ENGLEWOOD, Colo., June 18, 2018 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ:GEVO) – On June 12, 2018, the Environmental Protection Agency announced the approval of isobutanol at a 16% blend level in gasoline for on-road use in automobiles. Previous to this isobutanol had been approved for on-road use up to a 12.5% blend.
Commenting on the announcement, Patrick Gruber, Chief Executive Officer of Gevo, said “Blends of isobutanol at a 16% level have previously been used for boats and off-road applications. We congratulate Butamax in getting this registration done. We all benefit. 16% blend levels allow more RINS per gallon, high octane, and many other benefits. At Gevo we have been developing the markets for isobutanol containing gasoline, in particular to meet the demand for the “ethanol free” segment of the gasoline market. A 16% blend option will give our customers and partners an option for an even better product for on-road use.”
For more information see: https://www.epa.gov/newsreleases/administrator-pruitt-talks-kansas-farmers and https://www.epa.gov/fuels-registration-reporting-and-compliance-help/epa-registers-isobutanol-blending-gasoline.
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 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.
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 Gevo’s isobutanol, the markets for isobutanol and Gevo’s ability to sell its isobutanol, 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, 2017, 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.
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