Koch Project Solutions to Execute Gevo Expansion Projects
January 04 2021 - 09:00AM
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."
About Gevo
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.
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 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.
Investor and Media Contact
IR@gevo.com
+1 720-647-9605
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