Marine Industry Consortium Confirms Positive Test Results Using Gevo's Isobutanol in Boat Engines
February 13 2015 - 9:00AM
A consortium of leading organizations from the recreational marine
industry has completed more than four years of testing Gevo's
(Nasdaq:GEVO) renewable isobutanol in marine engines. Thousands of
hours of testing showed that isobutanol blends of up to 16.1% can
be used in marine engines without deterioration of engine or boat
performance. The tests were performed in collaboration with the
National Marine Manufacturers Association (NMMA), the American Boat
and Yacht Council (ABYC) and several engine and boat manufacturers
across the industry. The testing was also supported by The US
Department of Energy (DOE), Office of Energy Efficiency and
Renewable Energy (EERE), and Argonne National Laboratory (ANL).
The consortium tested many engine technologies from several
engine and boat manufacturers, and included measurements of gaseous
and particulate engine exhaust emissions, combustion analysis, cold
start, run ability, durability and more. No engine exhaust
emissions failures, durability issues or run ability issues were
experienced during the multi-year test program.
At the Miami Boat Show, Bombardier Recreational Products (BRP)
reported the results of the tests and offered media and consumers
test rides on a 25 Bay Boat by Crevalle Boats powered by an
Evinrude E-TEC G2 300 HP engine. The fuel is a blend of 16.1% of
Gevo's isobutanol with gasoline. "Boaters have the opportunity
to test how the fuel works first hand at the show, and that's
definitely part of the equation in creating interest and demand for
this next-generation bio-fuel," said Jeff Wasil, Engineering
Manager in Emissions Testing, Certification and Regulatory
Development for BRP-Evinrude. "All engines performed very well
throughout the testing program. It's great to have a biofuel
that is so transparent to engine and boat performance all the while
minimizing fuel related issues such as
phase separation of water and corrosion."
"This data reconfirms that the properties of isobutanol make it
an excellent renewable blendstock for the marine market. We
are excited to supply renewable isobutanol for marine and off-road
applications and we look forward to growing this market with many
of the participants from the consortium," said Dr. Patrick Gruber,
Gevo's Chief Executive Officer.
About Gevo
Gevo is a leading renewable technology, chemical products, and
next generation biofuels company. Gevo has developed proprietary
technology that uses a combination of synthetic biology, metabolic
engineering, chemistry and chemical engineering to focus primarily
on the production of isobutanol, as well as related products from
renewable feedstocks. Gevo's strategy is to commercialize biobased
alternatives to petroleum-based products to allow for the
optimization of fermentation facilities' assets, with the ultimate
goal of maximizing cash flows from the operation of those assets.
Gevo produces isobutanol, ethanol and high-value animal feed at its
fermentation plant in Luverne, MN. Gevo has also developed
technology to produce hydrocarbon products from renewable alcohols.
Gevo currently operates a biorefinery in Silsbee, TX, in
collaboration with South Hampton Resources Inc., to produce
renewable jet fuel, octane, and ingredients for plastics like
polyester. Gevo has a marquee list of partners including The
Coca-Cola Company, Toray Industries Inc. and Total SA, among
others. Gevo is committed to a sustainable bio-based economy that
meets society's needs for plentiful food and clean air and
water.
Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements relate to a variety of matters, including, without
limitation, statements regarding the completion, timing and size of
the proposed public offering, Gevo's anticipated proceeds from the
offering, and its use of those proceeds and other statements that
are not purely statements of historical fact. These
forward-looking statements are made on the basis of the current
beliefs, expectations and assumptions of the management of Gevo and
are subject to significant risks and uncertainty. Investors are
cautioned not to place undue reliance on any such forward-looking
statements. All such forward-looking statements speak only as of
the date they are made, and Gevo undertakes no obligation to update
or revise these statements, whether as a result of new information,
future events or otherwise. Although Gevo believes that the
expectations reflected in these forward-looking statements are
reasonable, these statements involve many risks and uncertainties
that may cause actual results to differ materially from what may be
expressed or implied in these forward-looking statements. For a
further discussion of risks and uncertainties that could cause
actual results to differ from those expressed in these
forward-looking statements, as well as risks relating to the
business of Gevo in general, see the risk disclosures in the Annual
Report on Form 10-K of Gevo for the year ended December 31, 2013,
and in subsequent reports on Forms 10-Q and 8-K and other filings
made with the SEC by Gevo.
CONTACT: Media & Investor Contact:
Mike Willis
Gevo, Inc.
T: (720) 267-8636
mwillis@gevo.com
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