Followers | 2 |
Posts | 33 |
Boards Moderated | 0 |
Alias Born | 12/01/2018 |
Monday, December 10, 2018 5:57:39 AM
Font size: A | A | A
9:00 AM ET 12/6/18 | GlobeNewswire
Renmatix and Gevo Sign a Joint Development Agreement to Evaluate the Commercial Feasibility of Creating Cellulosic Hydrocarbons for Global Renewable Jet Fuel and Gasoline Markets
Will explore capabilities to produce renewable fuels and chemicals to meet expanding demand
ENGLEWOOD, Colo., Dec. 06, 2018 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) and Renmatix, the leader in affordable cellulosic sugars, today announced a joint development agreement to evaluate the commercial feasibility of creating renewable jet fuel by integrating Renmatix's Plantrose(R) Process with Gevo's GIFT(TM) technology and alcohol to jet process. Renmatix's Plantrose Process converts cellulosic feedstocks such as wood, agricultural residues, or other cellulosic raw materials to cellulosic-based sugars, the basic building blocks of sustainable fuels. Together, Renmatix and Gevo will explore project opportunities for renewable and low-emission fuel, isobutanol, jet fuel and isooctane in markets where there is a convergence of low-cost biomass and low-carbon fuel incentives.
This Agreement to evaluate the commercial feasibility of developing renewable, low-carbon fuels from cellulosic material also comes at a time when global refiners and airline carriers are working toward reducing their own greenhouse gas emissions by looking to enter into affordable and large-scale agreements for the supply of renewable jet fuel and gasoline.
"At Gevo, we are replacing fossil-based jet fuel and gasoline with better-performing, renewable low-carbon jet fuel and isooctane to lower greenhouse gas emissions. In addition to our approach that produces protein for food chain use while generating fermentable sugars used in the production of low-carbon fuels, we believe Renmatix's Plantrose Process could enable us to achieve a cost-effective and sustainable means of producing low-carbon jet fuel and gasoline from fermentable sugars using cellulosic feedstocks. We look forward to working with Renmatix to create a fully integrated system that is capable of converting cellulosic materials to low-carbon renewable fuels at scale," said Patrick Gruber, Ph.D., CEO of Gevo.
Cellulosic sugars are one of the most abundant feedstocks in the world, and in many geographies with dense vegetation, using woody biomass feedstocks to generate useful sugars is the most cost-effective solution. The Joint Development Agreement between Renmatix and Gevo to evaluate the commercial feasibility to convert cellulosic feedstocks into renewable, low-carbon products addresses a major global need for automotive biofuels worldwide, as well. Much like jet fuel, the automotive biofuels market is undergoing rapid growth, expected to reach more than $195 billion by 2023, up from nearly $119 billion in 2017, according to Research and Markets. Demand for sustainable aviation fuels is also increasing; according to the International Air Transportation Association (IATA), incremental demand is expected to grow by 3 billion gallons per year.
"Renmatix has been committed to cellulosic feedstocks as the means to enabling the bio-based economy, from recent efforts to liberate valuable fractions into food and cosmetic ingredients, to our cellulosic sugar technology for jet fuel developments. Given Gevo's first cellulosic-based jet fuel and recent advancements, to today, with demand for renewable jet fuel increasing, we believe it's an ideal time to explore our combined ability," said Mike Hamilton, CEO of Renmatix. "Despite continued innovation in biofuels, it is impossible to make enough renewable fuels at the scale that the world will ultimately need without unlocking the massive resource of cellulosic sugars. Our Plantrose technology produces high-quality, cost-effective sugars from a broad range of feedstocks, which is why we're working with Gevo to solve this critical hurdle."
Recent GEVO News
- Gevo to Report First Quarter 2024 Financial Results on May 2, 2024 • GlobeNewswire Inc. • 04/17/2024 08:30:00 PM
- Gevo RNG Subsidiary Successfully Remarkets Its Tax-Exempt Green Bonds • GlobeNewswire Inc. • 04/01/2024 08:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/07/2024 09:03:50 PM
- Gevo Reports Fourth Quarter and Full Year 2023 Financial Results • GlobeNewswire Inc. • 03/07/2024 09:01:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/04/2024 09:05:32 PM
- Gevo Hires Damien Perriman as Chief Business Development Officer • GlobeNewswire Inc. • 02/26/2024 02:00:00 PM
- Gevo to Participate in Upcoming Virtual Investor Meetings • GlobeNewswire Inc. • 02/08/2024 06:00:00 PM
- Gevo to Report Fourth Quarter 2023 Financial Results on March 7, 2024 • GlobeNewswire Inc. • 02/08/2024 02:01:00 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 02/05/2024 05:15:22 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/24/2024 02:10:11 PM
- Gevo Provides Business Update • GlobeNewswire Inc. • 01/24/2024 02:05:00 PM
- Gevo Files New S-3 Ahead of Expiration, Updates ATM Agreement • GlobeNewswire Inc. • 01/16/2024 09:01:00 PM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 01/16/2024 02:05:05 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/03/2024 09:12:45 PM
- Gevo Announces Appointment of Katie Ellet to Board of Directors • GlobeNewswire Inc. • 01/03/2024 09:05:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/26/2023 09:47:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/26/2023 09:33:10 PM
- Gevo VP of Government Relations Lindsay Fitzgerald and VP of Finance & Strategy Eric Frey to Participate in a Water Tower Research Fireside Chat on Tuesday, December 19th at 10:00 am ET • GlobeNewswire Inc. • 12/18/2023 02:00:00 PM
- Gevo Statement on Treasury Guidance for SAF Tax Credit • GlobeNewswire Inc. • 12/15/2023 03:19:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/13/2023 09:48:31 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/13/2023 09:34:17 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/12/2023 09:07:08 PM
- Water Tower Research US Climate Virtual Investor Conference: Presentations Now Available for Online Viewing • GlobeNewswire Inc. • 12/08/2023 01:35:00 PM
- Water Tower Research US Climate Investor Conference Agenda Announced for December 7th, 2023 • GlobeNewswire Inc. • 12/04/2023 01:35:00 PM
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • BLO • Apr 25, 2024 8:52 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM