Gevo Signs Malaysian Collaboration to Produce Cellulosic Isobutanol for SE Asia
June 19 2012 - 3:00PM
Business Wire
Gevo, Inc. (NASDAQ: GEVO), a leading renewable chemicals and
next-generation biofuels company, signed a collaborative agreement
today with the intent to site a cellulosic biomass isobutanol
facility in Southeast Asia. Gevo’s President and Chief Operating
Officer, Chris Ryan, signed the collaborative agreement with
representatives from the Malaysian government’s East Coast Economic
Region Development Council (ECERDC), Malaysian Biotechnology Corp
(BiotechCorp) and the State Government of Terengganu.
After a year of ongoing development work in Malaysia, Gevo is
strategically partnering along the supply chain to provide biobased
isobutanol at a cost competitive price. The company is in the final
stages of evaluating additional partners to complete the biomass to
isobutanol value chain. The collaboration offers a diversified
feedstock, organized approach and the opportunity to develop an
economically advantaged business plan to meet this expanding
market.
“The technology for a sustainable cellulosic feedstock is
expected to be commercially viable this year, so now is the
appropriate time to begin our cellulosic platform,” said Ryan.
“We’re excited to follow the demand, especially since Southeast
Asia is one of the fastest growing chemical markets, and Malaysia
provides an excellent growth opportunity for Gevo. Our ambition is
to move toward definitive agreements by the second half of 2012
with a target of having a cellulosic plant operational by late 2015
or early 2016.”
The current plan under consideration is to construct a
fermentation facility to produce bio isobutanol made from
cellulosic biomass. The proposed site is in the State of Terengganu
at the world-class Biorefinery Complex in Kertih.
“The establishment of a Gevo facility in East Coast Economic
Region Malaysia is further testament to investors’ confidence in
the Region and we look forward to facilitating Gevo’s investment in
Malaysia,” said Chief Executive Officer of the ECERDC, Jebasingam
Issace John.
The Terengganu State Government was represented by its State
Secretary, Mazlan Ngah and BiotechCorp was represented by its Chief
Executive Officer, Dr. Mohd Nazlee Kamal. The document exchange
ceremony was held in conjunction with the Bio International
Convention and Exhibition that is currently taking place in Boston,
Mass.
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, 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. These forward-looking
statements include statements that are not purely statements of
historical fact, and can sometimes be identified by our use of
terms such as “intend,” “expect,” “plan,” “estimate,” “future,”
“strive” and similar words. 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, 2011,
as amended, and in subsequent reports on Forms 10-Q and 8-K and
other filings made with the SEC by Gevo.
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