Alaska Airlines To Fly on Gevo’s Renewable Alcohol to Jet Fuel
07 Juni 2016 - 10:00PM
Gevo, Inc. (NASDAQ:GEVO), announced that the first two commercial
flights using Gevo’s renewable alcohol to jet fuel (ATJ) are taking
place today originating in Seattle and flying to San Francisco
International Airport1 and Ronald Reagan Washington National
Airport2, respectively.
The event marks a successful step toward new fuels that help
airlines to reduce their greenhouse gas emissions (GHGs). Gevo’s
alcohol to jet synthetic paraffinic kerosene (ATJ-SPK) process
turns its bio-based isobutanol into jet fuel that meets the
requirements of the recently revised ASTM D7566 (Standard
Specification for Aviation Turbine Fuel Containing Synthesized
Hydrocarbons) for up to a 30 percent fuel blend. The two
Alaska Airlines flights today utilized a 20 percent fuel blend.
When compared to other fuel options, Gevo believes that its
renewable ATJ has the potential to offer the most optimized
operating cost, capital cost, feedstock availability, scalability,
and translation across geographies.
Alaska Airlines has been a leader in seeking more sustainable
fuels and these flights are part of the company’s long-term
commitment to its sustainability strategy. Alaska Airlines has been
a partner with Gevo in the commercialization of its ATJ, and has
committed to other initiatives to reduce GHGs, most recently
partnering with Boeing and the Port of Seattle on a $250,000
Biofuel Infrastructure Feasibility Study for Seattle-Tacoma
International Airport.
These two commercial flights represent an important advance in
biofuels for an industry that contributes about 2 percent of the
total GHG emissions worldwide, according to the International Civil
Aviation Organization, a United Nations agency. The agency also
expects growth in air travel worldwide will result in double the
number of passengers and flights by 2030. These additional flights
will dramatically increase jet fuel consumption and GHG
emissions.
“Alaska is committed to doing its part to reduce its carbon
emissions and advancing the use of alternative jet fuels is a key
part of our emission reduction strategy. Gevo’s jet fuel product is
an important step forward, in that it has the potential to be
scalable and cost effective, without sacrificing performance,” said
Joseph Sprague, Alaska Airlines senior vice president of
Communications and External Relations.
“Flying a commercial flight with our jet fuel made from
renewable resources has been a vision of ours for many years, and
it has taken many years of work to get this far. We believe
our technology has the potential to be the lowest-cost, renewable
carbon-based jet fuel, given the efficacy of our technology,” said
Pat Gruber, Gevo CEO. “We look forward to moving forward with
Alaska, and others in the airline industry, to make renewable jet
fuel widely successful as a product that substitutes for fossil
fuels, and ultimately helps to reduce carbon.”
1 – Alaska Airlines Flight 3882 – Alaska Airlines Flight 2
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, Minnesota. Gevo has also developed
technology to produce hydrocarbon products from renewable alcohols.
Gevo currently operates a biorefinery in Silsbee, Texas, 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.
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 which include statements relating to the two commercial
flights scheduled for later today, Gevo’s renewable ATJ and capital
costs, operating costs and scalability of production operations for
Gevo’s ATJ, 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 and the
company cannot provide any assurance that its efforts will result
in the company pursuing any potential strategic or financial
alternative or that such an alternative, if pursued, will be
completed. 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, 2015,
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.
Gevo Media Contact
David Rodewald
The David James Agency, LLC
+1 805-494-9508
gevo@davidjamesagency.com
Gevo Investor Contact:
Shawn M. Severson
EnergyTech Investor, LLC
+1 415-233-7094
shawn@energytechinvestor.com
Gevo (NASDAQ:GEVO)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Gevo (NASDAQ:GEVO)
Historical Stock Chart
Von Jul 2023 bis Jul 2024