Gevo, Inc. Provides an Update on the Operations of Its Production Facility in Luverne, Mn for the Fourth Quarter and Full Year of 2016
January 09, 2017 at 07:30 pm IST
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Gevo, Inc. provided an update on the operations of its production facility in Luverne, MN, for the fourth quarter and full year of 2016. For the quarter, the company produced approximately 190,000 gallons of isobutanol, representing an annualized rate of over 750,000 gallons per year; Surpassed production cost targets, demonstrating variable costs of production of less than the targeted $3.00-3.50 per gallon1; and Ethanol production continued to operate well in the SBS configuration of the plant, with 2.8 million gallons of ethanol produced in the quarter.
For the year, the volume of isobutanol production was approximately 440,000 gallons, below the previously announced estimate of approximately 500,000 gallons.
Gevo, Inc. is a carbon abatement company focused on transforming renewable energy into energy-dense liquid hydrocarbons that can be used as renewable fuels, such as sustainable aviation fuel. The Company operates in three segments. The Gevo segment is focused on research and development activities related to the production of SAF, commercial opportunities for other renewable hydrocarbon products, such as renewable natural gas, hydrocarbons for gasoline blendstocks and diesel fuel, and plastics, materials, and other chemicals. Gevo segment also develops, maintains, and protects its intellectual property portfolio, provides corporate oversight services, and is responsible for development and construction of its Net-Zero Projects. The Agri-Energy segment is engaged in the operation of its Luverne facility and the development of the production of isobutanol, ethanol and related products. The Renewable Natural Gas segment produces-pipeline quality methane gas captured from dairy cow manure.