On Fly Green Day, Eight Airlines Fly with Gevo’s Jet Fuel from O’Hare
November 08 2017 - 9:00AM
Gevo, Inc. (NASDAQ:GEVO), announced today that its
alcohol-to-jet fuel (ATJ) derived from renewable isobutanol is
being used today by eight commercial airlines for Fly Green Day,
sponsored by the O’Hare Fuel Committee, at Chicago O’Hare
International Airport. This event is the first time renewable
jet fuel has been supplied at Chicago O’Hare using the existing
airport fueling infrastructure, such as pipelines, terminals and
tankage.
To date, airlines and airports have generally relied on
alternative means of supplying renewable jet fuel to the wing,
usually trucking jet fuel on site for blending and fueling. For
today’s Fly Green Day, Air BP blended Gevo’s ATJ with regular
fossil-based Jet A fuel, certified its quality and then supplied
its customers through the airport’s main fuel hydrant system.
Commercial airlines participating in today’s event are:
- Lufthansa
- United Airlines
- Etihad
- Cathay Pacific Airways
- Emirates
- Japan Airlines
- Korean Air
- Atlas Air
“This is the first time we have supplied our customers with
biojet produced from alcohol and demonstrates how we are working
with multiple suppliers to build a leadership position in this
area,” said Air BP’s Chief Executive Officer Jon Platt. “We
anticipate that through this promotion we will inspire more of our
customers to use lower carbon fuels.”
“We are excited to be a part of this project. This is the next
stage in development of our goal to reduce greenhouse gas emissions
and move forward with the full commercial deployment of renewable
jet fuel,” said Thorsten Luft, Vice President Corporate Fuel for
Lufthansa AG.
“This is a significant milestone as we continue
to develop our ATJ platform. We fundamentally believe that our ATJ
is one of the most cost competitive bio-based jet alternatives in
the market place. Leveraging existing supply infrastructure should
lower the full cost to serve our end customers. Jet fuel is one of
Gevo’s core market segments and this represents the next step in
building a profitable business from this market vertical,” said Dr.
Patrick Gruber, Gevo’s Chief Executive Officer.
About Gevo
Gevo is a 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, Minnesota. Gevo has also developed
technology to produce hydrocarbon products from renewable alcohols.
Gevo currently operates a biorefinery in Silsbee, Texas, 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.
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, which include statements relating to the Fly Green Day
at Chicago O’Hare, the cost competitiveness of Gevo’s ATJ and
Gevo’s costs to serve its customers, 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, 2016, 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, LLC+1
415-233-7094gevo@energytechinvestor.com @ShawnEnergyTechwww.energytechinvestor.com
Gevo (NASDAQ:GEVO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gevo (NASDAQ:GEVO)
Historical Stock Chart
From Apr 2023 to Apr 2024