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ENGLEWOOD, Colo., Oct. 07, 2019 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) a leading renewable fuels and chemicals manufacturer, announced today it has supplied sustainable aviation fuel (SAF) to further support carbon neutrality goals in the aviation industry.
Gevo’s customer and global fuel supplier, Avfuel Corporation, has partnered with fixed-base operator, Avflight Salina at Salina Regional Airport (KSLN) and Henderson Executive Airport (KHND) to provide sustainable aviation fuel (SAF) for aircraft headed to general aviation’s largest tradeshow: Business Aviation Convention & Exhibition (BACE).
Avfuel will supply a blend of Gevo’s SAF to Avflight to fuel operators headed to Las Vegas, Nevada beginning October 17. Avflight has commitments by high-profile manufacturers— Embraer, Textron Aviation and Dassault —to fuel with the sustainable product en route to BACE as well as from other private operators. Avfuel Corporation will be flying their sales team to and from Las Vegas on SAF, refueling at KSLN and KHND.
“Avfuel is doing a great job with these demonstrations. They are important because they show the viability of SAF, express to corporations that they have a choice when flying their corporate jets as well as educates other fixed based operators what is possible in what they provide their customers,” stated Patrick Gruber, Chief Executive Officer of Gevo.
To supply the fuel for this occasion, Avfuel acquired a concentrated delivery of SAF from Gevo, Inc.—a next-generation biofuels company—and blended it with petroleum-based jet fuel. This mixture is then tested for fuel quality and to ensure it meets all standards associated with jet fuel.
The product has a net benefit to the environment across its lifecycle. Created from corn starch, for every one million gallons of the concentrated SAF that is produced, approximately 10 million pounds of animal feed and protein is sold into the food chain, and the final jet fuel product burns cleaner, reducing carbon emissions released into the atmosphere.
Gevo is a next generation “low-carbon” fuel company focused on the development and commercialization of renewable alternatives to petroleum-based products. Low-carbon fuels reduce the carbon intensity, or the level of greenhouse gas emissions, compared to standard fossil-based fuels across their lifecycle. The most common low-carbon fuels are renewable fuels. Gevo is focused on the development and production of mainstream fuels like gasoline and jet fuel using renewable feedstocks that have the potential to lower greenhouse gas emissions at a meaningful scale and enhance agricultural production, including food and other related products. In addition to serving the low-carbon fuel markets, through Gevo’s technology, Gevo can also serve markets for the production of chemical intermediate products for solvents, plastics, and building block chemicals. Learn more at our website: 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 relate to a variety of matters, including, without limitation, statements related to the Avfuel demonstration event 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 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.
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Shawn M. Severson
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