Gevo Hires Citigroup to Assist with Financings
April 02 2020 - 9:00AM
Gevo, Inc. (NASDAQ: GEVO) announced today the engagement of
Citigroup Global Markets, Inc. (“Citigroup”) to assist Gevo in
exploring financing for its operations, including its projects.
Gevo is seeking financing to expand its production capabilities to
supply its renewable jet fuel and isooctane pursuant to Gevo’s
“take or pay” contracts with Delta Air Lines, Inc. and HCS Group
GmbH.
“We believe our projects make good economic sense based on the
contracts we have in place, and with what we expect in the future.
As we raise capital, we will be looking at all strategic options,
too. We believe that Citigroup, as a leading investment bank,
has a history of assisting companies in financings of the type we
need for our capacity buildouts” stated Pat Gruber, Chief Executive
Officer of Gevo.
About GevoGevo is commercializing the next
generation of jet fuel, gasoline and diesel fuel with the potential
to achieve zero carbon emissions and address the market need of
reducing greenhouse gas emissions with sustainable alternatives.
Gevo uses low-carbon renewable resource-based carbohydrates as raw
materials, and is in an advanced state of developing renewable
electricity and renewable natural gas for use in production
processes. As a result, Gevo is able to produce low-carbon fuels
with substantially reduced carbon intensity (as measured by the
level of greenhouse gas emissions compared to standard petroleum
fossil-based fuels across their lifecycle). Gevo’s products perform
as well or better than traditional fossil-based fuels in
infrastructure and engines, but with substantially reduced
greenhouse gas emissions. In addition to addressing the
environmental problems of fossil-based carbon 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 that enables the use of a variety of low-carbon
sustainable feedstocks to produce price-competitive, low carbon
products, such as jet fuel, gasoline components like isooctane and
isobutanol 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.
Forward-Looking StatementsCertain 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
Gevo’s hiring of Citigroup, Citigroup’s ability to secure the
capital needed by Gevo through financings, 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.
Investor and Media ContactShawn M. SeversonIntegra Investor
Relations+1 415-226-7747info@integra-ir.com
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