Gevo’s Low Carbon, Renewable Isobutanol Program a Success in Lowering Greenhouse Gas Emissions in Seattle’s Fleet Vehicle...
August 07 2019 - 09:00AM
Gevo, Inc. (NASDAQ: GEVO) announced today the successful completion
of the City of Seattle's Phase I trial pilot of fleet vehicles
utilizing Gevo's low carbon, renewable drop-in isobutanol blended
gasoline to reduce greenhouse gas emissions form its fleet of
vehicles.
The City confirmed they saw 18 metric tons of
carbon reduction during the Phase I pilot trial using Gevo’s low
carbon, renewable fuel and zero adverse effects to their fleet
vehicles.
The trial, initially set to last four months,
focused on the effects of the renewable blended fuel in four
standard combustible engines vehicles. The positive testing results
were quickly realized. All fleet vehicles housed at Seattle's Cedar
Falls Fleet location were moved into the program, monitored by the
on-site maintenance team and used Gevo’s blended fuel. "The
outcome of the trial was overwhelmingly positive. The testing
vehicles saw no adverse effects on their engines, filters, driving
performance, driver satisfaction, nor the existing fuel pipelines.
We are now ready to move to a higher blended fuel and begin Phase
II ahead of schedule." said, Timothy J. Cesarek, Chief Commercial
Officer of Gevo.
Philip Saunders, the City of Seattle's Green
Fleet Manager, continues to support the City's top goals to
reduce emissions by 50 percent by 2025 for the Seattle fleet and be
fossil fuel-free by 2030. To do this, the City is focusing on three
major undertakings: fleet electrification, reduction in fossil fuel
use, and using fossil-free fuels as much as possible. These must
all coincide together to stay on budget and to capture true
environmental benefits. Mr. Cesarek added, "Seattle takes
great pride in being a leader in green fleet management. Phillip
and his team are continuously researching and implementing green
fleet initiatives to reduce the City's greenhouse gas emissions. We
are proud to be a part of this important equation."
Patrick R. Gruber, Chief Executive Officer of
Gevo, said, "This pilot with the City of Seattle has shown
the measurable reduction in pollution with a renewable blended
fuel. Imagine replacing the whole gallon of gasoline with
low-carbon renewable gasoline that has high performance, yet would
reduce pollution and improve air quality more significantly."
About Gevo
Gevo is a next generation “low-carbon” fuel
company focused on the development and commercialization of
renewable alternatives to petroleum-based products. Low-carbon
fuels reduce the carbon intensity, or the level of greenhouse gas
emissions, compared to standard fossil-based fuels across their
lifecycle. The most common low-carbon fuels are renewable fuels.
Gevo is focused on the development and production of mainstream
fuels like gasoline and jet fuel using renewable feedstocks that
have the potential to lower greenhouse gas emissions at a
meaningful scale and enhance agricultural production, including
food and other related products. In addition to serving the
low-carbon fuel markets, through Gevo’s technology, Gevo can also
serve markets to produce chemical intermediate products for
solvents, plastics, and building block chemicals. Learn more at our
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,
including, without limitation, statements related to Gevo’s
collaboration and activities with the City of Seattle as described
in this press release, the attributes of Gevo’s products, 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, 2018,
as amended, 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 ContactShawn M.
SeversonIntegra Investor Relations+1
415-226-7747gevo@integra-ir.com
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