Gevo Supplies Avfuel with Sustainable Aviation Fuel for Banyan Air Service
January 31 2020 - 9:00AM
Gevo, Inc. (NASDAQ: GEVO), a leading sustainable aviation fuel
(SAF) producer, announced today it has supplied SAF to further
support carbon neutrality goals in the aviation industry.
Gevo’s customer and global fuel supplier, Avfuel Corporation,
delivered SAF to Banyan Air Service (KFXE) in Fort Lauderdale,
Florida where they stated that the fuel accounts for a two metric
ton reduction in lifecycle CO2 emissions, furthering sustainability
goals for Banyan Air Service and Avfuel. The fuel was allotted to
operators via commitments prior to its delivery.
“Avfuel continues to work diligently to source, test, blend and
ship Gevo’s SAF which continues to raise the awareness of SAF.
These efforts are important because they show the viability of SAF
and express to corporations that they have a choice when flying
their corporate jets. This education shows other fixed based
operators what they provide their customers,” stated Patrick
Gruber, Chief Executive Officer of Gevo.
“We’re thankful to work with our longstanding partners like
Banyan on sustainability initiatives,” said Joel Hirst, vice
president of sales for Avfuel. “The Banyan team provides
exceptional services and we’re proud to help them provide this
exclusive, environmentally-friendly product—via Gevo as a supply
point—to its customers, once again demonstrating that aircraft can
safely fly with SAF.”
To supply the fuel, Avfuel acquires a concentrated delivery of
SAF from Gevo and blends 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 Gevo
Gevo is commercializing the next generation of gasoline, jet
fuel and diesel fuel with the potential to achieve zero carbon
emissions, addressing the market need of reducing greenhouse gas
emissions with sustainable alternatives. Gevo uses low-carbon
renewable resource-based carbohydrates as raw materials and is in
an advanced state of developing renewable electricity and renewable
natural gas for use in production processes, resulting in
low-carbon fuels with substantially reduced carbon intensity (the
level of greenhouse gas emissions compared to standard petroleum
fossil-based fuels across their lifecycle). Gevo’s products perform
as well or better than traditional fossil-based fuels in
infrastructure and engines, but with substantially reduced
greenhouse gas emissions. In addition to addressing the problems of
fuels, Gevo’s technology also enables certain plastics, such as
polyester, to be made with more sustainable ingredients. Gevo’s
ability to penetrate the growing low-carbon fuels market depends on
the price of oil and the value of abating carbon emissions that
would otherwise increase greenhouse gas emissions. Gevo believes
that its proven, patented technology enabling the use of a variety
of low-carbon sustainable feedstocks to produce price-competitive
low carbon products such as gasoline components, jet fuel, and
diesel fuel yields the potential to generate project and corporate
returns that justify the build-out of a multi-billion-dollar
business. Learn more at www.gevo.com.
About Avfuel
Avfuel provides fuel and services to the global aviation
industry and is the leading independent supplier in the United
States. Established as a supply and logistics company more than 45
years ago, Avfuel is core competent in every aspect that surrounds
the delivery of fuel – from refinery to wingtip. Avfuel combines
global access with personalized service throughout a fueling
network of more than 3,000 locations worldwide and 650+
Avfuel-branded dealers. Our 100% dedication to aviation
demonstrates our passion and commitment to a global community that
prospers on the movement of goods and services around the
world.
Investor and Media ContactShawn M. SeversonIntegra Investor
Relations+1 415-226-7747info@integra-ir.com
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