Argonne National Laboratory and National Renewable Energy Laboratory Receive Funding to Support the Blending of Gevo’s Isob...
May 11 2017 - 9:00AM
Gevo, Inc. (NASDAQ:GEVO) announced today that it was selected
to collaborate with researchers at the U.S. Department of Energy
(DOE) as part of DOE’s Small Business Vouchers (SBV) program.
The SBV program provides funding for DOE’s national laboratories
to partner with selected U.S. businesses, enabling these clean
technology companies to leverage the laboratories’ technical and
intellectual resources. Specifically, Argonne National Laboratory
and the National Renewable Energy Laboratory (NREL) received
funding to work with Gevo to develop a predictive octane blending
model for isobutanol and gasoline blendstocks for oxygenated
blending (BOBs). While it is known that isobutanol increases octane
when blended into BOBs, the effect is non-linear, and dependent on
a BOB’s properties. This project is intended to measure the actual
octane effect on finished fuels when blending Gevo’s isobutanol
with existing BOBs, obviating the need for blenders to perform
these expensive and time consuming tests themselves.
This work is expected to support the investments that Gevo and
its value chain partners are currently making to develop BOBs
specifically for isobutanol (iBOBs). Isobutanol possesses a range
of properties which makes it an ideal blendstock for gasoline such
as high energy content, high octane, low water solubility and low
volatility. By developing optimized iBOBs to blend with Gevo’s
isobutanol, Gevo and its partners can produce high performance
finished fuels which can benefit end consumers, as well as provide
margin to all participants across the fuel blending value
chain.
“Gevo is excited to be collaborating with Argonne and NREL on
this project. We believe that expanding the blending of Gevo’s
isobutanol will benefit the U.S. by reducing the need for petroleum
imports while reducing harmful carbon emissions. We, and our
partners, want to ensure that we develop finished gasoline that
delivers the highest value to the end-customer. At the same time,
we want to make sure that we are taking advantage of the superior
properties of isobutanol to develop economical iBOBs that drive the
highest margin through our value chain, while still delivering a
high quality finished product to the consumer,” said Dr. Patrick
Gruber, Gevo’s Chief Executive Officer.
About Gevo
Gevo is a 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, Minnesota. Gevo has also developed
technology to produce hydrocarbon products from renewable alcohols.
Gevo currently operates a biorefinery in Silsbee, Texas, 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, which include statements relating to the properties of
Gevo’s isobutanol and Gevo’s ability to produce high performance
finished fuels containing isobutanol, 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, 2016, 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
EnergyTech Investor, LLC
+1 415-233-7094
gevo@energytechinvestor.com
@ShawnEnergyTech
www.energytechinvestor.com
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