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Gevo’s Wind Towers to Begin Commercial Operation on May 1st
Gevo’s two wind turbines will officially be placed into service on May 1, 2020, staging the Luverne Facility plant for lower carbon transportation fuels
About this update from Gevo, Inc.
[{"type":"text","content":"Gevo’s two wind turbines will officially be placed into service on May 1, 2020, staging the Luverne Facility plant for lower carbon transportation fuels\nENGLEWOOD, Colo., April 29, 2020 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) announced that the two wind turbines that will supply up to 5.0 MW of fully renewable electricity to Gevo’s production facility located in Luverne, MN (the “Luverne Facility”) are being placed into service and will begin delivering energy. The electricity generated from wind is wired directly to the Luverne Facility, which is expected to enable the Luverne Facility to utilize the emissions-free energy to produce fuel in the future with a lower carbon intensity score under the Low Carbon Fuel Standard in California.\n A special thanks to all who have helped to make this project possible, including: Juhl Energy, local landowners, City of Luverne, Rock County, Faith Technologies, First Farmers and Merchants Bank, Missouri River Energy Services, and GE. 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 c...