Marine Industry Consortium Confirms Positive Test Results Using Gevo's Isobutanol in Boat Engines
ENGLEWOOD, Colo., Feb. 13, 2015 (GLOBE NEWSWIRE) -- A consortium of leading organizations from the recreational marine industry has completed more than four years of testing Gevo's (Nasdaq:GEVO) renewable isobutanol in marine engines. Thousands of hours of testing showed that isobutanol blends of up to 16.1% can be used in marine engines without deterioration of engine or boat performance. The tests were performed in collaboration with the National Marine Manufacturers Association (NMMA), the American Boat and Yacht Council (ABYC) and several engine and boat manufacturers across the industry. The testing was also supported by The US Department of Energy (DOE), Office of Energy Efficiency and Renewable Energy (EERE), and Argonne National Laboratory (ANL).
The consortium tested many engine technologies from several engine and boat manufacturers, and included measurements of gaseous and particulate engine exhaust emissions, combustion analysis, cold start, run ability, durability and more. No engine exhaust emissions failures, durability issues or run ability issues were experienced during the multi-year test program.
At the Miami Boat Show, Bombardier Recreational Products (BRP) reported the results of the tests and offered media and consumers test rides on a 25 Bay Boat by Crevalle Boats powered by an Evinrude E-TEC G2 300 HP engine. The fuel is a blend of 16.1% of Gevo's isobutanol with gasoline. "Boaters have the opportunity to test how the fuel works first hand at the show, and that's definitely part of the equation in creating interest and demand for this next-generation bio-fuel," said Jeff Wasil, Engineering Manager in Emissions Testing, Certification and Regulatory Development for BRP-Evinrude. "All engines performed very well throughout the testing program. It's great to have a biofuel that is so transparent to engine and boat performance all the while minimizing fuel related issues such as phase separation of water and corrosion."
"This data reconfirms that the properties of isobutanol make it an excellent renewable blendstock for the marine market. We are excited to supply renewable isobutanol for marine and off-road applications and we look forward to growing this market with many of the participants from the consortium," 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 biobased 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.
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 regarding the completion, timing and size of the proposed public offering, Gevo's anticipated proceeds from the offering, and its use of those proceeds 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, 2013, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Gevo.
CONTACT: Media & Investor Contact: Mike WillisGevo, Inc. T: (720) 267-8636 firstname.lastname@example.org