Gevo to Leverage ValvTect’s Distribution Network of More Than 700 Marinas
ENGLEWOOD, Colo., Nov. 04, 2015 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ:GEVO), has announced that following the recent completion of successful compatibility tests, the company will collaborate with ValvTect, a leading supplier of marine fuel additives, in bringing renewable isobutanol fuel blends to ValvTect branded marinas.
With a distribution network of over 700 marinas, believed to represent more than half of the marinas in the U.S., this collaboration provides Gevo with access to marinas that currently utilize ValvTect additives. In addition, this partnership is expected to open the door for Gevo and ValvTect to continue the expansion into additional marinas, which will look to provide high-performance gasoline blends comprising Gevo’s renewable isobutanol and ValvTect’s additives.
Gevo’s announcement comes after a series of tests were run using clear (ethanol-free) gasoline that was combined with 16 percent isobutanol and ValvTect’s marine fuel additive. The results proved the compatibility of the combination.
When used in marine fuel, the tests indicate that Gevo’s isobutanol provides higher energy content than ethanol blends, prevents moisture absorption and phase separation and reduces engine corrosion. In addition, Gevo’s isobutanol was recently endorsed by the National Marine Manufacturers Association (NMMA). ValvTect marine fuel additives are formulated to improve fuel quality, enhance engine performance and extend engine life.
“We are impressed with the quality of Gevo’s isobutanol fuel blend,” said Marvin Griffin, President of ValvTect. “When combined with ValvTect’s marine fuel additive, you’re looking at a final product that we believe is a superior fuel for boat engines. This is a winning scenario for all parties – ValvTect, Gevo, marinas and boating enthusiasts alike.”
“The Gevo team is extremely pleased with the results of blending our isobutanol biofuel with ValvTect’s marine fuel additive,” said Dr. Patrick Gruber, Chief Executive Officer of Gevo. “The data shows that when used together, these two top-quality fuel products are beneficial to the performance of marine engines. ValvTect is a well-known and trusted brand in the marina market, so the fact that ValvTect is collaborating with Gevo should give marina customers confidence in the reliability of their fuel.”
ValvTect Petroleum Products is the nation's leading supplier of fuel additives to fuel marketers, truck stops, fleets, railroads and the marine industry. ValvTect products are marketed by fuel marketers nationwide that service the fleet, agriculture, off-highway, home heat, and marine markets. Fuel marketers who become certified under ValvTect’s Certified Marketing Programs can market premium fuels specially formulated with ValvTect Products under the Diesel Guard, AgriGuard, ThermoGuard, and ValvTect Marine Fuel brands. For more information, visit www.valvtect.com, e-mail email@example.com or call 1+800.728.8258.
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.
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 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 SEC by Gevo. Certain statements in this press release are based on publicly available published studies conducted by the National Marine Manufacturers Association, marine engine manufacturers, the United States Coast Guard, national laboratories, the United States Department of Energy and others.
Karen Freedman / David RodewaldThe David James Agency, LLC
Mike WillisGevo, Inc.