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Gevo, Inc. (GEVO)

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Last Post: 12/15/2017 12:39:18 PM - Followers: 204 - Board type: Free - Posts Today: 0

Welcome to Gevo Board 
Contact Info
345 Inverness Drive South
Building C
Suite 310
Englewood, CO 80112
Phone: (303) 858-8358


Gevo has been producing and selling its patented alcohol-to-jet fuel (ATJ) derived from isobutanol since 2011. Gevo is working toward further commercializing its patented ATJ, which is a clean burning, homegrown, drop-in jet fuel that has the potential to deliver aviation biofuels at scale and at competitive cost. Fossil-based jet fuel is one of the largest expenses for airlines. Gevo’s ATJ is expected to help reduce the airline industry’s carbon footprint and help control fuel costs.

Before Gevo’s ATJ could be sold to airlines, it had to pass a series of technical and safety tests. After six years of rigorous performance assessments conducted by ASTM International, including extensive engine testing and data analysis by all of the major original equipment manufacturers, the ASTM D7566 specification was revised to include Gevo’s ATJ in April of 2016. The revision includes ATJ derived from renewable isobutanol, regardless of the carbohydrate feedstock (i.e. cellulosics, corn, sugar cane, molasses, etc.). For more on Alaska Airlines flying with Gevo’s cellulosic renewable ATJ click here for a PDF download.

Gevo’s ATJ can now be seamlessly integrated into the existing distribution infrastructure and onto commercial aircraft where a domestic, competitively priced, sustainable supply of biofuels is expected to meet the growing demand for fuel alternatives in one of the world’s largest industries for fuel consumption.

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, 2016S

First 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.


Leveraging the same hydrocarbons technology that Gevo uses to convert isobutanol to jet fuel, Gevo also produces isooctane, or renewable gasoline. Whereas isobutanol can be used as a blendstock for a finished gasoline (with Gevo targeting isobutanol blends of 12.5% to 16%), the balance of such finished fuels is typically comprised of petroleum-based products. Gevo is looking to replace such petroleum-based products with its renewable isooctane. This would enable extremely high renewable content in gasoline, approaching almost 100% of the gasoline, while not sacrificing the performance of such fuels.

The market interest in renewable carbon-based fuels is increasing. Certain markets in Europe already place significant value on low carbon fuels, and other markets are moving in this direction, including parts of the U.S., such as California. Gevo believes its isooctane has the ability to address such demand successfully both from a performance, as well as a production cost standpoint. Given Gevo’s isooctane is virtually identical (chemically) to petro-isooctane, this should cause minimal adoption hurdles for the fuel.


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.
Case Studies
Renewable PET Will Help Toray Meet Consumer Demand for Environmentally-Friendly Plastic Packaging
Bio-based Isobutanol to Enable Coca-Cola to Develop Second Generation PlantBottle™ Packaging
Gevo and Purina Animal Nutrition LLC Exploring Opportunities to Upgrade Value-Added Applications in Animal Feed Products
NMMA Testing Demonstrates Gevo’s Isobutanol-Gasoline Blend is Superior to E15 Fuel for Boaters
USAF A10 Test Flight Powered by Gevo’s Alcohol-to-Jet Fuel Validates Military Application
Gevo and Mansfield Oil Partnering to Introduce Next Generation Biofuels

