Airline Virgin Australia Hits 1 Million Kilometer Milestone Flying Gevo’s Sustainable Jet Fuel
June 17 2019 - 9:00AM
Gevo, Inc. (NASDAQ: GEVO) announced today that Virgin Australia has
used Gevo’s Sustainable Aviation Jet Fuel (SAJF) to power 1 million
kilometers of flights, for all aircraft operating in and out of
Brisbane Airport when the fuel was put through the general fuel
supply system. This marks another important step for Virgin
Australia towards building a supply-chain for the long-term
commercial use of Gevo’s SAJF in Australia to lower greenhouse gas
emissions.
Since the first container of SAJF was delivered
to Brisbane back in August 2018, Virgin Australia has continued to
work with Gevo and has welcomed three more deliveries of the SAJF
since this time.
Virgin Australia Chief Legal and Risk Officer,
Dayna Field, said the one million kilometers flown represents an
important milestone and demonstrates that this low carbon product
can go the distance. “Virgin Australia is proud to have led this
initiative in Brisbane, as it has been an important step in
promoting the use and production of sustainable aviation fuels in
our region.” “We are actively looking at ways to reduce our carbon
emissions and low-carbon fuels present a real opportunity. As a
diversified airline group, we know that establishing a local
low-carbon fuel industry will have positive environmental, social
and economic impacts,” she said.
Patrick R. Gruber, the Chief Executive Officer of Gevo, Inc.,
commented, “We are pleased to be working with Virgin Australia to
get our de-fossilized, sustainable jet fuel into the Australian
air. We appreciate the efforts of all the project partners, the
Queensland Government, the Brisbane Airport, Caltex and DB Schenker
who have all tirelessly worked to commence the transformation of
the Australian jet fuel supply chain. This is a very good milestone
which demonstrates the potential for the future.”
About Gevo
Gevo is a next generation “low-carbon” fuel
company focused on the development and commercialization of
renewable alternatives to petroleum-based products. Low-carbon
fuels reduce the carbon intensity, or the level of greenhouse gas
emissions, compared to standard fossil-based fuels across their
lifecycle. The most common low-carbon fuels are renewable fuels.
Gevo is focused on the development and production of mainstream
fuels like gasoline and jet fuel using renewable feedstocks that
have the potential to lower greenhouse gas emissions at a
meaningful scale and enhance agricultural production, including
food and other related products. In addition to serving the
low-carbon fuel markets, through Gevo’s technology, Gevo can also
serve markets for the production of chemical intermediate products
for solvents, plastics, and building block chemicals. 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 Virgin
Australia, whether Virgin Australia will use or purchase Gevo’s
SAJF in the future, 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, 2018,
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.
Investor and Media Contact
Shawn M. Severson Integra Investor Relations +1 415-226-7747
gevo@integra-ir.com |
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