At POET, we produce fuel. We also produce feed. We produce corn oil, liquefied carbon dioxide, fiber and more. Our biorefinery model continues to evolve into a more diverse range of products, and as we grow, so does our reach in each American’s life.
That reach is one of the most humbling and exciting things about working at POET. Today, more than ever before, we are in the “people business,” and the importance of what we do for our nation and the world is what keeps me going each day.
As CEO, I keep in mind that POET has the honor to impact many different stakeholders. They include:
• Team members
• Board members
• Business partners
All these groups have an important role to play in making POET a success.
We have more than 1,600 team members who make our business go each day. POET is no more and no less than the people who comprise it, and as such it is important that we choose the right people to be on our team and give them the tools they need to succeed.
We work hard to stay on top of the needs of all our team members, and a recent company-wide engagement survey showed us that we are above average in team member satisfaction. That’s not to say there isn’t room to improve, so we continue to take results such as these and work to implement strategies to improve the work experience at POET.
Of course the end user of our products is another important group. We continue to grow the business and reach more end users through efforts such as our corn oil marketing and export work and new markets such as fiber. POET is focused on continued growth to expand access to renewable products for people around the world.
The third group, shareholders, is in this with us, and we focus on creating value for them and effectively communicating the direction of our business and the markets in which it operates.
Our board members comprise a group that helps determine the direction of each plant within the larger POET and industry efforts. We work with board members to advance our mission, and we leverage their expertise often.
Next is farmers, a group of people who helped birth this industry and who continue to keep it vibrant by employing world-leading farming practices that feed our biorefineries while still feeding the world. There is an incredible synergy between the POET plants and the farmers who provide our feedstock, and together we continue to advance both agriculture and biofuels technology to meet the needs of society and the land.
Then there are the communities where POET resides. These plant communities have always been valuable partners in making our business successful, and I know that they value the jobs and economic boost provided by new rural business. The impact that ethanol has had on rural America is one of the greatest successes for our industry. Whether through charity endeavors, assistance for local schools or special events, such as the Lifelight Christian music festival in South Dakota, we always look for opportunities to give back to the communities.
Finally, I always keep in mind the important relationship we maintain with other businesses, whether it is equipment providers, enzyme manufacturers or collaborations such as the POET-DSM joint venture to commercialize cellulosic ethanol or our industry work with Growth Energy. Ours is not a business that can operate in a vacuum, and staying engaged with the larger business community is important.
In any one day, our stakeholders come to the forefront of my mind. In producing renewable fuel and renewable products, POET touches so many people. And in turn, each of those people has an important role to play in making POET successful. Whether you are an ethanol producer, a consumer, a shareholder, a board member, a farmer, a community member or part of a complementary business, your support of POET and the ethanol industry keeps us strong. Thank you for what you have done, and please stay active in your support. Together we’ll continue to change the world.