Funding Being Provided Through Department of Energy’s Small Business Voucher Program
ENGLEWOOD, Colo., May 11, 2017 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ:GEVO) announced today that it was selected to collaborate with researchers at the U.S. Department of Energy (DOE) as part of DOE’s Small Business Vouchers (SBV) program.
The SBV program provides funding for DOE’s national laboratories to partner with selected U.S. businesses, enabling these clean technology companies to leverage the laboratories’ technical and intellectual resources. Specifically, Argonne National Laboratory and the National Renewable Energy Laboratory (NREL) received funding to work with Gevo to develop a predictive octane blending model for isobutanol and gasoline blendstocks for oxygenated blending (BOBs). While it is known that isobutanol increases octane when blended into BOBs, the effect is non-linear, and dependent on a BOB’s properties. This project is intended to measure the actual octane effect on finished fuels when blending Gevo’s isobutanol with existing BOBs, obviating the need for blenders to perform these expensive and time consuming tests themselves.
This work is expected to support the investments that Gevo and its value chain partners are currently making to develop BOBs specifically for isobutanol (iBOBs). Isobutanol possesses a range of properties which makes it an ideal blendstock for gasoline such as high energy content, high octane, low water solubility and low volatility. By developing optimized iBOBs to blend with Gevo’s isobutanol, Gevo and its partners can produce high performance finished fuels which can benefit end consumers, as well as provide margin to all participants across the fuel blending value chain.
“Gevo is excited to be collaborating with Argonne and NREL on this project. We believe that expanding the blending of Gevo’s isobutanol will benefit the U.S. by reducing the need for petroleum imports while reducing harmful carbon emissions. We, and our partners, want to ensure that we develop finished gasoline that delivers the highest value to the end-customer. At the same time, we want to make sure that we are taking advantage of the superior properties of isobutanol to develop economical iBOBs that drive the highest margin through our value chain, while still delivering a high quality finished product to the consumer,” said Dr. Patrick Gruber, Gevo’s Chief Executive Officer.
Gevo is a 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, Minnesota. Gevo has also developed technology to produce hydrocarbon products from renewable alcohols. Gevo currently operates a biorefinery in Silsbee, Texas, 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, which include statements relating to the properties of Gevo’s isobutanol and Gevo’s ability to produce high performance finished fuels containing isobutanol, 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, 2016, 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.
David RodewaldThe David James Agency, LLC
Shawn M. SeversonEnergyTech Investor, LLC