Gevo Filing For Preliminary Injunction Against Butamax
ENGLEWOOD, Colo. - August 6, 2012 - Gevo, Inc. (NASDAQ: GEVO), will file today a motion for preliminary injunction against Butamax(TM) Advanced Biofuels LLC (Butamax) and E.I. du Pont de Nemours and Company (DuPont) (NYSE: DD) to immediately stop ongoing infringement by Butamax and DuPont of a Gevo patent covering the production of isobutanol with genetically engineered microorganisms.
"Isobutanol is an extremely versatile molecule that can be used for production of everything from the gasoline blendstock of the future to jet fuel and from automotive tires to soft drink bottles," said Brett Lund, Executive Vice President and General Counsel. "Because this molecule is so valuable, competitors are infringing on Gevo patents that cover our advanced, low-cost production of isobutanol. Today, we are asking the court to issue a preliminary injunction to halt a particularly egregious ongoing infringement of one of many patents we hold covering our advanced, field-proven, commercial-scale, production technology."
The request for a preliminary injunction involves Gevo's U.S. Patent No. 8,133,715 (the '715 Patent), which covers a production process using isobutanol-producing yeast. Gevo's request for preliminary injunction follows a lawsuit filed March 13, 2012, in the U.S. District Court for Delaware, which alleges that Butamax and DuPont infringe the '715 Patent. Gevo is requesting that the District Court intervene to immediately halt ongoing infringement of the '715 Patent by Butamax and DuPont.
"The '715 Patent covers technology that dramatically improves isobutanol production. It achieves this result by eliminating a pathway in native yeast that 'hijacks' carbohydrates away from the isobutanol pathway," said Lund. "Our scientists discovered and patented the elimination of this competing yeast pathway."
"We are happy to compete in the marketplace - whether with the mega petroleum or chemical industry companies that are currently backing Butamax - or anyone else," said Lund. "However, we expect our competitors to play by the rules and not illegally use our proprietary and patented technology to overcome their own technological deficiencies. That is why we filed a lawsuit in March, and why we are now seeking a preliminary injunction to halt their continued infringement of the '715 Patent."
Gevo is the global leader in developing technology to produce isobutanol using genetically modified microorganisms. Gevo's patent portfolio includes more than 400 patents and patent applications.
Gevo is converting existing ethanol plants into biorefineries to make renewable building block products for the chemical and fuel industries. The Company plans to convert renewable raw materials into isobutanol and renewable hydrocarbons that can be directly integrated on a "drop-in" basis into existing chemical and fuel products to deliver environmental and economic benefits. Gevo is committed to a sustainable biobased economy that meets society's needs for plentiful food and clean air and water. For more information, visit 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 include statements that are not purely statements of historical fact, and can sometimes be identified by our use of terms such as "intend," "expect," "plan," "estimate," "future," "strive" and similar words. 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 the company undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although the company 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, 2011, as amended, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Gevo.
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