Gevo Files for Environmental Permits in South Dakota for the Net-Zero 1 Project
August 26 2021 - 9:00AM
Gevo, Inc. (NASDAQ: GEVO) is pleased to announce
that the air quality and wastewater permit applications for the
company’s Net-Zero 1 project have been filed with the South Dakota
Department of Agriculture & Natural Resources.
"These permit applications are on schedule and represent the
first of the permits necessary for the construction of Net-Zero 1,”
commented Dr. Chris Ryan, Gevo’s President and Chief Operating
Officer. “We are happy to work closely with Pinnacle Engineering, a
world-class engineering firm known for specializing in
environmental permitting, to draft our permits. These combined
efforts are focused on minimizing environmental impact and
establishing the lowest CI (Carbon Intensity) score possible,"
continued Dr. Ryan.
“It’s a pleasure to work with the Gevo team and we look forward
to our continued collaborations on this exciting project,” stated
Steve Schleicher, Pinnacle Engineering, Partner and Vice President,
Industrial Services.
About Gevo
Gevo’s mission is to transform renewable energy and carbon into
energy-dense liquid hydrocarbons. These liquid hydrocarbons can be
used for drop-in transportation fuels such as gasoline, jet fuel
and diesel fuel, that when burned have potential to yield net-zero
greenhouse gas emissions when measured across the full life cycle
of the products. 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, resulting in low-carbon fuels with
substantially reduced carbon intensity (the level of greenhouse gas
emissions compared to standard petroleum fossil-based fuels across
their life cycle). 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 problems of 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 enabling the use of a variety of low-carbon sustainable
feedstocks to produce price-competitive low-carbon products such as
gasoline components, jet fuel and diesel fuel yields the potential
to generate project and corporate returns that justify the
build-out of a multi-billion-dollar business.
Gevo believes that the Argonne National Laboratory GREET model
is the best available standard of scientific-based measurement for
life cycle inventory or LCI.
Learn more at Gevo’s 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 such as, without
limitation, statements regarding Pinnacle Engineering; the Net-Zero
1 project, including the permits necessary for the Net-Zero 1
project, whether Gevo will receive the permits, Gevo’s ability to
produce products with a “net-zero” greenhouse gas footprint; Gevo’s
plans and strategy 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, 2020, 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+1
720-647-9605IR@gevo.com
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