Gevo Resumes Commercial Production of Isobutanol
18 Juni 2013 - 3:25PM
Gevo, Inc. (Nasdaq:GEVO) today announced that it has resumed
commercial production of isobutanol at its Luverne, Minn. plant in
single train mode, successfully utilizing its proprietary Gevo
Integrated Fermentation Technology® (GIFT®).
"I am pleased to report that we have been successful in
operating our full-scale fermentation and our GIFT® separation
system that separates the isobutanol from the fermentation
broth. This serves to further validate our technology as we
had not previously run the GIFT® system at full scale. I can now
say that it runs beautifully," noted Patrick Gruber, Gevo's Chief
Executive Officer.
Gruber continued, "As you may recall, we had some microbial
contamination in our plant that we have since learned to control
and manage. The fixes included changing the fermentation conditions
and related operating parameters, making equipment modifications to
improve sanitization, and, most importantly, improving our
operating discipline—the procedures we use at the plant.
"We plan to be producing isobutanol and operating throughout the
rest of this year. While we are currently operating a single
production train, we plan on bringing all of our fermenters and
GIFT® systems online in the third and fourth quarters, testing run
rates, then ramping up production and sales in 2013 and 2014,"
noted Gruber.
Gevo will sell the isobutanol it produces, using it for market
development in the specialty chemicals market, the specialty
oxygenated fuel blendstock market, and as a building block to make
jet fuel and chemical products such as paraxylene for PET used in
the production of bottles and fibers.
About Gevo
Gevo is a leading renewable chemicals and next-generation
biofuels company. Gevo's patent-protected, capital-light business
model converts existing ethanol plants into bio-refineries to make
isobutanol. This versatile chemical can be directly integrated into
existing chemical and fuel products to deliver environmental and
economic benefits. Gevo has executed initial commercial-scale
production runs at its isobutanol facility in Luverne, Minn., and
has a marquee list of partners including The Coca-Cola Company,
Sasol Chemical Industries, and LANXESS, Inc., an affiliate of
LANXESS Corporation, among others. Gevo is committed to a
sustainable bio-based 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, 2012,
as amended, and in subsequent reports on Forms 10-Q and 8-K and
other filings made with the SEC by Gevo.
CONTACT: Media Contact:
Steve Halsey
Gibbs & Soell for Gevo
T: (212) 697-2600
shalsey@gibbs-soell.com
Investor Contact:
Chelsea DeLong
PR & Marketing Coordinator
T: (303) 588-6306
cdelong@gevo.com
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