ENGLEWOOD, Colo. - November 19, 2012 - Gevo, Inc.
(NASDAQ: GEVO), said today that a decision issued Friday, Nov. 16,
by the U.S. Court of Appeals for the Federal Circuit (Appeals
Court), supports Gevo's position in the patent infringement
litigation with Butamax Advanced Biofuels LLC (Butamax) involving
yeast engineered to produce isobutanol.
The Appeals Court upheld a decision by Judge Sue
L. Robinson of the United States District Court for the District of
Delaware in which she denied a motion for a preliminary injunction
sought by Butamax. In her decision issued June 20, Judge Robinson
stated that the "plaintiff (Butamax) does not hold a valid patent,
nor would the defendant (Gevo) infringe if it did." The Appeals
Court affirmed Judge Robinson's ruling and stated, "Gevo, Inc.
raised a substantial question of validity concerning the asserted
patent (the '889 Patent), a question which Butamax has failed to
show lacks substantial merit."
"In addition to the USPTO rejecting Butamax's
patents and declaring them unpatentable, we now have two judicial
decisions supporting our position that Butamax's '889 patent is
invalid and that we don't infringe upon it," said Brett Lund,
Executive Vice President and General Counsel of Gevo. "If Butamax
persists in moving this case to trial, we are even more confident
that Gevo will prevail, given the decisions in our favor by the
trial court, the Appeals Court, and the USPTO."
The Appeals Court issued its ruling only five
working days after the Court heard oral arguments on the matter.
"The timely decision was important since it thwarts efforts by
Butamax to offset our leadership position in bio-isobutanol and in
establishing a very strong intellectual property portfolio
surrounding our process technologies," added Lund.
About Gevo
Gevo is a leading renewable chemicals and
next-generation biofuels company. Gevo's patent-protected,
capital-light business model converts existing ethanol plants into
biorefineries to make isobutanol. This versatile chemical can be
directly integrated into existing chemical and fuel products to
deliver environmental and economic benefits. Gevo started up its
first commercial isobutanol facility in Luverne, Minn., and has a
marquee list of partners including Coca-Cola, Sasol, and LANXESS,
among others. 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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