Gevo, Inc. (NASDAQ:GEVO), announced today that it has entered into
an agreement with Clariant Corp., one of the world’s leading
specialty chemical companies, to develop catalysts to enable Gevo’s
ETO technology. As previously disclosed, Gevo’s ETO technology,
which uses ethanol as a feedstock, produces tailored mixes of
propylene, isobutylene and hydrogen, which are valuable as
standalone molecules, or as feedstocks to produce other products
such as diesel fuel and commodity plastics, that would be drop-in
replacements for their fossil-based equivalents.
Underpinning the ETO technology was Gevo’s invention of
proprietary mixed metal oxide catalysts that produce polymer grade
propylene or high purity isobutylene, along with hydrogen in high
yields in a single processing step from conventional fuel grade
specification ethanol. Clariant is committed to the development and
scale-up of the catalyst, which is expected to continue the
advancement of the ETO technology, while Gevo focuses the majority
of its internal resources on the ongoing optimization of its core
isobutanol technology. Once the ETO technology has been
successfully developed and scaled-up, Clariant will be in a
position to produce quantities of the catalyst needed to meet
commercial production requirements. As with its isobutanol
technology, Gevo anticipates growing its ETO business through
licensing.
Gevo has filed a series of patent applications related to this
technology. The ETO technology has the potential to provide the
estimated 25 billion gallon global ethanol industry a much broader
set of end-product market and margin opportunities, beyond the use
of ethanol as a gasoline blendstock. It has the potential to
address a variety of markets in the chemicals and fuels fields,
such as automobile parts, packaging, durable goods made of plastic,
renewable diesel fuel and renewable hydrogen for the chemical,
energy and fuel cell markets.
"We see the opportunity for Clariant catalysts to convert
ethanol, produced from cellulosic or other carbohydrate sources,
into more value-added products to create greater growth potential
for the ethanol industry," said Stefan Brejc, Head of Specialty
Catalysts Business Segment at Clariant.
"We are pleased to be working with Clariant. They have
tremendous capability and know-how to scale-up developmental,
customized catalysts to enable commercialization of new,
large-scale processes. We see the potential with this technology to
address several major opportunities cutting across chemicals,
plastics, fuels and hydrogen," said Dr. Patrick Gruber, Chief
Executive Officer of Gevo.
About Gevo
Gevo is a leading 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 biobased
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, Minn. 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.
About Clariant AG
Clariant’s Catalysts business unit is a leading global developer
and producer of a broad portfolio of catalysts for industrial
processes. It has been part of the Catalysis business area of the
Clariant Group since the acquisition of Süd-Chemie in 2011.
Clariant Catalysts operates globally with a local focus.
Headquartered in Munich, Germany, it has a total of 18 production
sites, 14 sales offices, and 12 R&D and technical centers
around the world. Approximately 1790 employees serve
customers across all regional markets. Clariant has over 50 years
of extensive experience in transforming laboratory recipes
into full-scale production processes. Its state-of-the-art
production facilities and decades of know-how enable customers to
scale-up, while also maximizing value and protecting customer
IP.
Creating Performance Technology® is the philosophy at the heart
of the Catalysts business, combined with the Performance, People,
Planet core values of Clariant. Reflecting these principles,
Clariant’s innovative catalysts and adsorbents deliver significant
and sustainable value to customers by enabling higher production
throughput, and lower energy consumption, while reducing hazardous
emissions from industrial processes and combustion engines.
Clariant’s catalysts and technologies also enable the use of
alternative feedstock, such as biomass, as raw materials for
chemical and fuel production. In doing so, Clariant Catalysts
addresses the global challenges of raw material scarcity, energy
efficiency, and responsible care for the environment.
www.clariant.com/catalysts
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 that are not purely
statements of historical fact, including, without limitation,
statements related to the ETO technology, the commercialization of
the ETO technology, and the ability of Clariant to develop and
scale-up catalysts for the ETO technology. 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, 2015
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 Contact
David Rodewald
The David James Agency, LLC
+1 805-494-9508
gevo@davidjamesagency.com
Investor Contact
Shawn M. Severson
EnergyTech Investor, LLC
+1 415-233-7094
shawn@energytechinvestor.com
@ShawnEnergyTech
www.energytechinvestor.com
Clariant Global Trade Media Relations
Stefanie Nehlsen
+41 61 469 63 63
stefanie.nehlsen@clariant.com
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