant Management
Broin & Associates – Poet Design & Construction
Ethanol Products – Poet Ethanol Products
Dakota Gold Marketing – Poet Nutrition
Broin Enterprises – Poet Research Center
The change comes during an eventful year for Poet; its twentieth since acquiring its first ethanol production facility in 1987. Early next quarter, a 60 million gallon per year facility will begin operations in Corning, Iowa. The opening of that facility will mark the twentieth plant operated by Poet and bring their total annual production over 1 billion gallons. Last week, Poet announced a site just outside Fostoria, Ohio will be home to the 30th ethanol production facility built by the company.
Poet, the largest dry mill ethanol producer in the United States, is an established leader in the bio-refining industry through project development, design and construction, research and development, plant management, and marketing. Formerly known as Broin, the 20-year old company markets more than one billion gallons of ethanol annually, has built 25 ethanol production facilities in the United States, 19 of which it currently operates, and has six more under construction or in development. For more information, go to http://www.poetenergy.com.