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GEVO News: Confidential Treatment Order (ct Order) 12/14/2017 03:37:27 PM
GEVO News: GE Aviation Testing 100% Gevo ATJ Fuel 12/11/2017 09:00:46 AM
GEVO News: Statement of Changes in Beneficial Ownership (4) 11/30/2017 03:20:36 PM
GEVO News: Statement of Changes in Beneficial Ownership (4) 11/30/2017 03:19:45 PM
GEVO News: Statement of Changes in Beneficial Ownership (4) 11/30/2017 03:15:16 PM
#8357  Sticky Note I'm sure the Big R/S will kick in Value_Investor 11/30/17 09:51:04 PM
#8395   I'm wondering why this pos scam didn't file Value_Investor 12/15/17 12:39:18 PM
#8394   GEVO will surge back to the most recent Luna Tic 12/15/17 09:42:53 AM
#8393   100% Nonsense! The Biggest Pos Scam is heading Value_Investor 12/14/17 09:25:25 PM
#8392   $GEVO On Fly Green Day, Eight Airlines Fly MazelTov 12/14/17 08:11:40 PM
#8391   $GEVO Book Value Per Share $5.11 MazelTov 12/14/17 07:30:09 PM
#8390 javi2003 12/11/17 09:10:23 AM
#8388   The Huge Diluting Pos Scam (GEVO) declined to Value_Investor 12/09/17 05:17:32 PM
#8387   I have loaded for two years 2018 it’s javi2003 12/08/17 04:38:44 PM
#8386   Loading Zone for 2018. Gonna be epic imo MazelTov 12/08/17 04:24:23 PM
#8385   $GEVO Short SQUEEEEEEEZE MazelTov 12/08/17 03:48:46 PM
#8384   $GEVO MazelTov 12/08/17 03:34:27 PM
#8383   $GEVO Rodman & Renshaw Gives Gevo $12 Price MazelTov 12/07/17 01:03:35 PM
#8382   That information was incorrect it was not for javi2003 12/06/17 08:23:22 PM
#8381   I thought the possible grant was to be Garyedward71 12/06/17 02:29:34 PM
#8380   First we need that extension I think we javi2003 12/05/17 01:43:09 PM
#8379   $GEVO will bounce to $3 in 2018 mark MazelTov 12/05/17 12:25:25 PM
#8378   $GEVO Book Value Per Share $5.11 MazelTov 12/05/17 11:55:45 AM
#8377   The Biggest Pos Scam is heading onto its Value_Investor 12/04/17 10:06:46 PM
#8376   Gevo -- Displacing Petroleum One Biofinery At A MazelTov 12/04/17 03:35:40 PM
#8375   Tomorrow we might get the government grant money javi2003 12/03/17 12:43:44 PM
#8374   Isobutanol Expansion MazelTov 12/02/17 07:12:09 PM
#8373   Japan will allow gas blends using U.S. ethanol MazelTov 12/02/17 07:10:43 PM
#8372   Brazil's hydrous ethanol demand in Oct hits highest MazelTov 12/02/17 07:09:52 PM
#8371   EPA Appeases Biofuels Sector and Increases Ethanol Requirements MazelTov 12/02/17 07:08:52 PM
#8370   UNICA: Ethanol production, sales up during first half MazelTov 12/02/17 07:08:37 PM
#8368   Score One for Corn: In Battle Over Biofuel, MazelTov 12/02/17 07:01:01 PM
#8367   Beware Folks here: GEVO is a Giant Diluting Value_Investor 12/02/17 06:04:10 PM
#8366   $GEVO has $16.3M in cash MazelTov 12/02/17 05:33:18 PM
#8365   $GEVO Top Mutual Fund Holders MazelTov 12/02/17 05:31:51 PM
#8364   $GEVO Top Institutional Holders MazelTov 12/02/17 05:31:40 PM
#8363   As I told everyone here I sold the Value_Investor 12/02/17 04:42:51 PM
#8362   I can’t wait for Monday we are the javi2003 12/02/17 09:15:07 AM
#8357  Restored I'm sure the Big R/S will kick in Value_Investor 11/30/17 09:51:04 PM
#8356   Loading Zone. MazelTov 11/30/17 09:49:55 PM
#8355  Restored A Pipe Dream! GEVO is a Garbage and Value_Investor 11/29/17 02:32:35 PM
#8354   $GEVO Bullish Chart MazelTov 11/29/17 12:45:08 PM
#8353   $GEVO Next leg .77, then 1.35, then 2.50, MazelTov 11/29/17 12:42:51 PM
#8350  Restored Again, a Pipe Dream! There is no way Value_Investor 11/29/17 12:14:30 PM
#8349   $GEVO MazelTov 11/29/17 10:57:49 AM
#8347   $GEVO Buy rating reiterated by stock analysts at MazelTov 11/29/17 10:07:11 AM
#8346   No way! I only hope I could sell Value_Investor 11/29/17 08:59:47 AM
#8345   The chart is getting worse than before --- Value_Investor 11/22/17 10:32:13 AM
#8344   A pipe dream! The pos scam is heading Value_Investor 11/21/17 10:44:25 AM
#8343   The pattern of the chart is the same javi2003 11/20/17 08:20:59 PM
#8342   $1+ coming any time soon imo. $GEVO Oversold MazelTov 11/20/17 10:38:09 AM
#8341   Hopefully we get this extension. Asianzing 11/16/17 06:17:30 PM
#8340   ALLLLL ABOARD? MazelTov 11/15/17 08:53:12 PM
#8339   $GEVO Gevo Company Presentation MazelTov 11/15/17 08:27:31 PM
#8338   ******** $GEVO MONSTER BOUNCE #CHART > MazelTov 11/14/17 09:48:28 PM
#8337   $GEVO *** PINCHER *** Chart MazelTov 11/14/17 09:40:03 PM