Gevo, Inc. (NASDAQ: GEVO) The U.S. Department of Energy’s (DOE)
Argonne National Laboratory recently partnered with Gevo, Inc., a
Colorado-based producer of energy-dense liquid hydrocarbons such as
sustainable aviation fuel (SAF) and renewable premium gasoline, to
perform a critical lifecycle analysis of its next-generation
technology.
Using data provided by Gevo, Argonne’s Greenhouse
gases, Regulated Emissions, and Energy use
in Technologies (GREET) Model is expected to yield results
regarding carbon footprints of these fuels within a few months. The
effort is funded by the DOE’s Bioenergy Technologies Office, which
is part of the Office of Energy Efficiency and Renewable Energy
(EERE).
“I am thrilled by this partnership and by the DOE’s investment
in this project,” said Michael Wang, an Argonne Distinguished
Fellow, Senior Scientist, and the Director of the Systems
Assessment Center of the Energy Systems division at the
laboratory. “This is the type of real-world application GREET was
made for.”
GREET’s pioneering lifecycle analysis considers a host of
different fuel production pathways. Results include energy use,
emissions of greenhouse gases and air pollutants, and water
consumption related to the production processes. The analysis also
includes results across the whole of the fuel pathway system, from
capturing carbon via photosynthesis to the final burning of the
fuel.
Uisung Lee, an energy systems analyst in the Systems Assessment
Center of the Energy Systems Division at Argonne, said that “Gevo’s
commitment to reach net-zero carbon emissions with advanced
renewable hydrocarbon fuels, including SAF and renewable premium
gasoline made from field corn—not only in relation to the final
product but in every stage of the production along the entire
supply chain—will show how deep decarbonization of biofuels can be
achieved holistically.”
“Biofuels are low carbon already,” Lee said. “But Gevo
wants it to be net-zero carbon. That’s an ambitious goal and
one that would be a game-changer in the biofuel industry.”
Argonne will examine emissions at every stage of the supply
chain: This “field to aircraft wake” analysis will include each
possible step from production to combustion. “While it might be
impossible to reach zero carbon emissions at every stage,
sustainable farming practices and carbon capture from biofuel
plants and re-use might help the company reach its goal when
measured across the whole biofuel supply chain system,” Wang said.
GREET is unique; it is based on well-developed science and it
allows for adaptation, and, in this way, can accommodate changes
and incorporate new ideas, including those arising in agriculture
and forestry, which are so important to innovation.
“We believe in radical transparency when it comes to
sustainability. It’s incredibly important to have good data, good
models, and use them for decision making, especially when making
choices about technologies across the business system. When we find
a process where we can reduce our carbon intensity, we have to
analyze it, and if it moves us further down the path to our goals,
we try to implement it,” says Dr. Patrick Gruber, Chief Executive
Officer of Gevo, Inc. “The tools that the GREET model provides are
key to our business model. We have used the GREET model as a
guidepost for our process because those benefits are realized in
the resulting analysis. It’s why our plants are expected to operate
on renewable energy, including wind turbines, and why we chose to
integrate renewable biogas into our production system. I expect
that, as we work through the analysis with Argonne’s team, we will
come up with additional great ideas to get our carbon footprint
down even further.”
GREET is constantly being improved: The GREET software provides
users with a ready-use life cycle analysis tool to perform
simulations of alternative transportation fuels and vehicle
technologies in just a few minutes. At present, there are more than
48,000 registered GREET users worldwide.
Wang said that Argonne plans on releasing its findings from this
collaboration soon.
The Office of Energy Efficiency and Renewable
Energy supports early-stage research and development of
energy efficiency and renewable energy technologies to strengthen
U.S. economic growth, energy security, and environmental
quality.
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
Argonne National Laboratory seeks
solutions to pressing national problems in science and technology.
The nation’s first national laboratory, Argonne conducts
leading-edge basic and applied scientific research in virtually
every scientific discipline. Argonne researchers work closely with
researchers from hundreds of companies, universities, and federal,
state and municipal agencies to help them solve their specific
problems, advance America’s scientific leadership and prepare the
nation for a better future. With employees from more
than 60 nations, Argonne is managed by UChicago
Argonne, LLC for the U.S. Department of Energy’s
Office of Science.
The U.S. Department of Energy’s Office of
Science is the single largest supporter of basic
research in the physical sciences in the United States and is
working to address some of the most pressing challenges of our
time. For more information,
visit https://energy.gov/science.
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, without limitation,
including Gevo’s technology, the Department of Energy’s Argonne
GREET model, the production of SAF, the attributes of Gevo’s
products, Gevo’s Net-Zero Project 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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