Gevo, Inc. and HCS Group have entered right into a long-term, definitive, binding and bankable renewable isooctane buy and sale settlement.
HCS Group shall be provided solely for gross sales of Gevo’s renewable isooctane into high-end purposes starting from excessive purity solvents to specialty fuels beneath its Haltermann Carless model, excluding use of isooctane for on-road transportation fuels.
Gevo’s renewable isooctane is a low-carbon, drop-in mixing part for gasoline and has the potential to cut back greenhouse gases by as a lot as 70%, effectively throughout the requirements established by the EU Renewable Power Directive.
This long-term, binding buy and sale settlement with HCS Group is a vital step ahead in Gevo’s previously-announced technique to construct out Gevo’s superior biofuels manufacturing facility in Luverne, Minnesota, to extend the manufacturing of renewable isobutanol and renewable jet gas in addition to isooctane.
Pursuant to the phrases of the settlement, Gevo will provide low-carbon, renewable isooctane to HCS Group over ten years if sure circumstances are met, together with the enlargement of Gevo’s isooctane manufacturing capabilities at its superior biofuels manufacturing facility in Luverne.
We have now been impressed with the standard and the consistency of Gevo’s renewable isooctane, proving its worth in probably the most demanding, high-end race gas purposes This long-term settlement and the capability enlargement allows us to fulfill rising demand for our sustainable ECO merchandise in mass markets pushed by world, blue-chip accounts. We see robust curiosity for our superior bio-based merchandise within the out of doors energy tools and the cosmetics industries in addition to in a wider vary of gas purposes.—Dr. Uwe Nickel, CEO of HCS Group
HCS Group is a number one world supplier of options for top worth specialty hydrocarbons and is lively in a broad vary of markets, resembling automotive, pharmaceutical and agrochemicals. HCS Group, with its key model Haltermann Carless, operates a community of 9 cutting-edge services for refining, processing and mixing in Germany, the UK, France and within the US.
Gevo is a next-generation low-carbon gas firm targeted on the event and commercialization of renewable alternate options to petroleum-based merchandise. Gevo is targeted on the event and manufacturing of mainstream fuels resembling gasoline and jet gas utilizing renewable feedstocks which have the potential to decrease greenhouse fuel emissions at a significant scale and improve agricultural manufacturing, together with meals and different associated merchandise.
Along with serving the low-carbon gas markets, by way of Gevo’s know-how, Gevo may serve markets to supply chemical intermediate merchandise for solvents, plastics, and constructing block chemical substances.