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Gevo, Inc. (GEVO)

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Last Post: 2/17/2017 4:17:55 PM - Followers: 216 - Board type: Free - Posts Today: 0

Welcome to Gevo Board 

Nasdaq: GEVO
Contact Info
  • 345 Inverness Drive South
    Building C
    Suite 310
    Englewood, CO 80112
    Phone: (303) 858-8358
Gevo is a leading renewable chemicals and advanced biofuels company. We have developed bio-based alternatives to petroleum-based products using a combination of synthetic biology and chemistry. We produce isobutanol, a versatile platform chemical for the liquid fuels and petrochemicals markets. Isobutanol has broad market applications as a solvent and a gasoline blendstock that can help refiners meet their renewable fuel and clean air obligations. It can also be further processed using well-known chemical processes into jet fuel and feedstocks for the production of synthetic rubber, plastics and polyesters. 

Gevo’s Alcohol to Jet Fuel clears key ASTM hurdle

March 28, 2016 |

BD-TS-Gevo-032916-smFirst commercial test flight with Alaska Airlines comes closer

In Colorado, ASTM International Committee D02 on Petroleum Products, Liquid Fuels, and Lubricants and Subcommittee D02.J on Aviation Fuel passed a concurrent ballot this week approving the revision of ASTM D7566 (Standard Specification for Aviation Turbine Fuel Containing Synthesized Hydrocarbons) to include alcohol to jet synthetic paraffinic kerosene derived from renewable isobutanol.

The Gevo commercial test with Alaska

Alaska Airlines is now poised to fly the first-ever commercial test flight using Gevo’s renewable alcohol to jet fuel (ATJ).  Gevo is preparing the shipment of ATJ to Alaska Airlines for this first flight. Alaska Airlines will work with the Federal Aviation Administration to schedule the flight using Gevo’s ATJ.

The ASTM technical review

The D02.J Ballot passed two levels of ASTM technical scrutiny: subcommittee and main committee ballot and is in the final stages of Society Review. The ASTM process is substantially complete as it relates to the approval of the D02.J Ballot.  In order to fully complete the process, the ASTM still needs to close the Society Review, perform a final ballot tally, and publish the revision of ASTM D7566 (Standard Specification for Aviation Turbine Fuel Containing Synthesized Hydrocarbons) on its website.  It is expected that these final actions will be completed by the ASTM in early April.

Once the revision of ASTM D7566 (Standard Specification for Aviation Turbine Fuel Containing Synthesized Hydrocarbons) is published by the ASTM, Gevo’s ATJ will be eligible to be used as a blending component in standard Jet A-1 for commercial airline use in the United States and in many other countries around the globe.  Gevo’s ATJ would be eligible to be used for up to a 30% blend in conventional jet fuel for commercial flights.

Why a big deal?

In September, we learned Gevo aimed to increase isobutanol production at Luverne to a range of 750,000 to 1 million gallons in 2016, up 7-10x from expected 2015 production levels, in part to increase sales of isobutanol into core markets such as the alcohol-to-jet (ATJ), marina, off-road, isooctane and solvents markets.

Underpining this? Approximately $5.0M of capital expenditures for a distillation system to purify isobutanol on-site, an addition to our seed train to allow Gevo to produce its yeast on-site and a stainless steel fermenter to replace one of the existing carbon steel fermenters that has reached the end of its useful life.

The goal? Reducing the variable cost of producing isobutanol at Luverne to a range of $3.00-$3.50/gallon*, a decrease of approximately 50% from the current cost of production, enabling isobutanol to be produced at a positive contribution margin, based on an expected average selling price for isobutanol of between $3.50-$4.50/gallon

Gevo yields at this time

Gevo has demonstrated yields of 1.80-1.85 gallons per bushel and batch sizes of 16-18 thousand gallons per batch at Luverne, it said in September.

The commercial prospects?

With jet fuel selling at $0.97 per gallon based on $40 oil, don’t expect big orders from Alaska just yet. But they’ve seen as everyone has the projections of $70 oil by year end. While on a pro-rated basis we would not expect to see Alaska doing much more than demonstration that “it is doing something” based on these prices — clearly airlines need to show that they are doing something, else they’ll be regulated country-by-country on CO2 emissions.

What’s the carbon penalty right now based on Gevo’s cost structure? With $3.00 isobutanol, and that’s at the lowest possible end, that corresponds to the jet fuel cost when there’s (roughly) $100 oil. But on the other hand, there’s the $0.70 advanced bioful RIN, and there’s 1.5-1.7 in a gallon of jet fuel, so consider that there’s a $1.05 to $1.19 in RIN support there. That could well support a business for Gevo even with $70-$80 oil.

