World Fuel to Supply Gevo’s Sustainable Jet Fuel for First of its Kind European Demonstration Event
17 Mai 2019 - 3:00PM
Gevo, Inc. (NASDAQ: GEVO) announced
today that it is supplying its sustainable and renewable
alcohol-to-jet fuel (ATJ) to World Fuel Services
Corporation, for use in business jets at the first ever
European Fueling the Future: SAJF demonstration held at TAG
Farnborough Airport.
Although World Fuel has delivered nearly 17k tons of sustainable
alternative jet fuel (SAJF) to business aviation and over 440k tons
to commercial customers since 2015, this event is a first of a kind
in the general and business aviation sector in Europe
marking Gevo and World Fuel’s entrance into a drop-in
alternative to today’s fossil-based jet fuel. The purpose of
the event is to demonstrate that renewable jet fuel, including
Gevo’s ATJ, can become a mainstream, drop-in alternative for
today’s general aviation aircraft. JET A1, blended with Gevo’s ATJ,
that meet ASTM D1655 and DefStan 91-091 standards will be available
from World Fuel for use at the Farnborough during the event, for
operators to fuel up and fly with Gevo’s sustainable product.
In addition to producing ATJ, Gevo’s production process produces
protein to the animal feed market. For every gallon of ATJ
produced, Gevo also produces approximately 5kgs of
protein and can sequester up to 1kg of carbon dioxide as carbon
into the soil, making it one of the only renewable jet fuels to
produce both food and fuel while sequestering carbon dioxide and
lowering the GHG emissions as compared to traditional fossil-based
jet fuel.
“I like our collaboration with World Fuel, as
it has allowed us to begin to effectively support the
European market and the aviation market goals to
achieve carbon neutrality from 2020 and beyond,” said Patrick
R. Gruber, Gevo’s Chief Executive Officer. Mr. Gruber
continued, “Done right, like we are intending, we believe that
decarbonizing transportation fuels can lead to a better food supply
chain and better agricultural systems. This alliance
with World Fuel helps bring awareness of this
fact to new European customers.”
Mike Szczechowski at World Fuel Services said: “We were an early
supporter of alternative fuel technology, and now an industry
leader in promotion and distribution of SAJF. We invested early and
continue our full support on SAJF to reduce CO2 emissions. While
SAJF is new to business aviation, we all have a responsibility to
help drive its acceptance and utilization. Working with
Gevo’s ATJ to reduced emissions and lower carbon emissions for our
customers, while building knowledge and confidence with this fuel,
which meets all industry standards.”
About Gevo
Gevo is a next generation “low-carbon” fuel company focused
on the development and commercialization of renewable alternatives
to petroleum-based products. Low-carbon fuels reduce the carbon
intensity, or the level of greenhouse gas emissions, compared to
standard fossil-based fuels across their lifecycle. The most common
low-carbon fuels are renewable fuels. Gevo is focused on
the development and production of mainstream fuels like gasoline
and jet fuel using renewable feedstocks that have the potential to
lower greenhouse gas emissions at a meaningful scale and enhance
agricultural production, including food and other related products.
In addition to serving the low-carbon fuel markets, through Gevo’s
technology, Gevo can also serve markets for the
production of chemical intermediate products for solvents,
plastics, and building block chemicals. Learn more at our
website: www.gevo.com
About World Fuel Services Corporation
Headquartered in Miami, Florida, World Fuel Services is a global
energy management company involved in providing energy procurement
advisory services, supply fulfillment and transaction and payment
management solutions to commercial and industrial customers,
principally in the aviation, marine and land transportation
industries. World Fuel Services sells fuel and delivers services to
its clients at more than 8,000 locations in more than 200 countries
and territories worldwide. For more information, call 305-428-8000
or visit www.wfscorp.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 event, European Fueling the
Future: SAJF demonstration held at TAG Farnborough Airport, Gevo’s
ATJ, Gevo’s partnership with World Fuel Services Corporation,
the market and demand for renewable jet fuel, including Gevo’s ATJ,
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, 2018, 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.
Investor and Media Contact Shawn M.
Severson Integra Investor Relations +1 415-226-7747
gevo@integra-ir.com |
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