Gevo’s Wind Towers to Begin Commercial Operation on May 1st
April 29 2020 - 9:00AM
Gevo, Inc. (NASDAQ: GEVO) announced that the two wind turbines that
will supply up to 5.0 MW of fully renewable electricity to Gevo’s
production facility located in Luverne, MN (the “Luverne Facility”)
are being placed into service and will begin delivering energy. The
electricity generated from wind is wired directly to the Luverne
Facility, which is expected to enable the Luverne Facility to
utilize the emissions-free energy to produce fuel in the future
with a lower carbon intensity score under the Low Carbon Fuel
Standard in California.
A special thanks to all who have helped to make this project
possible, including: Juhl Energy, local landowners, City of
Luverne, Rock County, Faith Technologies, First Farmers and
Merchants Bank, Missouri River Energy Services, and GE.
About GevoGevo is commercializing the next
generation of jet fuel, gasoline and diesel fuel with the potential
to achieve zero carbon emissions and address the market need of
reducing greenhouse gas emissions with sustainable alternatives.
Gevo uses low-carbon renewable resource-based carbohydrates as raw
materials and is in an advanced state of developing renewable
electricity and renewable natural gas for use in production
processes. As a result, Gevo is able to produce low-carbon fuels
with substantially reduced carbon intensity (as measured by the
level of greenhouse gas emissions compared to standard petroleum
fossil-based fuels across their lifecycle). Gevo’s products perform
as well or better than traditional fossil-based fuels in
infrastructure and engines, but with substantially reduced
greenhouse gas emissions. In addition to addressing the
environmental problems of fossil-based carbon fuels, Gevo’s
technology also enables certain plastics, such as polyester, to be
made with more sustainable ingredients. Gevo’s ability to penetrate
the growing low-carbon fuels market depends on the price of oil and
the value of abating carbon emissions that would otherwise increase
greenhouse gas emissions. Gevo believes that its proven, patented
technology that enables the use of a variety of low-carbon
sustainable feedstocks to produce price-competitive, low carbon
products, such as jet fuel, gasoline components like isooctane and
isobutanol and diesel fuel, yields the potential to generate
project and corporate returns that justify the build-out of a
multi-billion-dollar business. Learn more at www.gevo.com.
Forward-Looking StatementsCertain 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
production of wind energy from the renewable wind project, Gevo’s
ability and plans to produce renewable fuels at the Luverne
Facility, Gevo’s success in claiming the benefit of a lower carbon
intensity score under the Low Carbon Fuel Standard in California
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, 2019 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 info@integra-ir.com
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