ENGLEWOOD, Colo., Jan. 04, 2021 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) announced today that it has engaged Koch Project Solutions, LLC ("Koch") to provide front end engineering, design and project execution management services for the expansion projects that Gevo is in the process of financing with Citigroup Global Markets, Inc.
"The world is changing rapidly. We appreciate being able to tap into Koch Project Solutions, a subsidiary of Koch Industries, and their vast experience. Gevo's focus is on drop-in renewable resource-based hydrocarbons with a massively reduced carbon footprint. These hydrocarbons are the same as those derived from fossil-based oil, except that we make them from renewable resources. Because we use renewable resources, we can see how to reduce and eliminate tailpipe emissions, on a net-carbon basis and also reduce or even eliminate the pollutants that contribute to smog," said Patrick Gruber, CEO of Gevo Incorporated.
"We are excited to bring Koch resources to bear on the advancement of Gevo's low-carbon hydrocarbons," said Paul Switzer, President of Koch Project Solutions, "Gevo and Koch Project Solutions have forged a beneficial partnership that will deliver this valuable technology at a meaningful scale. It fits well into the Koch vision to help deliver superior societal benefits from existing feedstocks."
Gevo is a company with technology to transform renewable energy into low carbon liquid transportation fuels. This next generation of renewable premium gasoline, jet fuel and diesel fuel has the potential to achieve zero carbon emissions, addressing the market need of reducing greenhouse gas emissions with sustainable alternatives. By capturing photosynthetic energy along with renewable carbon, using a mixture of renewable energy sources, Gevo uses proprietary technology to produce the hydrocarbons for gasoline, jet fuel, and diesel fuel in the future. Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but have the potential to reduce or even eliminate the net tailpipe greenhouse gas emissions from cars, planes, and trucks. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented, technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low carbon products such as gasoline components, jet fuel, and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business. Learn more at our website: www.gevo.com.
About Koch Project Solutions
Koch Project Solutions strives to be the preferred partner for capital project execution. Built on a foundation of safety, Koch Project Solutions partners with project owners to develop customized execution and contracting strategies designed to maximize the return on investment. Koch Project Solutions is a part of Koch Engineered Solutions providing world-class services and technologies broadly across industrial sectors. Superior Outcomes. Consistently Delivered. Learn more at our website: www.kochprojectsolutions.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 engagement of Koch Project Solutions, LLC, Gevo's expansion projects, Gevo's ability to finance its expansion projects and business, Gevo's business plans 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, 2019, 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.