Multiple Victories Achieved by the Infiniti Red Bull Racing Team With the Total Fuel
ENGLEWOOD, Colo., Oct. 21, 2014 (GLOBE NEWSWIRE) -- Gevo, Inc. (Nasdaq:GEVO), the world's only commercial producer of renewable isobutanol, announced that it is selling renewable isooctane to Total for formulation into Formula 1® racing fuel. The Total racing fuel incorporating Gevo's renewable isooctane is being used by the Infiniti Red Bull Racing team and has achieved Grand Prix victories in Canada, Hungary and Belgium.
Gevo has worked closely with the teams from Total Additives & Special Fuels (Total ACS – www.acs.total.com) and Total R&D who have successfully blended renewable isooctane into Formula 1® racing fuel formulations. Gevo and Total are proud to have enabled this new fuel technology for Formula 1®, and validated it through Total's long standing collaborations with Renault Sport F1 and partner teams.
Isooctane is a valuable gasoline additive, used to increase knock resistance, improve energy density, and lower the RVP (Reid Vapor Pressure) of the finished fuels. Gevo's renewable isobutanol from Luverne, MN, is being converted into bio-isooctane at its biorefinery at South Hampton Resources, where Gevo also produces its renewable jet fuel and para-xylene.
Bruno Pahlawan, Managing Director of Total ACS, stated, "By using a renewable bio-hydrocarbon and designing new formulations, we have been able to maximize the energy content from the 100 kg of fuel that the Renault Energy 2014-F1 power unit is allowed to use in each race. Innovation is at the core of our strategy and partnering with innovative companies is a rapid and efficient way to bring more value to our customers, Gevo demonstrates this with their pioneering approach that leverages both fermentation and chemistry to produce products that move the industry forward. Total ACS and Gevo are looking forward to building on this success to include future formulations and product offerings."
"We are very pleased to be working with Total to supply renewable racing fuel for Formula 1®. It's exciting to develop a high performance renewable racing fuel component that can also be utilized in the broader global fuel markets," said Patrick Gruber, Gevo's chief executive officer.
Gevo is a leading renewable technology, chemical products, and next generation biofuels company. Gevo's underlying technology uses a combination of synthetic biology, metabolic engineering, chemistry and chemical engineering to focus primarily on the production and sale of isobutanol, as well as related products from renewable feedstocks. Gevo's strategy is to commercialize biobased 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 first fermentation plant in Luverne, MN.Gevo has also developed technology to produce hydrocarbon products from renewable alcohols. Gevo currently operates its first 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., Total SA and LANXESS, Inc., an affiliate of LANXESS Corporation, among others. Gevo is committed to a sustainable bio-based 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, 2012, as amended, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Gevo.
CONTACT: Media Contact:
Robin PeakGevo, Inc.
T: (720) 267-8632
Mike WillisGevo, Inc.
T: (720) 267-8636