Reaction from the stakeholders

“We’re pleased that this newly-revised standard now supports isobutanol based alcohol-to-jet aviation biofuels and we look forward to flying it this year. Developing a domestic, competitively priced, sustainable supply of biofuels is fundamental to Alaska Airline’s long term sustainability goals,” said Joe Sprague, Alaska Airline’s Senior Vice President of External Relations.

Dr. Patrick Gruber, Gevo’s Chief Executive Officer, commented, “This ASTM revision is a major achievement and supports one of Gevo’s key products.  We believe that Gevo’s renewable ATJ provides a clear and cost-competitive path for commercial airlines to reduce their greenhouse gas footprints and reduce their particulate emissions from combustion. For Gevo, this step is expected to open a large and significant market to Gevo around which Gevo expects to build a profitable business.”

And Gevo is raising capital on the back of this

Gevo hailed the ballot as paving the way towards a commercial test of ATJ fuel. And, the company announced on the heels of this approval a complex financing plan.

Here’s the Gevo alphabet soup.

It will sell Series C units, with each Series C unit consisting of one share of common stock, Series F warrants to purchase a certain number of shares of common stock and Series H warrants to purchase a certain number of shares of common stock.

Not too bad so far. But, Gevo is also offering Series D units, in lieu of Series C units, to those purchasers whose purchase of additional Series C units in the offering would result in the purchaser beneficially owning more than 4.99% of the Company’s outstanding common stock following the completion of the offering.

The Series D units will consist of pre-funded Series G warrants to purchase one share of common stock, Series F warrants to purchase a certain number of shares of common stock and Series H warrants to purchase a certain number of shares of common stock.


Patrick R. Gruber, Ph.D. – Chief Executive Officer

Patrick R. GruberDr. Patrick Gruber is the Chief Executive Officer of Gevo and has served as a director of the company since 2007. Previously, he was the President and Chief Executive Officer of Outlast Technologies Inc., a technology and marketing company primarily serving the textile industry. In 1997, Dr. Gruber co-founded NatureWorks, LLC (formerly Cargill Dow, LLC), and served as Vice President of Technology and Operations and Chief Technology Officer until 2005.

Dr. Gruber is an advisor to the Energy Future Coalition. He currently serves on the boards of directors of Gevo and Segetis.

In 2008, Dr. Gruber was awarded the first ever George Washington Carver Award. The award recognizes significant contributions by individuals in the field of industrial biotechnology and its application in biological engineering, environmental science, biorefining and biobased products.

As an extraordinary visionary, a revolutionary scientist, and a transformational leader, Dr. Gruber received an Outstanding Achievement Award from the University of Minnesota in 2011. This award recognized Dr. Gruber’s work in the development and commercialization of green chemical production processes, his contributions to industrial biotechnology, and his ability to identify and act on business opportunities.

Dr. Gruber holds an M.B.A. from the University of Minnesota, Carlson School of Management, a Ph.D. in chemistry from the University of Minnesota and a B.S. in chemistry and biology from the University of St. Thomas

Christopher Ryan, Ph.D. – President, Chief Operating Officer, and Chief Technology Officer

Christopher RyanDr. Christopher Ryan is the President and Chief Operating Officer at Gevo. He started his tenure at Gevo in 2009 with more than 20 years of experience in strategic leadership, business development and research and product development in biobased materials. Most recently, Dr. Ryan was Chief Operating Officer and Chief Technology Officer for NatureWorks LLC, which he co-founded in 1997. While at NatureWorks, Dr. Ryan was involved in the development and commercialization of the Company’s new biobased polymer, polyactide (PLA), from lab-scale production and the introduction of PLA, through its $300 million world-scale production facility. He also spent four years working in Corporate R&D for HB Fuller, a specialty chemicals company.

Dr. Ryan completed the Management of Technology program at the University of Minnesota, Institute of Technology, holds a Ph.D. in organic chemistry from the University of Minnesota and a B.S. in chemistry from Gustavus Adolphus College.

