ENGLEWOOD, Colo., Sept. 12, 2018 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) announced today that Gevo and Virgin Australia Airlines, with the support of the Queensland Government, have accomplished another industry first by being the first to supply renewable jet fuel into a commercial airport infrastructure in Australia. Like the Fly Green Day at Chicago O’Hare International Airport in 2017, Gevo’s renewable jet fuel was supplied using the general fuel system at Brisbane Airport. Gevo’s renewable jet was used to fuel approximately 195 domestic and international flights departing from the Brisbane Airport this week. In October 2017, Gevo announced the collaboration with Virgin Australia that culminated with the flights this week using Gevo’s renewable jet fuel.
Virgin Australia issued its own press release on September 11, 2018 that can be found at https://newsroom.virginaustralia.com/release/virgin-australia-leads-australian-first-delivery-sustainable-aviation-fuel-brisbane-airport.
In the Virgin Australia press release, Virgin Australia Airlines Group Executive, Rob Sharp, said the airline was proud to lead the delivery of sustainable aviation fuel into the fuel infrastructure at Brisbane Airport.
Mr. Sharp stated, “Virgin Australia is leading the way in the production and use of sustainable aviation fuel in Australia. We recognise that there is a great opportunity to develop a thriving sustainable fuels industry, which will help to reduce emissions and drive investment and jobs growth in Australia. The successful completion of the trial at Brisbane Airport is the first important step in ensuring Australian airports and the fuel supply chain will be ready for the regular supply of sustainable fuels in Australia.”
“We would like to thank the Queensland Government and our partners for their involvement and look forward to fueling more flights departing from Brisbane Airport with biojet over the next 12-18 months,” Mr. Sharp said.
The Virgin Australia press release continued with comments from the Queensland Premier, the Hon Annastacia Palaszczuk. She said she was pleased with the work that had been undertaken with the trial to progress developing a local biofuels industry in Australia.
“This is another step forward in a homegrown biofuels industry - one that my government is supporting. Our own biofuels producers have a ready customer in Virgin Australia and I look forward to their co-operation growing,” Premier Palaszczuk said.
Patrick R. Gruber, Chief Executive Officer of Gevo, offered his congratulations and commented on the potential of renewable resource-based jet fuel produced in Queensland. “Congratulations to Virgin Australia and the Queensland Government for their vision and leadership. Gevo recognizes that Australia, and Queensland, in particular, have great potential to produce renewable low-carbon jet fuel from a variety of raw materials. The establishment of production capabilities for renewable jet fuel in Australia would not only be good for economic growth, leveraging the abundant raw materials, but more importantly it could lead to domestic jet fuel production which could reduce Australia’s dependence on imported jet fuel. We look forward to continuing to work with Queensland, Virgin Australia, feedstock suppliers, and other partners in Australia to make Queensland-based production of renewable jet fuel a reality,” said Patrick R. Gruber, Chief Executive Officer of Gevo.
Gevo is a next generation “low-carbon” fuel company focused on the development and commercialization of renewable alternatives to petroleum-based products, including isobutanol, jet fuel and isooctane. 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.
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 production of Gevo’s renewable jet fuel in Australia; whether more flights using Gevo’s renewable jet fuel will occur in Australia; 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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