GE Aviation Testing 100% Gevo ATJ Fuel
December 11 2017 - 9:00AM
Gevo, Inc. (NASDAQ:GEVO), announced today that GE Aviation had
commenced jet engine combustor component testing with a jet fuel
comprised 100% of Gevo’s renewable alcohol-to-jet fuel (ATJ)
. The testing is being performed as part of the Federal
Aviation Authority’s (FAA) Continuous Lower Energy, Emissions and
Noise Program (CLEEN). CLEEN is the FAA's principal environmental
effort to accelerate the development of new aircraft, engine
technologies, and to advance sustainable alternative jet fuels, in
conjunction with aviation industry leaders such as GE Aviation.
Specifically, this testing is designed to enable
the greater displacement of petroleum-based jet fuel by bio-based
alternative products. Bio-based hydrocarbon fuels have similar
performance characteristics to the petroleum-based fuels used
today, albeit with reductions in particulate matter and other air
quality related emissions. Some bio-based jet fuels, such as Gevo’s
ATJ, have the potential to improve performance, such as providing
greater energy density which translates into better mileage.
GE Aviation is a part of General Electric
Company, and is a world-leading provider of jet engines, components
and integrated systems for commercial and military aircraft.
“GE Aviation’s collaboration with the FAA and
Gevo under CLEEN is an excellent example of our long-standing
commitment to sustainable aviation. Efforts such as this one are
expected to help accelerate the transition from petroleum-based
fuels to more environmentally friendly ones,” said Dr. Gurhan
Andac, Engineering Leader, Aviation Fuels & Additives, GE
Aviation.
“If we are truly going to reduce our greenhouse
gas (GHG) emissions from aviation, we need to be able to replace
larger percentages of petroleum jet fuel with bio-based
alternatives such as Gevo’s ATJ. The future is to replace the whole
barrel of oil with bio-based hydrocarbons that stimulate the
economy, mitigate GHG emissions, draw on abundant resources and
enhance sustainability. We want to thank the FAA and GE Aviation
for their vision in supporting projects like this one,” 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 CLEEN
program, the testing by GE Aviation and the properties and benefits
of Gevo’s ATJ 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 ContactDavid RodewaldThe David James
Agency, LLC+1 805-494-9508gevo@davidjamesagency.com
Investor ContactShawn M. SeversonEnergyTech
Investor+1 415-489-2198 shawn@energytechinvestor.com
Gevo (NASDAQ:GEVO)
Historical Stock Chart
From Aug 2024 to Sep 2024
Gevo (NASDAQ:GEVO)
Historical Stock Chart
From Sep 2023 to Sep 2024