Judge Issues Temporary Order: Gevo to Continue Startup of Its Luverne Plant as Planned
13 June 2012 - 11:09PM
Business Wire
Gevo, Inc. (NASDAQ: GEVO), a leading renewable chemicals and
next-generation biofuels company, issued today a public statement
in reaction to a temporary order issued by the U.S. District Court
of Delaware requesting that the company “maintain status quo” until
the Court renders its decision on the pending request for a
preliminary injunction.
“In light of our recent startup and Gevo’s ability to bring
commercial scale isobutanol to market, we respect the judge’s
decision to issue an order instructing Gevo to maintain the status
quo. As the judge has not made a decision for or against the
preliminary injunction to date, it’s understandable that she wants
to make sure Gevo sticks to its current business plan. For Gevo,
that means we continue to optimize Luverne operating parameters,
continue engineering work and preparation for construction of
Redfield and most importantly we sell our renewable isobutanol to
Sasol and the U.S. Air Force.” -- Brett Lund, EVP & General
Counsel for Gevo.
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, 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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