The Coca-Cola Company and Gevo Partner to Develop and Commercialize 100% Renewable Plastic Bottles
15 Dezember 2011 - 5:27PM
Business Wire
Gevo, Inc. (NASDAQ: GEVO), a leading renewable chemicals and
advanced biofuels company, today announced a groundbreaking
agreement with The Coca-Cola Company (Coca-Cola) to create
renewable para-xylene from plant based isobutanol, which will
accelerate the development of Coca-Cola’s second-generation
PlantBottle™ packaging made from 100% plant-based materials. Gevo
will work with Coca-Cola to enable and deliver an integrated system
to produce renewable para-xylene, a key building block towards
reaching Coca-Cola’s goal of creating all of their packaging from
renewable materials. The work will take the technology from
lab-scale to commercial scale and support Coca-Cola’s efforts to
lead the beverage industry away from fossil-fuel based packaging by
offering an alternative made completely from renewable
resources.
“While the technology to make biobased materials in a lab has
been available for many years, we believe Gevo possess technologies
that have high potential to create it on a global commercial level
within the next few years,” said Rick Frazier, Vice President
Commercial Product Supply, The Coca-Cola Company. “This is a
significant R&D investment in packaging innovation and is the
next step toward our vision of creating all of our PET plastic
packaging from responsibly sourced plant materials.”
Coca-Cola identified Gevo as a leader in the race to
commercialize renewable PET following an exhaustive search and
evaluation of technologies from around the world. The global market
for PET is 54 million metric tons and has a value of $100 billion,
with approximately 30% used for plastic bottles. In this next
generation of PlantBottle™ packaging, Coca-Cola plans to produce
bottles entirely from renewable raw materials.
“We are extremely gratified to have won the confidence of The
Coca-Cola Company and are excited to support Coca-Cola’s
sustainable packaging goals with this agreement to develop and
commercialize technology to produce para-xylene from biobased
isobutanol,” said Patrick Gruber, CEO of Gevo. “New technologies
need champions. The Coca-Cola Company is in a unique position to
drive and influence change in the global packaging supply chain
with this development. You cannot ask for a better champion than
one of the world’s most respected and admired consumer brands.”
Isobutanol is a four-carbon fermentation alcohol that can be
converted into para-xylene using known chemical processes.
Para-xylene is a key raw material in PET production. Gevo has
previously announced supplying Japanese chemical giant Toray with
lab-scale quantities of renewable para-xylene. Toray has
successfully converted Gevo’s para-xylene into PET films and
fibers.
About Gevo
Gevo is converting existing ethanol plants into biorefineries to
make renewable building block products for the chemical and fuel
industries. The Company plans to convert renewable raw materials
into isobutanol and renewable hydrocarbons that can be directly
integrated on a “drop in” basis into existing chemical and fuel
products to deliver environmental and economic benefits. Gevo is
committed to a sustainable biobased 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, 2010,
and in subsequent reports on Forms 10-Q and 8-K and other filings
made with the SEC by Gevo.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50108323&lang=en
Gevo (NASDAQ:GEVO)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Gevo (NASDAQ:GEVO)
Historical Stock Chart
Von Jul 2023 bis Jul 2024