Gevo Responds to The Status-Quo Order Dated July 7, 2012
July 09 2012 - 8:00AM
Business Wire
Gevo, Inc. (NASDAQ: GEVO), a leading renewable chemicals and
next-generation biofuels company, today responded to a limited
court order relating to the ButamaxTM Advanced Biofuels, LLC
(Butamax) appeal of the U.S. District Court of Delaware’s decision
to dismiss its Preliminary Injunction Motion.
“We anticipated Butamax’s appeal and were satisfied to see that
in denying the preliminary injunction request of Butamax the
judge’s opinion ‘that plaintiff (Butamax) does not hold a valid
patent, nor would the defendant (Gevo) infringe if it did’ remains
intact,” said Brett Lund, Executive Vice President and General
Counsel. “The judge did issue a temporary order while Butamax
appeals to the Federal Court. Under the temporary order, Gevo
remains free to operate in markets such as chemicals, jet fuel,
marine fuel, small engine fuel and all other markets, except
Gevo may not supply the automotive fuel blendstock market with
biobased isobutanol from our Luverne facility during the appeals
process. We disagree with that decision and have filed an appeal of
the order. Testing for automobile fuels will continue, but with
non-biobased isobutanol.”
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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