Gevo Proceeds to Next Stage of ASTM Biojet Fuel Testing
Englewood, CO—June 22, 2011— Gevo, Inc. (NASDAQ: GEVO), a leading renewable chemicals and advanced biofuels company, today announced that it presented positive test results from fit for purpose testing of the Company’s biojet fuel to ASTM’s alcohol-to-jet task force. The task force consists of technical experts from a wide stakeholder group including jet engine manufacturers, governmental bodies, fuel manufacturers, third party testing laboratories, academics and airframe manufacturers. Upon reviewing the results of the test, which was conducted by a nationally recognized research and development laboratory and the Air Force Research Lab, the task force had no objection to Gevo proceeding to jet engine testing, the next phase in the certification process. Full certification of Gevo’s biojet fuel is expected in 2013.
“This is an extremely important step forward in the stage-gate approval process,” said Glenn Johnston, Vice President of Regulatory Affairs at Gevo. “We are gratified that our colleagues on the task force cleared us to move forward with our biojet fuel certification effort.”
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
Notice Regarding 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. Such statements relate to a variety of matters, including but not limited to the company’s receipt of full certification for its biojet fuel, the timing associated with such certification, and other statements that are not purely statements of historical fact. 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, 2010, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Gevo.