Target Markets Include Solvents and Specialty Chemicals
ENGLEWOOD, Colo., Jan. 12, 2015 (GLOBE NEWSWIRE) -- Gevo, Inc. (Nasdaq:GEVO), the world's only commercial producer of renewable isobutanol, announced it has launched sales of renewable isobutanol to Brenntag Canada Inc. (Brenntag Canada), a member of the Brenntag group companies for distribution into the solvents, oil & gas, mining and specialty chemicals markets. The initial market entry is focused on Canada. Brenntag Canada has purchased truckload quantities of isobutanol from Gevo for distribution to targeted customers.
"Many Brenntag Canada customers seek bio-based options in the solvents and specialty chemicals markets. It is a unique opportunity for us to be able to provide Gevo's renewable isobutanol as a premium priced bio-based option, particularly for the fast growing oil, gas, and mining industries," said Stephen Bushell, Director of National Supply for Brenntag Canada.
Greg Roda, Gevo's Executive Vice President and Chief Commercial Officer, said, "Our renewable isobutanol competes on price and performance with petroleum-based isobutanol but Gevo's isobutanol is a renewable, biodegradable, natural product made by fermentation. Due to its excellent chemical properties, it is ideal for use in the growing oil & gas, and mining market sectors and it is better for the environment."
Roda added: "We are very pleased to be working with such a great partner as Brenntag Canada. We believe the Canadian market is an exciting place to start selling into the chemicals market."
Brenntag, the global market leader in chemical distribution, is present on all major markets worldwide with its extensive ranges of products and services. Headquartered in Mülheim an der Ruhr, Germany, the company operates a global network with more than 480 locations in more than 70 countries. In 2013, the company generated global sales of EUR 9.8 billion (USD 13.0 billion) with more than 13,000 employees. Brenntag links chemical manufacturers and chemical users. The company supports its customers and suppliers with tailor-made distribution solutions for industrial and specialty chemicals. With over 10,000 products and a world-class supplier base, Brenntag offers one-stop-shop solutions to some 170,000 customers. These include specific application technology, extensive technical support and value-added services such as just-in-time delivery, mixing & formulation, repackaging, inventory management and drum return handling. Long-standing experience and local excellence in the individual countries characterize the global market leader for chemical distribution.
Gevo is a leading renewable technology, chemical products, and next generation biofuels company. Gevo's underlying technology uses a combination of synthetic biology, metabolic engineering, chemistry and chemical engineering to focus primarily on the production and sale of isobutanol, as well as related products from renewable feedstocks. Gevo's strategy is to commercialize biobased alternatives to petroleum-based products to allow for the optimization of fermentation facilities' assets, with the ultimate goal of maximizing cash flows from the operation of those assets. Gevo produces isobutanol, ethanol and high-value animal feed at its first fermentation plant in Luverne, MN.Gevo has also developed technology to produce hydrocarbon products from renewable alcohols. Gevo currently operates its first biorefinery in Silsbee, TX, in collaboration with South Hampton Resources Inc., to produce renewable jet fuel, octane, and ingredients for plastics like polyester. Gevo has a marquee list of partners including The Coca-Cola Company, Toray Industries Inc., Total SA and LANXESS, Inc., an affiliate of LANXESS Corporation, 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, 2013, 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:
Robin PeakGevo, Inc.
T: (720) 267-8632
Mike WillisGevo, Inc.
T: (720) 267-8636