Brett Lund, J.D., M.B.A. –  Chief Legal Officer and Secretary

Brett LundMr. Brett Lund is the Chief Legal Officer and Secretary at Gevo. Mr. Lund was named “Best Corporate Counsel” by the Denver Business Journal, one of Colorado’s “Top Twenty-Five Most Influential Young Professionals” by ColoradoBiz Magazine, and “Forty Under 40” by the Denver Business Journal for being one of the top forty business leaders under age 40. Mr. Lund is currently a Board member of the Colorado BioScience Association, Gevo Development, and the Colorado Cleantech Industry Association. Prior to joining the company, Mr. Lund was the CEO and co-founder of Agarigen, Inc, which he successfully sold to Intrexon, Inc. Mr. Lund also previously served as chairman of the legal, IP and licensing group for Syngenta Biotechnology Inc.’s biofuels business. In his role at Syngenta, Mr. Lund led the management of intellectual property, in-licensing, out-licensing, research collaborations, and strategic alliances. Prior to Syngenta, he served as Associate General Counsel for the Ford Motor Company’s Wingcast subsidiary.

Mr. Lund was previously a corporate attorney at the law firm of Cooley LLP, where he represented numerous companies regarding intellectual property licensing, IPOs, venture capital financing, M&A, securities, strategic alliances and related transactions.

Mr. Lund holds a J.D from Duke University Law School, an M.B.A. from Duke University’s Fuqua School of Business and a B.A. in political science from the University of California, San Diego. He is a Certified Licensing Professional by the Licensing Executives Society and admitted to practice law in California and North Carolina. Mr. Lund has also been a member of the American Bar Association, California Bar Association, North Carolina Bar Association, the Licensing Executives Society (LES) and the Association of University Technology Managers (AUTM).


Isobutanol: A Gateway to Chemicals and Fuels

Gevo’s commercialization efforts are focused on isobutanol, a naturally occurring four carbon alcohol. Isobutanol is an important platform chemical with broad applications in many chemicals and fuels markets. It is a “drop-in” product that should allow customers to replace petroleum-derived raw materials with isobutanol-derived raw materials without modification to their equipment or production processes. Because isobutanol can drop into existing infrastructure, it should provide for easy integration into existing chemical and specialty fuel production processes.

Gevo’s isobutanol has successfully cleared registration with the U.S. EPA as a fuel additive. It is the first isobutanol to be listed in the EPA’s Fuel Registration Directory and is now approved for blending with gasoline.

Isobutanol advantages. Gevo’s isobutanol-based products are chemically equivalent to those produced from petroleum-based raw materials, except they are produced via fermentation from renewable sources.

Our markets include:

  • Solvents and Coatings. A solvent-grade renewable isobutanol can be used in the existing butanol market as a cost-effective alternative to petroleum-derived solvents with a lower carbon footprint.
    Materials, Plastics, and Fibers. Isobutanol can be dehydrated to produce butenes, which are building blocks for the production of materials such as lubricants, synthetic rubber, PMMA, propylene, xylene, and PET. Gevo’s isobutanol can provide chemical companies with an alternative to petroleum-based butenes with potential advantages in cost, predictability and life cycle profile.
    Biojet Blendstock. Isobutanol has been converted to kerosene, which is a drop-in blend component for petroleum jet fuel. Bio-based kerosene has the potential to provide a cleaner burning, renewable jet fuel with a lower carbon footprint. Working with the Department of Defense, we have validated that alcohol-to-jet fuel is a clean-burning, homegrown, drop-in option.
    Specialty Fuels. For specialized uses, such as small-engine and/or marine fleet engines, it is important to have a fuel that does not cause shortened engine life or create operational safety issues, and can meet EPA emission targets. Isobutanol has a lower Reid vapor pressure value than ethanol and, with 30 percent more energy, generates significantly more renewable fuels (RIN) credits. It has a lower propensity for phase separation in the presence of water and has no stress corrosion cracking compatibility or elastomer incompatibility issues.


