POET Bioprocessing gets grant.

The Ohio Rail Development Commission (ORDC) has approved a $50,000 grant for POET Bioprocessing (POET) to support on-site rail expansion at its Fostoria location. POET’s total investment is estimated at $2 million.Founded in 1987 in Scotland, South Dakota, POET has grown to be the world’s largest producer of biofuel. POET’s Fostoria facility opened in September 2008 and currently produces over 90 million gallons of bioethanol annually from 24 million bushels of locally grown corn.