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Gevo, Inc. (GEVO)

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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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GEVO News: Technical Pulse on Chemicals - Major Diversified Stocks -- Gevo, The Dow Chemical, Huntsman, and FMC Corp. 07/20/2016 07:30:00 AM
GEVO News: Statement of Changes in Beneficial Ownership (4) 07/19/2016 03:30:25 PM
GEVO News: Statement of Changes in Beneficial Ownership (4) 07/13/2016 02:06:02 PM
GEVO News: Statement of Changes in Beneficial Ownership (4) 07/12/2016 06:26:37 PM
GEVO News: Statement of Changes in Beneficial Ownership (4) 07/12/2016 06:25:46 PM
#4720  Sticky Note Click on link to listen to CEO Gruber's Penny_Madness 06/16/16 10:54:03 AM
#4306  Sticky Note Buying Alert from Analysts on Gevo, Inc. (NASDAQ:GEVO)... Nyk1 06/13/16 02:42:42 AM
#4068  Sticky Note Gevo Announces Proposed Public Offering of Common Stock [SMART MONEY] 06/09/16 07:10:19 PM
#3512  Sticky Note this is from Boeing website >>> balamidas 06/08/16 10:58:21 AM
#5722   You kidding? This is the perfect time to thelionwarrior 07/22/16 03:37:18 PM
#5721   Sure am glad that I got out when Knuckles1 07/22/16 12:03:16 PM
#5720   I'm with you, did my weekly buy today 91polo 07/22/16 11:14:29 AM
#5719   I'm with you, did my weekly buy today 91polo 07/22/16 11:11:42 AM
#5718   GEVO is under Rule 201 from 07/22 to Condor65 07/22/16 11:08:09 AM
#5717   Check out this memo from Analysts. ZAZLO 07/22/16 10:57:50 AM
#5716   Come on with some news already. This is Penny_Madness 07/22/16 10:43:51 AM
#5715   That would be nice....bring it Guardian 07/20/16 12:37:45 PM
#5714   Stoc* tw**s HUSTLA 07/20/16 12:24:14 PM
#5713   What site? treppy 07/20/16 12:17:05 PM
#5712   Not sure if it's true, but another site HUSTLA 07/20/16 11:17:03 AM
#5711   14% of float is short their time is Guardian 07/20/16 11:05:04 AM
#5710   Dude you need patient IMO GEVO will make Guardian 07/20/16 10:33:10 AM
#5709   I cut the bleeding this morning. Good luck HUSTLA 07/20/16 10:03:41 AM
#5708   Looks good today lol OlivePennys 07/20/16 09:47:00 AM
#5707   Going into the mid $.60s before the CC. 91polo 07/19/16 10:35:17 PM
#5706   Only update, form 4..... HUSTLA 07/19/16 04:14:56 PM
#5705   I'm still here. Condor65 07/19/16 02:59:29 PM
#5704   Wish there was more to talk about OlivePennys 07/19/16 02:13:57 PM
#5703   Looks like all the posters sold or are Guardian 07/19/16 02:06:10 PM
#5702   Gevo: sleeping giant awakens tomorrow. Imo. (Chart set HUSTLA 07/18/16 04:10:01 PM
#5701   We will see. Hoping we get news at HUSTLA 07/18/16 01:16:45 PM
#5699   could be but someone is methodically buying up Guardian 07/18/16 11:37:59 AM
#5698   Looks more technically founded. Chart was showing HUSTLA 07/18/16 11:13:52 AM
#5697   maybe some news is a coming? Guardian 07/18/16 11:09:27 AM
#5696   Breakout seems imminent OlivePennys 07/18/16 10:55:08 AM
#5695   Gevo looking good today OlivePennys 07/18/16 10:54:36 AM
#5694   someone wants a lot of shares. Could get Guardian 07/18/16 09:42:01 AM
#5693   can this go up this week? Guardian 07/18/16 08:51:52 AM
#5692   So its true Cathay Pacific will be switching RWFZS 07/16/16 04:42:07 PM
#5691   Cathay Pacific Airlines starts two-year program to use myopinion 07/16/16 03:55:10 PM
#5690   Gevo weekly chart looks really good. This week HUSTLA 07/16/16 01:15:23 PM
#5689   LOL.... take GEVO to .47 Weird·o 07/15/16 07:35:58 PM
#5688   I know, who'd of thought I would be lowpsycho 07/15/16 04:19:06 PM
#5687   Alright green close OlivePennys 07/15/16 04:04:36 PM
#5686   Food for may be in discussions to HUSTLA 07/15/16 02:31:03 PM
#5685   Do good company's keep their shareholders in the OlivePennys 07/15/16 02:05:54 PM
#5684   This isn't stock to flip, this is Derekdixon21 07/15/16 02:02:00 PM
#5683   Most of you on here are rediculous Derekdixon21 07/15/16 01:59:59 PM
#5682   Seriously.... HUSTLA 07/15/16 01:23:03 PM
#5681   I'm out! Good luck to all, just losing Knuckles1 07/15/16 01:21:18 PM
#5680   ....I don't see what the frikkin hold up OlivePennys 07/15/16 01:15:54 PM
#5679   $GEVO .10 coming imo. Short Interest in Gevo myopinion 07/15/16 11:38:37 AM
#5678   How can they!? Er is Aug 2 and HUSTLA 07/15/16 11:31:39 AM
#5677   I thought they can release that information as Derekdixon21 07/15/16 11:24:48 AM
#5676   In the WE ... Condor65 07/15/16 10:39:53 AM
#5675   I would've thought it smart to release extension HUSTLA 07/15/16 10:33:10 AM
#5674   This stock is getting worse every day. All Knuckles1 07/15/16 10:31:53 AM
#5673   One week. Condor65 07/15/16 10:30:05 AM
#5672   That's not possible. They have a July 25th HUSTLA 07/15/16 10:19:48 AM