Downloadable resources

Brand guide

Company Fact sheet

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Current Price
Bid Ask Day's Range
GEVO News: Statement of Ownership (sc 13g) 02/17/2017 04:06:50 PM
GEVO News: Current Report Filing (8-k) 02/16/2017 04:51:44 PM
GEVO News: Prospectus Filed Pursuant to Rule 424(b)(5) (424b5) 02/15/2017 04:58:24 PM
GEVO News: Statement of Ownership (sc 13g) 02/15/2017 10:44:50 AM
GEVO News: Statement of Changes in Beneficial Ownership (4) 02/14/2017 10:35:51 AM
#7223  Sticky Note After Alaska Air., Gevo has signed with Lufthansa. Condor65 10/27/16 09:21:25 AM
#7770   Red beambe 02/17/17 04:17:55 PM
#7769   i believe the offering closes today, imo this thegambler1 02/17/17 01:08:45 PM
#7768   I wish I was with you there because OlivePennys 02/17/17 09:14:55 AM
#7767   Just in for flip not investment MARINO 02/17/17 09:13:39 AM
#7766   That's a tough thing to do for GEVO OlivePennys 02/17/17 09:12:58 AM
#7765   Lets have a good day $$$ MARINO 02/17/17 09:07:30 AM
#7764   You are spot on. This enterprise has a ballot123 02/16/17 07:44:39 PM
#7763   beambe buy $ 1,26 beambe 02/16/17 01:51:47 PM
#7762   They are still diluting the shares from before. DojiMan 02/16/17 01:36:13 PM
#7761   It's not dilute The shares a restricted and overlordpeter 02/16/17 01:20:23 PM
#7760   It is not is diluted. On the DojiMan 02/16/17 11:31:59 AM
#7759   Crazy oversold. Bought more. This will Gap UP $$$$ MARINO 02/16/17 10:17:56 AM
#7758   GEVO price target of $8.50 and a 52-week overlordpeter 02/16/17 05:59:17 AM
#7757   Haven't checked up on this in a long weathervane 02/15/17 09:04:54 PM
#7754   Oh no MARINO 02/15/17 05:50:49 PM
#7752   Gooooo 20 Cent beambe 02/15/17 05:01:47 PM
#7751   * * $GEVO Video Chart 02-15-17 * * ClayTrader 02/15/17 04:47:31 PM
#7750   No soil Formation can be expected beambe 02/15/17 03:12:12 PM
#7749   At the Speed it can be the GEVO beambe 02/15/17 12:27:58 PM
#7748   You would think with this volume someone would MARTIN1980 02/15/17 11:09:59 AM
#7747   Nobody should use an advisor that says price DojiMan 02/15/17 10:33:01 AM
#7746   Already Friday GEVO can be a Pennystock beambe 02/15/17 10:26:46 AM
#7745   Long and weak. Looking good today OlivePennys 02/15/17 09:19:30 AM
#7744   Rodman & Renshaw Price Target $12.00 from overlordpeter 02/15/17 08:47:08 AM
#7743   Wrong type though MARTIN1980 02/14/17 04:22:52 PM
#7742   Good Volume :-) beambe 02/14/17 03:49:23 PM
#7741   Dilution at $1.90. willlbone 02/14/17 01:29:28 PM
#7740   No no beambe 02/14/17 01:24:42 PM
#7739   Oversold. Im in $$$$ MARINO 02/14/17 01:14:00 PM
#7738   In the Tempo GEVO can stand 20 Cent beambe 02/14/17 11:22:19 AM
#7737   This is one nasty dilution machine. Has been DojiMan 02/14/17 10:51:05 AM
#7736   Need a rebound MARTIN1980 02/14/17 10:35:38 AM
#7735   News out DojiMan 02/14/17 10:14:16 AM
#7734   Just as many buyers as sellers MARTIN1980 02/14/17 10:02:30 AM
#7733   I looked into shorting this stock right after jxcxjx03 02/14/17 08:49:58 AM
#7731   It's going to be a blood bath today OlivePennys 02/14/17 08:30:43 AM
#7730   GEVO Using Syndicate Covering Transactions, Penalty Bids & QUANTUM314 02/14/17 03:38:25 AM
#7729   There's an AH bite in the ass!! Although racman 02/14/17 02:01:08 AM
#7728   this pos will be back down again and sick nam vet 02/14/17 12:14:57 AM
#7727   this is good new for me I will overlordpeter 02/13/17 07:59:57 PM
#7726   News needed bad MARTIN1980 02/13/17 07:58:07 PM
#7725   They're in such a hurry to dilute this ballot123 02/13/17 06:13:14 PM
#7724   Wish I shorted this pos back to penny mikekrane 02/13/17 05:01:29 PM
#7723   This stock better come out with some news MARTIN1980 02/13/17 05:00:23 PM
#7722   Oh may Gott beambe 02/13/17 04:29:19 PM
#7721 beambe 02/13/17 04:22:31 PM
#7720   I am buying thank you sellers . overlordpeter 02/13/17 03:54:54 PM
#7719   Hope it stalls MARTIN1980 02/13/17 03:29:21 PM
#7718   Under 2 by Eod at this rate OlivePennys 02/13/17 03:26:56 PM
#7717   In the Speed is GEVO in 5 Days beambe 02/13/17 03:25:57 PM