Gevo’s technology enters new territory in commercialization; it’s simply
different
ENGLEWOOD, Colo.--(BUSINESS WIRE)--Mar. 12, 2012--
Gevo, Inc. (NASDAQ: GEVO), an innovative renewable chemicals and
advanced biofuels company, responded to the latest lawsuit filed by
Butamax™ Biofuels LLC (Butamax) related to U.S. Patent No. 8,129,162
covering a modified Pseudomonas KARI enzyme.
“Butamax’s allegations of patent infringement are unfounded and a
reaction to our recent successes,” said Brett Lund, EVP & General
Counsel at Gevo. “We are on the forefront of commercializing isobutanol.
We specialize in converting existing ethanol plants into biorefineries
to create building block products for the chemical and fuel industries.
Our technology is simply different.”
Gevo asserts that it does not infringe the enzyme claimed in Butamax’s
patent. “Gevo has never and will never use the Pseudomonas KARI enzyme
described in Butamax’s claims,” added Lund. Gevo has developed a
fundamentally different enzyme derived from E. coli, covered under U.S.
Patent No. 8,097,440.
“The USPTO agrees with the position that our E. coli NKR enzyme
is different from Butamax’s Pseudomonas KARI enzyme, because we cited
Butamax’s patent application as prior art when we were awarded our NKR
patent,” said Lund.
“As we’ve advanced, we’ve realized the value of our unique approach to
isobutanol production and our R&D team has developed intellectual
property for every phase of production including protecting own enzyme
pathway. Gevo’s technology offers our customers a unique advantage of
drop-in alternatives in the petro-chemical and advanced biofuel chains.”
“We see this lawsuit as another attempt by Butamax to stall our
significant advances in the commercialization of isobutanol,” continued
Lund. “Our development goals are aggressive so opposition from
competitors is expected. We are on the cusp of starting up the world's
first commercial renewable isobutanol plant in the next several months
using our industry leading technology.”
Since January 2011, the U.S. Patent and Trademark Office has awarded
Gevo five patents as it continues to build its extensive patent
portfolio consisting of more than 300 patents and applications for the
economic production of isobutanol, process innovations and downstream
product applications.
About Gevo
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.
Forward-Looking Statements
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, 2010,
and in subsequent reports on Forms 10-Q and 8-K and other filings made
with the SEC by Gevo.
Source: Gevo, Inc.
Peppercom for Gevo
Media:
Beth E. Starkin, 212-931-6108
bstarkin@peppercom.com
or
Stern
IR for Gevo
Investor:
Sarah McCabe, 267-909-9237
sarah@sternir.com
