Gevo’s Alcohol to Jet Fuel Meets Approved ASTM Standard
28 März 2016 - 3:00PM
Gevo, Inc. (NASDAQ:GEVO), announced today that ASTM International
Committee D02 on Petroleum Products, Liquid Fuels, and Lubricants
and Subcommittee D02.J on Aviation Fuel passed a concurrent ballot
this week approving the revision of ASTM D7566 (Standard
Specification for Aviation Turbine Fuel Containing Synthesized
Hydrocarbons) to include alcohol to jet synthetic paraffinic
kerosene (ATJ-SPK) derived from renewable isobutanol (the “D02.J
Ballot”).
As previously announced, Alaska Airlines is now
poised to fly the first-ever commercial test flight using Gevo’s
renewable alcohol to jet fuel (ATJ). Gevo is preparing the
shipment of ATJ to Alaska Airlines for this first flight.
Alaska Airlines will work with the Federal Aviation Administration
to schedule the flight using Gevo’s ATJ.
The D02.J Ballot passed two levels of ASTM
technical scrutiny: subcommittee and main committee ballot and is
in the final stages of Society Review. The ASTM process is
substantially complete as it relates to the approval of the D02.J
Ballot. In order to fully complete the process, the ASTM
still needs to close the Society Review, perform a final ballot
tally, and publish the revision of ASTM D7566 (Standard
Specification for Aviation Turbine Fuel Containing Synthesized
Hydrocarbons) on its website. It is expected that these final
actions will be completed by the ASTM in early April.
Once the revision of ASTM D7566 (Standard
Specification for Aviation Turbine Fuel Containing Synthesized
Hydrocarbons) is published by the ASTM, Gevo’s ATJ will be eligible
to be used as a blending component in standard Jet A-1 for
commercial airline use in the United States and in many other
countries around the globe. Gevo’s ATJ would be eligible to
be used for up to a 30% blend in conventional jet fuel for
commercial flights.
“We’re pleased that this newly-revised standard now supports
isobutanol based alcohol-to-jet aviation biofuels and we look
forward to flying it this year. Developing a domestic,
competitively priced, sustainable supply of biofuels is fundamental
to Alaska Airline’s long term sustainability goals,” said Joe
Sprague, Alaska Airline’s Senior Vice President of External
Relations.
Dr. Patrick Gruber, Gevo’s Chief Executive
Officer, commented, “This ASTM revision is a major achievement and
supports one of Gevo’s key products. We believe that Gevo’s
renewable ATJ provides a clear and cost-competitive path for
commercial airlines to reduce their greenhouse gas footprints and
reduce their particulate emissions from combustion. For Gevo, this
step is expected to open a large and significant market to Gevo
around which Gevo expects to build a profitable business.”
About Gevo
Gevo is a leading renewable technology, chemical
products, and next generation biofuels company. Gevo has developed
proprietary technology that uses a combination of synthetic
biology, metabolic engineering, chemistry and chemical engineering
to focus primarily on the production of isobutanol, as well as
related products from renewable feedstocks. Gevo’s strategy is to
commercialize bio-based alternatives to petroleum-based products to
allow for the optimization of fermentation facilities’ assets, with
the ultimate goal of maximizing cash flows from the operation of
those assets. Gevo produces isobutanol, ethanol and high-value
animal feed at its fermentation plant in Luverne, MN. Gevo has also
developed technology to produce hydrocarbon products from renewable
alcohols. Gevo currently operates a biorefinery in Silsbee, TX, in
collaboration with South Hampton Resources Inc., to produce
renewable jet fuel, octane, and ingredients for plastics like
polyester. Gevo has a marquee list of partners including The
Coca-Cola Company, Toray Industries Inc. and Total SA, among
others. Gevo is committed to a sustainable bio-based economy that
meets society’s needs for plentiful food and clean air and water.
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 receipt
and timing of final ASTM International approvals, the timing of
commercial test flights utilizing Gevo’s ATJ, the ability to
develop a profitable business around renewable ATJ, the
characteristics and qualities of Gevo’s renewable jet fuel product
and the potential market for such product 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, 2014,
as amended, 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.
Media Contact
David Rodewald
The David James Agency, LLC
+1 805-494-9508
gevo@davidjamesagency.com
Investor Contact
Shawn M. Severson
The Blueshirt Group
+1 415-489-2918
shawn@blueshirtgroup.com
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