ENGLEWOOD, Colo., Aug. 21, 2024 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO ) announced that it has entered into a purchase agreement with Shell Global Solutions Deutschland GmbH (“Shell”) for its low-carbon fuel blend. in motorsport. Gevo’s renewable blend is suitable for premium motorsport fuels, proving that durability and top performance go hand in hand.
Starting with performance, Gevo’s low-carbon fuel blend oils are expected to meet the rigors of grueling racing schedules while offering better net energy storage and lower CO2 emissions.
Gevo is committed to reducing carbon dioxide. By producing high-performance racing fuel blends from sustainable raw materials such as agricultural waste that meet Annex IX requirements of the EU’s Renewable Energy Directive, Gevo is developing an important component for a low-carbon fuel solution.
“This is an important step towards a sustainable future,” says Damien Perriman, Gevo’s Business Development Director. “The racing industry excites and inspires, and its massive audience understands what technology can do to enhance the human experience. Leading companies around the world look to Gevo to deliver net zero fuels and chemicals. With products such as renewable fuels for all vehicles, specialty lubricant additives and sustainable chemicals that replace obsolete technologies, Gevo is excited to drive this change.
Matthias Mundt, portfolio director of Shell’s Fuels Technology Future Mobility Portfolio, says: “As a supplier of specialty fuels to racing series around the world, Shell is focused on improving durability and maximizing efficiency and performance, such as with 100% renewable racing fuel. We developed for the NTT INDYCAR Series. We are delighted to partnered with Gevo to explore the possibilities offered by their low-carbon products.
About Gevo
Gevo’s mission is to transform renewable energy and biogenic carbon into sustainable fuels and chemicals with a zero or better carbon footprint. Gevo’s innovative technology can be used to manufacture a wide range of products, including sustainable aviation fuel (“SAF”), motor fuels, chemicals and other materials. Gevo’s business model includes the development, financing and operation of production facilities for these renewable fuels and other products. It currently operates one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States. It also owns the world’s first ATJ fuels and chemicals production facility. Gevo emphasizes the importance of sustainability by monitoring and verifying the carbon footprint of its business systems through its Verity subsidiary.
For more information, visit www.gevo.com.
Forward-looking statement
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, Shell and its subsidiaries, Gevo’s products and their performance, and other statements that are not purely historical facts. These forward-looking statements are based on the current beliefs, expectations and assumptions of Gevo’s management and involve significant risks and uncertainties. Investors are cautioned not to place undue reliance on 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 expressed in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that could cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For more information on risks and uncertainties that may cause actual results to differ from those presented in these forward-looking statements, as well as risks related to Gevo’s business in general, see the risk information in the annual report on form 10-K of Gevo for the year ended 12/31/2023 and in subsequent reports 10-Q and 8-K- forms and other notifications made by Gevo to the US Securities and Exchange Commission.
Media Contact information
Lindsay Fitzgerald
SVP, Public Affairs
PR@gevo.com
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