Gevo signs JDA with Land O’Lakes Purina Feed to Pursue Advanced Animal Feed
01 Mai 2012 - 10:34PM
Business Wire
Gevo, Inc. (NASDAQ: GEVO), a leading renewable chemicals and
next generation biofuels company, announced the continuation and
expansion of its relationship with Land O’Lakes Purina Feed LLC, a
wholly-owned subsidiary of Land O’Lakes, Inc., a national,
farmer-owned and agricultural cooperative. The companies signed a
Joint Development Agreement that follows an off-take and marketing
agreement entered into in January 2012. The agreement contemplates
the companies’ research and development efforts to upgrade
isobutanol distiller grains (iDGsTM) for special value-added
applications in animal feed markets.
Kevin Shriver, corporate vice president of Sourcing and
Commodity Merchandising for Land O’Lakes Purina Feed, commented,
“We want to position ourselves as ‘the’ marketer of iDGs™. Our
relationship with Gevo, their technological advancements and
scientific acumen provide a unique opportunity to integrate
sustainable raw materials into our products while positively
improving the quality of our animal feed and bringing better
products to our consumers.”
“Land O’Lakes Purina Feed’s willingness to help develop products
formulated with Gevo iDGs™ provides validation of the potential
opportunities and applications of our high-protein animal feed,”
said Dr. Patrick Gruber, CEO of Gevo. “Our animal feed presents a
unique opportunity for Land O’Lakes Purina Feed to develop new
products with enhanced protein benefits. Land O’Lakes Purina Feed
has consistently led the animal feed industry towards higher
quality products, coupled with its scale and consumer reach, this
agreement creates a wonderful opportunity for our Luverne
operations,” said Gruber.
Gevo also announced today that it has acquired a patent
portfolio developed by AmbroZea, Inc., including U.S. Patent No.
7,309,602 entitled, “Compositions and Methods for Producing
Fermentation Products and Residuals.” The acquired technology
covers compositions and methods designed to increase the value of
animal feed. Working in conjunction with Land O’ Lakes Purina Feed,
Gevo believes this technology could further enhance the value of
its iDGs™ in the animal feed market.
Land O’Lakes Purina Feed has a history with AmbroZea having
committed meaningful resources to AmbroZea’s R&D efforts to
improve the nutritional value of ethanol distiller grains in
ethanol plants several years ago. Gevo’s recent purchase augments
its ongoing initiatives to use bio-engineered yeast to produce
enhanced iDGs™ including high-value amino acids and other
nutrients. This technology compliments Gevo’s existing intellectual
property portfolio of more than 300 patents and applications.
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, 2011,
and in subsequent reports on Forms 10-Q and 8-K and other filings
made with the SEC by Gevo.
Gevo (NASDAQ:GEVO)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Gevo (NASDAQ:GEVO)
Historical Stock Chart
Von Jul 2023 bis Jul 2024