Gevo’s Isobutanol Cleared for Use in On-Road Vehicles in Arizona
May 23 2017 - 9:00AM
Gevo, Inc. (NASDAQ:GEVO), announced today that a bill recently
signed by Arizona Governor Doug Ducey will let gas stations sell
isobutanol-blended gasoline for on-road vehicles, enabling higher
performing finished fuels with renewable content for drivers in the
state.
Bill HB2368 permits isobutanol to be used as an oxygenate in
gasoline for on-road vehicles in Arizona. The new law takes effect
in August 2017. While the law authorizes the use of
isobutanol-blended gasoline for on-road vehicles, Gevo’s isobutanol
is already being sold in Arizona for off-road applications such as
boating, ATVs, motorcycles and landscape equipment.
Isobutanol is an ideal renewable gasoline blendstock because of
its high energy content, high octane, low water solubility and low
volatility. Gevo’s isobutanol meets the ASTM 7862 specification
that covers isobutanol blends with gasoline.
“We’re excited that this bill will open up a new market for our
isobutanol in Arizona. With our distribution partner Musket already
serving marinas, Gevo is ready to take advantage of this new
opportunity to expand isobutanol sales in the state,” 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 and
benefits of Gevo’s isobutanol, the effect of Bill HB2368 on Gevo’s
business and financial prospects and Gevo’s ability to market and
sell isobutanol in Arizona, 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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