Bombardier Adopts Gevo’s Sustainable Aviation Fuel for New Aircraft Deliveries in Canada
ENGLEWOOD, Colo., Dec. 02, 2019 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) Avfuel Corporation—a global supplier of aviation fuel and services—has begun delivery of Gevo’s sustainable aviation fuel (SAF) to Bombardier for new customer aircraft deliveries in Canada.
“We are committed to playing our role in making SAF a reality in the marketplace—one of the best ways to do that at the moment is by demonstrating its use,” said C.R. Sincock, executive vice president for Avfuel. “By capitalizing on opportunities to work with leading OEMs, Avfuel can help business aviation attain its sustainability goals. We appreciate Bombardier for its collaboration in this initiative and for our continued partnership with Gevo.”
“We applaud Bombardier and Avfuel for their efforts to make this a reality. We look forward to continuing to support their efforts to a greater sustainable representation in the fuel supply chain,” commented Patrick Gruber, chief executive officer of Gevo.
About Gevo Gevo is commercializing the next generation of gasoline, jet fuel and diesel fuel with the potential to achieve zero carbon emissions, addressing 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, resulting in low-carbon fuels with substantially reduced carbon intensity (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 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 Avfuel Corporation Avfuel provides fuel and services to the global aviation industry and is the leading independent supplier in the United States. Established as a supply and logistics company more than 45 years ago, Avfuel is core competent in every aspect that surrounds the delivery of fuel—from refinery to wingtip. Avfuel combines global access with personalized service throughout a fueling network of more than 3,000 locations worldwide and 650+ Avfuel-branded dealers. Our 100% dedication to aviation demonstrates our passion and commitment to a global community that prospers on the movement of goods and services around the world.
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 Avfuel, the supply of SAF to Bombardier 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, 2018 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 Shawn M. Severson Integra Investor Relations +1 415-226-7747 [email protected]
Source: GlobeNewswire
(December 2, 2019 - 9:00 AM EST)
