ENGLEWOOD, Colo., April 30, 2013 (GLOBE NEWSWIRE) -- Gevo, Inc. (Nasdaq:GEVO) announced today that it has been issued a new patent, U.S. Patent No. 8,431,374 ('374 Patent), covering the foundational methods for low-cost isobutanol production at commercially relevant titer, productivity, and yields.
"This is a milestone achievement toward our goal of making commercial isobutanol a reality," said Brett Lund, Gevo's executive vice president and general counsel. "Titer, productivity, and yield are three of the key metrics needed to sustain an economically viable process for isobutanol production. This patent broadly protects methods of producing isobutanol at economically viable levels. Prospective producers of isobutanol cannot achieve commercially viable production without access to our '374 Patent."
"This patent significantly strengthens Gevo's intellectual property position and reinforces our unmatched ability to obtain dramatic improvements in commercially-viable isobutanol production," added Lund. "We will continue to take the steps necessary to protect and maintain the integrity of our industry-leading technology."
This is the tenth U.S. patent granted to Gevo within its biocatalyst portfolio. Gevo's patent portfolio includes more than 450 patents and patent applications.
Gevo is a leading renewable chemicals and next-generation biofuels company. Gevo's patent-protected, capital-light business model converts existing ethanol plants into bio-refineries to make isobutanol. This versatile chemical can be directly integrated into existing chemical and fuel products to deliver environmental and economic benefits. Gevo has executed initial commercial-scale production runs at its isobutanol facility in Luverne, Minn., and has a marquee list of partners including Coca-Cola, Sasol, and LANXESS, among others. Gevo is committed to a sustainable bio-based economy that meets society's needs for plentiful food and clean air and water. For more information, visit www.gevo.com.
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, 2012, as amended, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Gevo.
CONTACT: Media Contact:
Gibbs & Soell for Gevo
T: (212) 697-2600
PR & Marketing Coordinator
T: (303) 588-6306