Lufthansa to Evaluate Gevo's Renewable Jet Fuel
April 22 2014 - 12:00PM
Gevo, Inc. (Nasdaq:GEVO), the world's only commercial producer of
renewable isobutanol, announced today that it has come to an
agreement with Lufthansa to evaluate Gevo's renewable jet fuel with
the goal of approving Gevo's alcohol-to-jet fuel (ATJ) for
commercial aviation use. Lufthansa's testing is being supported
through work with the European Commission.
"ATJ, like the Fischer-Tropsch pathway, has the potential to use
lignocellulosic waste as feedstock, but promises to do so at less
cost than Fischer-Tropsch," said Alexander Zschocke, Lufthansa
Group Senior Manager Aviation Biofuels. Lufthansa is a leader
in the marketplace for alternative fuels.
"By using isobutanol as a renewable raw material for producing
jet fuel, the resulting jet fuel has the mixtures of molecules
typical of petro-based jet fuel making it directly compatible with
engines and infrastructure. Renewable jet embodies the
potential of cleaner, greener, and as we scale up, cost competitive
drop-in fuels," said Patrick Gruber, Gevo's chief executive
officer. "We greatly appreciate Lufthansa's and the European
Commission's support of this effort. Through initiatives like this,
the commercial airlines are seeking to prove out ATJ and move it
towards commercialization. ATJ from Gevo's isobutanol is a clean
burning, homegrown, drop-in jet fuel, and we have a potential route
to deliver aviation biofuels at scale and at competitive
cost."
Gevo's patented ATJ fuel is truly a drop-in fuel, designed to be
fully compliant with aviation fuel specifications and provide equal
performance, including fit-for-purpose properties.
About Gevo
Gevo is a leading renewable chemicals and next-generation
biofuels company. Gevo's patent-protected, capital-light business
model converts existing ethanol plants into bio-refineries to make
isobutanol. This versatile chemical can be directly integrated into
existing chemical and fuel products to deliver environmental and
economic benefits. Gevo has executed initial commercial-scale
production runs at its isobutanol facility in Luverne, Minn.,
constructed in conjunction with ICM, a leading provider of
proprietary ethanol process technology, and has a marquee list of
partners including The Coca-Cola Company, Sasol Chemical
Industries, and LANXESS, Inc., an affiliate of LANXESS Corporation,
among others. Gevo is committed to a sustainable bio-based economy
that meets society's needs for plentiful food and clean air and
water. For more information, visit 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 include statements that are not purely statements of
historical fact, and can sometimes be identified by our use of
terms such as "intend," "expect," "plan," "estimate," "future,"
"strive" and similar words. 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 the company undertakes no obligation to update or revise
these statements, whether as a result of new information, future
events or otherwise. Although the company 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, 2012,
as amended, and in subsequent reports on Forms 10-Q and 8-K and
other filings made with the SEC by Gevo.
CONTACT: Media Contact:
Robin Peak
Gevo, Inc.
T: (720) 267-8632
rpeak@gevo.com
Investor Contact:
Mike Willis
Gevo, Inc.
T: (720) 267-8636
mwillis@gevo.com
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