ASTM Completes Revision of Standard Specification
April 12 2016 - 7:30AM
Gevo, Inc. (NASDAQ:GEVO), announced today that ASTM International
has now completed its process of approving the revision of ASTM
D7566 (Standard Specification for Aviation Turbine Fuel Containing
Synthesized Hydrocarbons) to include alcohol to jet synthetic
paraffinic kerosene (ATJ-SPK) derived from renewable
isobutanol. As previously announced on March 28, 2016, the
proposed revision passed on the committee ballots, but ASTM still
needed to complete the Society Review, perform a final ballot
tally, and publish the new specification. The ASTM process is now
completed in all respects.
As a result, ASTM International has published
the revision of ASTM D7566 (Standard Specification for Aviation
Turbine Fuel Containing Synthesized Hydrocarbons) on its website
(http://www.astm.org/Standards/D7566.htm) and Gevo’s renewable
alcohol to jet fuel (“ATJ”) is now eligible to be used as a
blending component in standard Jet A-1 for commercial airline use
in the United States and in many other countries around the
globe. Gevo’s ATJ is eligible to be used for up to a 30%
blend in conventional jet fuel for commercial flights.
“We have been eagerly awaiting the completion of
the ASTM approval process. With this significant milestone
achieved, we look forward to making the first test flight with
Alaska Airlines a reality. We fundamentally believe that our ATJ is
one of the most cost competitive bio-based jet alternatives in the
market place, and we anticipate being able to announce further
partnerships across the aviation industry in the near future. Jet
fuel is one of Gevo’s core market segments and this ASTM revision
represents the next step in building a profitable business from
this market vertical,” 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 bio-based 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.
Learn more at our website: www.gevo.com.
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 related to the receipt
and timing of final ASTM International approvals, the timing of
commercial test flights utilizing Gevo’s ATJ, the ability to
develop a profitable business around renewable ATJ, the
characteristics and qualities of Gevo’s renewable jet fuel product
and the potential market for such product 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, 2014,
as amended, and in subsequent reports on Forms 10-Q and 8-K and
other filings made with the U.S. Securities and Exchange Commission
by Gevo.
Media Contact
David Rodewald
The David James Agency, LLC
+1 805-494-9508
gevo@davidjamesagency.com
Investor Contact
Shawn M. Severson
The Blueshirt Group
+1 415-489-2198
shawn@blueshirtgroup.com
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