ENGLEWOOD, Colo., Dec. 11, 2017 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ:GEVO), announced today that GE Aviation had commenced jet engine combustor component testing with a jet fuel comprised 100% of Gevo’s renewable alcohol-to-jet fuel (ATJ) . The testing is being performed as part of the Federal Aviation Authority’s (FAA) Continuous Lower Energy, Emissions and Noise Program (CLEEN). CLEEN is the FAA's principal environmental effort to accelerate the development of new aircraft, engine technologies, and to advance sustainable alternative jet fuels, in conjunction with aviation industry leaders such as GE Aviation.
Specifically, this testing is designed to enable the greater displacement of petroleum-based jet fuel by bio-based alternative products. Bio-based hydrocarbon fuels have similar performance characteristics to the petroleum-based fuels used today, albeit with reductions in particulate matter and other air quality related emissions. Some bio-based jet fuels, such as Gevo’s ATJ, have the potential to improve performance, such as providing greater energy density which translates into better mileage.
GE Aviation is a part of General Electric Company, and is a world-leading provider of jet engines, components and integrated systems for commercial and military aircraft.
“GE Aviation’s collaboration with the FAA and Gevo under CLEEN is an excellent example of our long-standing commitment to sustainable aviation. Efforts such as this one are expected to help accelerate the transition from petroleum-based fuels to more environmentally friendly ones,” said Dr. Gurhan Andac, Engineering Leader, Aviation Fuels & Additives, GE Aviation.
“If we are truly going to reduce our greenhouse gas (GHG) emissions from aviation, we need to be able to replace larger percentages of petroleum jet fuel with bio-based alternatives such as Gevo’s ATJ. The future is to replace the whole barrel of oil with bio-based hydrocarbons that stimulate the economy, mitigate GHG emissions, draw on abundant resources and enhance sustainability. We want to thank the FAA and GE Aviation for their vision in supporting projects like this one,” said Dr. Patrick Gruber, Gevo’s Chief Executive Officer.
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.
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 CLEEN program, the testing by GE Aviation and the properties and benefits of 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, 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.
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