ENGLEWOOD, Colo., July 24, 2013 (GLOBE NEWSWIRE) -- Gevo, Inc. (Nasdaq: GEVO ) has begun supplying the U.S. Coast Guard R&D Center with initial quantities of finished 16.1% renewable isobutanol-blended gasoline for engine testing.
"Gevo's proprietary isobutanol-blended gasoline is truly a drop-in fuel, deliberately designed to be fully compliant with marine fuel specifications, including fit-for-purpose properties," said Patrick Gruber, Gevo's chief executive officer. "Isobutanol's low-water solvency and non-corrosive characteristics will offer consumers a high-performance, renewable biofuel ideally suited for a wide variety of marine engine applications."
The U.S. Coast Guard R&D Center is using the Gevo-blended fuel as part of a 12-month, long-term operational study on marine engines that began during June. The testing is being performed under a Cooperative Research and Development Agreement (CRADA) between the U.S. Coast Guard, Honda, and Mercury and will focus on two of the Coast Guard's platform boats – 38-foot Special Purpose Craft -Training Boat & 25-foot Response Boat - Small.
The US Coast Guard completed a 3 month round of testing in Florida earlier this year under the CRADA with Honda engines running on fuel supplied by Gevo which contained 16.1% renewable isobutanol. Engines were run at full throttle for an 8 hour day for several months and then broken down and inspected.
Mike Coleman, Project Manager at the USCG R&D Center stated: "We are pleased so far with our testing of isobutanol as a potential alternative to ethanol as a blend stock in gasoline for marine applications." Isobutanol is a biofuel that compared to ethanol, has higher energy density, lower RVP, and does not present phase separation issues seen with ethanol. "All testing so far has been positive, and when the Yorktown tests are completed next year, we expect to have the information available to allow a decision on whether 16.1% Isobutanol fuel blends will be certified for use in the Coast Guard gasoline engine fleet."
"This testing will validate isobutanol-blended gasoline as a clean-burning, homegrown, drop-in fuel for marine applications," Gruber added. "As we accelerate our full-scale commercial production efforts at the world's first renewable isobutanol plant in Luverne, Minn., we are extremely excited to be working with a partner like the U.S. Coast Guard to evaluate and develop a product line of high-performance, isobutanol-based fuel blends for the marine engine market."
Testing will take place at the U.S. Coast Guard Training Center in Yorktown, Va.
About Gevo
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., constructed in conjunction with ICM, a leading provider of proprietary ethanol process technology, and has a marquee list of partners including The Coca-Cola Company, Sasol Chemical Industries, 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 .
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 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, 2011, as amended, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Gevo.
Media Contact: Steve Halsey Gibbs & Soell for Gevo T: (212) 697-2600 Investor Contact: Chelsea DeLong PR & Marketing Coordinator T: (303) 588-6306
