Gevo Supplies Avfuel with Sustainable Aviation Fuel for Aircraft headed to the Business Aviation Convention & Exhibition in L...
October 07 2019 - 9:00AM
Gevo, Inc. (NASDAQ: GEVO) a leading renewable fuels and chemicals
manufacturer, announced today it has supplied sustainable aviation
fuel (SAF) to further support carbon neutrality goals in the
aviation industry.
Gevo’s customer and global fuel supplier, Avfuel Corporation,
has partnered with fixed-base operator, Avflight Salina at Salina
Regional Airport (KSLN) and Henderson Executive Airport (KHND) to
provide sustainable aviation fuel (SAF) for aircraft headed to
general aviation’s largest tradeshow: Business Aviation Convention
& Exhibition (BACE).
Avfuel will supply a blend of Gevo’s SAF to Avflight to fuel
operators headed to Las Vegas, Nevada beginning October 17.
Avflight has commitments by high-profile manufacturers— Embraer,
Textron Aviation and Dassault —to fuel with the sustainable product
en route to BACE as well as from other private operators.
Avfuel Corporation will be flying their sales team to and from Las
Vegas on SAF, refueling at KSLN and KHND.
“Avfuel is doing a great job with these demonstrations. They are
important because they show the viability of SAF, express to
corporations that they have a choice when flying their corporate
jets as well as educates other fixed based operators what is
possible in what they provide their customers,” stated Patrick
Gruber, Chief Executive Officer of Gevo.
To supply the fuel for this occasion, Avfuel acquired a
concentrated delivery of SAF from Gevo, Inc.—a next-generation
biofuels company—and blended it with petroleum-based jet fuel. This
mixture is then tested for fuel quality and to ensure it meets all
standards associated with jet fuel.
The product has a net benefit to the environment across its
lifecycle. Created from corn starch, for every one million gallons
of the concentrated SAF that is produced, approximately 10 million
pounds of animal feed and protein is sold into the food chain, and
the final jet fuel product burns cleaner, reducing carbon emissions
released into the atmosphere.
About GevoGevo 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 for the production of
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 the Avfuel
demonstration event 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, 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
Shawn M. Severson Integra Investor Relations +1
415-226-7747 info@integra-ir.com |
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