CF Industries, POET, and Major Agriculture Co-Operatives Launch Low-Carbon Fertilizer Pilot to Cut Ethanol Production Carbon Intensity

CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, and POET, the world’s largest producer of biofuels, have launched a pilot project with major agriculture co-operatives to jointly develop a low-carbon fertilizers supply chain. The goal of the pilot is to demonstrate how the use of low carbon nitrogen fertilizer can substantially reduce the carbon intensity of corn and enable the production of low carbon ethanol for use in motor fuel and export.

The pilot includes WinField United – the crop inputs and insights business of Land O’Lakes, Inc., one of America’s leading agribusiness and food companies – along with agricultural cooperatives NuWay-K&H Cooperative, NEW Cooperative Inc., and Farmers Cooperative.

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Participants will track the carbon intensity certification of the low-carbon fertilizer produced by CF Industries and sold from its distribution network through retail distribution channels and finally to corn growers across Iowa, Minnesota, Missouri, and Nebraska. POET’s facilities will then utilize the corn produced using lower carbon intensity fertilizer in Minnesota, Iowa, and Nebraska for ethanol production. The consortium successfully completed the first distribution and applications of low-carbon ammonia fertilizer in the fall of 2025.

POET expects to use the corn grown with low-carbon ammonia to produce an estimated 5-6 million gallons of ethanol with lower carbon intensity.

“Fertilizers manufactured with a lower carbon intensity provide a quantifiable and certifiable method of decarbonizing bioethanol inputs,” said Bert Frost, Executive Vice President and Chief Commercial Officer, CF Industries. “We are proud to collaborate with POET, WinField United, NuWay-K&H, New Cooperative, and Farmer’s Cooperative to demonstrate the viability of a low-carbon ethanol value chain that links low-carbon fertilizers to retailers to farmers to ethanol production.”

“At POET, we’re always working to expand markets for farmers and support Midwest economies,” said Christian McIlvain, President of POET Grain. “This trial provides an additional pathway to reduce the carbon intensity of our bioethanol, delivering both environmental and economic benefits for rural communities.”

CF Industries produces low-carbon ammonia at its Donaldsonville Complex by capturing carbon dioxide (CO2) emissions generated by the ammonia production process and then permanently storing it underground. At full capacity, CF Industries is able to produce up to 1.9 million tons of low-carbon ammonia at the site per year, which can meet the fertilizer requirements of up to 19-22 million acres of planted corn.

“Collaborating on this pilot program that aims to build a sustainable supply chain from production to the end user was an immediate yes,” said Paul Barr, Senior Director - Procurement, Operations and Transportation, WinField United Crop Nutrients. “Together with CF Industries and our member-owners, we are driving innovation and growth for the future of agriculture. Our cooperative system has a commitment to environmental stewardship and leadership in low-carbon initiatives, applying best-in-class practices to benefit American farmers and advance agricultural sustainability.”

About CF Industries Holdings, Inc.

At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest –low-carbon hydrogen and nitrogen products for energy, fertilizer, emissions abatement, and other industrial activities. Our manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach to underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the Company’s website at www.cfindustries.com and encourages those interested in the Company to check there frequently.

About POET

POET’s vision is to create a world in sync with nature. What began with a single, humble bioprocessing facility in 1987 has grown into the world’s largest biofuel producer and a global leader in sustainable bioproducts, headquartered in Sioux Falls, S.D. Today, POET’s portfolio comprises 35 bioprocessing facilities, four terminals, three corporate offices, and two international locations, spanning 14 U.S. states and three countries overall. POET is committed to advancing practical solutions to some of the world’s most pressing challenges, with a suite of bioproducts—including bioethanol, animal feed ingredients, corn oil, asphalt rejuvenator, bioCO2, and purified alcohol—that is marketed to an ever-growing base of domestic and international customers. POET exports to over 35 countries worldwide, holds more than 140 patents, and continues to break new ground in biotechnology, yielding innovative, American-made renewable energy and bioproducts.

About WinField United

WinField United is the seed, crop protection products, agricultural services and agronomic insights business of Land O’Lakes, Inc. As an industry leader, the business focuses on meeting the needs of nearly 1,300 locally owned and operated cooperative and independent agricultural retailers and its grower-customers across the United States. Through data-backed, insight-driven agronomics, operational excellence and sustainable solutions delivered under the WinField United brand, the business helps retailers successfully meet farmers’ needs.

About NuWay-K&H

NuWay-K&H Cooperative is a member-owned cooperative supplying agronomy and energy services with particular focus on driving innovation, offering diversified opportunities, and providing exceptional value. Our main office is in Clear Lake, Iowa with our principal place of business in Trimont, Minnesota and additional operations based out of Welcome, Minnesota.

About New Cooperative Inc.

NEW Cooperative Inc. is a farmer-owned cooperative headquartered in Fort Dodge, Iowa, proudly serving over 12,000 members across 80 communities since 1973. Our mission is, “to add value to our members’ farming operations.” We are committed to understanding and adapting to the ever-changing needs of American agriculture by pursuing innovative opportunities, and building a strong, sustainable future together while providing the knowledge, products, and services farming operations require.

About Farmers Coop

Farmers Cooperative, a Dorchester, Nebraska based cooperative is a trusted, member-owned agricultural cooperative dedicated to supporting local farmers and rural communities. With deep roots in southeast Nebraska, the cooperative provides reliable grain, agronomy, energy, and feed services built on decades of experience. Farmers Cooperative remains committed to strengthening agriculture through integrity, innovation, and community partnership.