Gevo welcomes Alaska Airlines endorsement of a Washington State Low Carbon Fuel Standard
January 21 2020 - 8:00AM
Gevo, Inc. (NASDAQ: GEVO), a leading sustainable aviation fuel
(SAF) producer, welcomed the news of Alaska Airlines’ and
Washington state Governor Inslee’s support of Washington’s low
carbon fuel legislation.
“The Pacific Northwest, and the Seattle area in particular, is a
leader to make our world more sustainable. The value to decarbonize
and reduce greenhouse gas emissions is real,” stated Patrick
Gruber, Chief Executive Officer of Gevo “The legislation that
Governor Inslee proposes, which is supported by Alaska Airlines,
would be expected to make the Pacific Northwest more attractive
for, and a production location of, the new generation of fuels. We
see that there are potential attractive production sites in the
region given the abundance of renewable resources available. In
2016 Gevo was the first to make and supply wood based jet fuel that
was used by Alaska Airlines. In 2019 we were awarded the
opportunity to supply the City of Seattle with advanced low carbon
fuels for their fleet automobiles. We see tremendous potential in
the state of Washington. Every drop of sustainable low-carbon
fuel we get into the market is a win and helps to change the
conversation about what is possible for the future.” In November
2019, the Biotechnology Innovation Organization (BIO) and the Low
Carbon Fuel Coalition (LCFC) launched a joint initiative to drive
adoption of renewable fuel policies in US states. The organizations
will work to advance policies that will support green energy
breakthroughs to decarbonize transportation, which leads all other
sectors in greenhouse gas emissions. California has also been
leading the way in decarbonizing its transport sector. Since
implementing its comparable low carbon fuel standard in 2011, the
state has prevented over 50 million tons of carbon from being
emitted. The California LCFS program has made a tremendous
impression on other communities attempting to reduce their carbon
footprint. There are several states, such as New York, that have
already adopted, or are considering adoption of, LCFS-like
programs.
About Gevo
Gevo is commercializing the next generation of gasoline, jet
fuel and diesel fuel with the potential to achieve zero carbon
emissions, addressing the market need of reducing greenhouse gas
emissions with sustainable alternatives. Gevo uses low-carbon
renewable resource-based carbohydrates as raw materials and is in
an advanced state of developing renewable electricity and renewable
natural gas for use in production processes, resulting in
low-carbon fuels with substantially reduced carbon intensity (the
level of greenhouse gas emissions compared to standard petroleum
fossil-based fuels across their lifecycle). Gevo’s products perform
as well or better than traditional fossil-based fuels in
infrastructure and engines, but with substantially reduced
greenhouse gas emissions. In addition to addressing the problems of
fuels, Gevo’s technology also enables certain plastics, such as
polyester, to be made with more sustainable ingredients. Gevo’s
ability to penetrate the growing low-carbon fuels market depends on
the price of oil and the value of abating carbon emissions that
would otherwise increase greenhouse gas emissions. Gevo believes
that its proven, patented technology enabling the use of a variety
of low-carbon sustainable feedstocks to produce price-competitive
low carbon products such as gasoline components, jet fuel, and
diesel fuel yields the potential to generate project and corporate
returns that justify the build-out of a multi-billion-dollar
business. Learn more at 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, which include statements relating to potential
production sites in Washington, 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 Gevo undertakes no
obligation to update or revise these statements, whether as a
result of new information, future events or otherwise. Although
Gevo 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, 2018, and in subsequent reports on Forms 10-Q
and 8-K and other filings made with the U.S. Securities and
Exchange Commission by Gevo.
Investor and Media Contact Shawn M.
Severson Integra Investor Relations +1 415-226-7747
info@integra-ir.com
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