Gevo and Blocksize Capital Developing Blockchain Technology for Tracking Sustainability of Renewable Products
ENGLEWOOD, Colo., Nov. 05, 2019 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) a leading renewable fuels and chemicals manufacturer, announced today it has signed a Development Agreement with Blocksize Capital, a Leading Distributed Ledger Technology (DLT, commonly referred to as “Blockchain”) company based in Germany.
Originally developed as an underlying branch of the blockchain technology, DLT is an immutable tool that allows tracking of data with a product and the transactions associated with the product. Gevo and Blocksize discovered that it is possible to attach the key metrics for sustainability to gallons of fuel, and therefore enable a “sustainability” assurance that has not yet been seen. The data associated with certain key metrics for measuring sustainability are suitable for being digitized through blockchain and could lead to tokenization or those attributes.
“For years, we have been tracking the sustainability of the farms, and their farming practices, that supply products to our facilities, and we need to continue to do so as we expand. We also track the amount and type of energy used in the production of our products. An end user who buys fuel should be able to simply access the data and know where those gallons originated and what the sustainability profile looks like,” stated Patrick Gruber, Chief Executive Officer of Gevo. “One of the key principles of sustainability is to ‘measure, then improve’. DLT will enable us to sort out what truly is valuable in the end market, assigning the correct value to it, and then set up market mechanisms to share value upstream in the value chain. We want to create a system that rewards the value chain for improving its sustainability. Done right, we should be able to bring some of that value back to the farmer creating rewards for managing sustainability in agriculture. Obviously we’ll target our ethanol, isobutanol, isooctane, and jet fuel first, but this type of tokenization system could be applied to protein and feed, as well as chemicals, and food production too. It isn’t lost on us that this type of Blockchain technology has enormous potential beyond Gevo and its business system. A DLT-based system like the one we are developing with Blocksize is suitable for any type of business that needs to track sustainability attributes using agriculture or forestry to generate raw materials for the production of food, chemicals, feed, and fuels.”
“According to the Stanford Study ‘BLOCKCHAIN FOR SOCIAL IMPACT 2019’ Agriculture is one of the essential areas of impact with several use cases for DLT-based applications. This is because DLT offers plenty of opportunities to track sustainability attributes across the value chain in a more efficient manner, since it has the potential to avoid any “playing of games” related to the key metrics. Making the first step towards building an ecosystem based on DLT for these business systems, opens the door to tokenize the attributes and make them accessible to a broader audience. Very low carbon or net zero-emission renewable fuels are a good place to start the development of these types of software and tools. There is a new financial market developing, and Blocksize Capital, in coordination with micobo as the services provider for the tokenization, is leading the industry in the construction of a liquid and transparent digital assets´ market with a broader investment base. Hence, the potential of the application beyond Gevo’s business system is enormous. We are beyond excited to be the trusted partner to lead the path and open new opportunities for these businesses, along with such a forward-thinking organization as Gevo” stated, Christoph Impekoven, Founder & Managing Director of Blocksize Capital GmbH
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 Blocksize Capital GmbH
Blocksize Capital is one of the leading software and infrastructure service provider for the analysis, management, and trading of digital assets and tokens. Collaborating with micobo, a financial technology provider for tokenization of assets, it is one of the principal financial players in the digital asset´s market, covering the whole value chain with a broad offer of professional services and white label solutions.
In addition to aggregated and quality-assured price data, the company also supplies software solutions for efficient and legally compliant trading and analysis as well as professional services related to digital assets for several international and cross-industry enterprises. Learn more at our website: www.blocksize-capital.com
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 agreement between Gevo and Blocksize Capital, including Gevo’s ability to execute on measuring sustainability in its operations and products and its ability to create value therefrom 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, 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.
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