Gevo Awarded Contract to Supply Jet Fuel to U.S. Air Force
September 28 2011 - 7:00AM
Business Wire
Gevo, Inc. (NASDAQ: GEVO), a leading renewable chemicals and
advanced biofuels company, has been awarded a contract by the
Defense Logistics Agency (DLA) to supply jet fuel to the U.S. Air
Force (USAF). DLA sources and provides nearly 100 percent of the
consumable items America’s military needs to operate. The contract,
worth a possible total of $600,000, provides that Gevo will supply
the USAF with up to 11,000 gallons of ‘alcohol-to-jet’ (ATJ) based
jet fuel, which will be used to support engine testing and a
feasibility flight demonstration using an A-10 aircraft.
“The USAF is committed to positioning itself to integrate cost
competitive alternative aviation fuels for up to half of its
domestic needs by 2016,” commented Christopher Ryan, Ph.D.,
president and COO of Gevo. “Once the USAF certifies our ATJ fuel,
we believe we will have an excellent opportunity to become a
supplier of homegrown and renewable jet fuel to our armed
services.”
This is the first ATJ fuel contract awarded by the DLA. The
contract stipulates that Gevo will supply the USAF with 7,000
gallons of ATJ fuel. The fuel will be shipped to Wright-Patterson
Air Force Base, where the Air Force will finish lab testing and
begin engine testing. DLA has the option to order up to an
additional 4,000 gallons at the end of the contract.
The ATJ fuel is scheduled to be produced from isobutanol at
Gevo’s hydrocarbon processing demonstration plant in Silsbee,
Texas, in partnership with South Hampton Resources. The company
plans to begin shipping product to the USAF in the first quarter of
2012.
About Gevo
Gevo is converting existing ethanol plants into biorefineries to
make renewable building block products for the chemical and fuel
industries. The company plans to convert renewable raw materials
into isobutanol and renewable hydrocarbons that can be directly
integrated on a “drop in” basis into existing chemical and fuel
products to deliver environmental and economic benefits. Gevo is
committed to a sustainable biobased economy that meets society’s
needs for plentiful food and clean air and water. For more
information, please visit 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. Such statements relate to
a variety of matters, including but not limited to the cost, timing
and anticipated completion of the retrofit, the benefits expected
to result from the joint venture and the retrofit, expected
isobutanol production capacity 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 the company undertakes no obligation to
update or revise these statements, whether as a result of new
information, future events or otherwise. Although the company
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, 2010,
and in subsequent reports on Forms 10-Q and 8-K and other filings
made with the SEC by Gevo.
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