Gevo Announces Breakthrough Development of Renewable Isoprene, a Key Chemical Building Block for Producing Rubber and Rubber ...
29 January 2019 - 1:00AM
Gevo, Inc. (NASDAQ: GEVO), a leading renewable
fuels and chemicals manufacturer, announced today that it has
developed a proprietary, breakthrough catalytic process that
transforms low-cost commercially available, or even waste
by-product, renewable alcohols into renewable isoprene that would
be expected to compete head-to-head on price with natural and
petroleum-based chemical equivalents while reducing CO2 emissions.
Isoprene is predominantly used in the production
of synthetic-based rubber. The market for isoprene is
estimated to be approximately $4 Billion USD by 2025, growing at a
compound annual growth rate of 7% or greater driven by growth in
the automotive sector.
Gevo recently developed a chemical-based
catalytic process to convert low-value “fusel oils,” a mixture of
alcohols that are byproducts from fermentation processes such as
ethanol production, into renewable isoprene. Fusel oils from
the ethanol industry alone equate to about 2.5 million tons of
potential bio-based waste feedstock.
“Renewable, low-carbon, low-cost isoprene has
been pursued by a lot of companies over the years without
commercial success. Fermentation processes were always deemed
to be too expensive to make isoprene directly. As it turns
out, our catalytic chemistry team and engineers figured out how to
make low-cost, renewable isoprene suitable for the market using a
chemical catalyst that we apply to fusel oils, a mixed, renewable
alcohol stream that is produced as a by-product or even as a waste
during large industrial fermentations such as those in the ethanol
industry. Our team was able to translate what we learned
while developing renewable, sustainable jet fuel and isooctane, to
enable other viable alcoholic feedstocks. I give credit to
our catalytic chemistry team, led by Jonathan Smith, for this
breakthrough. We expect to pursue a licensing strategy with this
technology. Potential licensees could be ethanol producers
that want to improve the profitability of their facilities,
chemical plants that simply want cost competitive low-carbon
isoprene, or even standalone businesses. This is the first
time in my 30 years in this industry where I have seen what I
believe to be a viable route to fully renewable, low-cost
isoprene. I look forward to seeing this one get commercially
developed. It looks as if this technology could address a large
current unmet need in the marketplace and make money,” said Dr.
Patrick Gruber, Chief Executive Officer of Gevo.
About Gevo
Gevo is a next generation “low-carbon” fuel
company focused on the development and commercialization of
renewable alternatives to petroleum-based products. Low-carbon
fuels reduce the carbon intensity, or the level of greenhouse gas
emissions, compared to standard fossil-based fuels across their
lifecycle. The most common low-carbon fuels are renewable fuels.
Gevo is focused on the development and production of mainstream
fuels like gasoline and jet fuel using renewable feedstocks that
have the potential to lower greenhouse gas emissions at a
meaningful scale and enhance agricultural production, including
food and other related products. In addition to serving the
low-carbon fuel markets, through Gevo’s technology, Gevo can also
serve markets for the production of chemical intermediate products
for solvents, plastics, and building block chemicals. Learn
more at our website: 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 relate to a variety of matters,
including, without limitation, statements related to Gevo’s
technology to produce isoprene, Gevo’s cost to make isoprene, the
demand for renewable isoprene, the market for isoprene, including
the size and growth of the market in the future, and other
statements that are not purely statements of historical fact.
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 Gevo undertakes no
obligation to update or revise these statements, whether as a
result of new information, future events or otherwise. Although
Gevo 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, 2017, as amended, and in subsequent reports on
Forms 10-Q and 8-K and other filings made with the U.S. Securities
and Exchange Commission by Gevo.
Investor and
Media Contact Shawn M. Severson Integra Investor Relations
+1 415-226-7747 gevo@integra-ir.com |
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