Key Developments: Gevo Inc (GEVO.W)
1.68USD
17 May 2013
$0.04 (+2.44%)
$1.64
$1.65
$1.68
$1.63
500
2,405
$8.85
$1.38
Latest Key Developments (Source: Significant Developments)
Gevo Inc Receives Patent Covering Low-Cost Technology That Removes Isobutanol From Fermentation Broth
Gevo Inc announced that the United States Patent and Trademark Office (USPTO) has awarded the Company U.S. Patent No. 8,283,505, which protects Gevo's Integrated Fermentation Technology (GIFT). USPTO granted the '505 Patent in view of art cited against Gevo's earlier-issued U.S. Patent No. 8,101,808 in a reexamination request filed by Butamax Advanced Biofuels, LLC. Full Article
Gevo Inc Responds To The Status-Quo Order Dated July 7, 2012
Gevo Inc announced that it responded to a limited court order relating to the ButamaxTM Advanced Biofuels, LLC (Butamax) appeal of the U.S. District Court of Delaware’s decision to dismiss its Preliminary Injunction Motion. “We anticipated Butamax’s appeal and were satisfied to see that in denying the preliminary injunction request of Butamax the judge’s opinion ‘that plaintiff (Butamax) does not hold a valid patent, nor would the defendant (Gevo) infringe if it did’ remains intact,” said Brett Lund, Executive Vice President and General Counsel. “The judge did issue a temporary order while Butamax appeals to the Federal Court. Under the temporary order, Gevo remains free to operate in markets such as chemicals, jet fuel, marine fuel, small engine fuel and all other markets, except Gevo may not supply the automotive fuel blendstock market with biobased isobutanol from our Luverne facility during the appeals process. We disagree with that decision and have filed an appeal of the order. Testing for automobile fuels will continue, but with non-biobased isobutanol.” Full Article
Gevo Inc Announces Pricing Of Common Stock And Convertible Notes Offerings
Gevo Inc announced that it has priced its concurrent underwritten public offerings of common stock and 7.5% convertible senior notes due 2022. The Company announced that it has agreed to sell 12,500,000 shares of its common stock at a public offering price of $4.95 per share. The gross proceeds to the Company from this offering are expected to be $61,875,000, before deducting underwriting discounts and commissions and other estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an aggregate of 1,875,000 additional shares of common stock to cover over-allotments, if any. All of the shares in the common stock offering are to be sold by Gevo. The Company also announced the pricing of its public offering of $40,000,000 aggregate principal amount of 7.5% convertible senior notes due 2022. The gross proceeds to the Company from this offering are expected to be $40,000,000, before deducting underwriting discounts and commissions and other estimated offering expenses. The Company expects to use the net proceeds from the offerings to repay a portion of its outstanding long-term debt obligations, to fund the cash consideration payable to complete the retrofit of its Luverne, Minn. plant, and to partially fund the Redfield Energy retrofit. To the extent that the net proceeds are not used for these purposes, the Company intends to use them to fund working capital and for other general corporate purposes. Full Article
Gevo Inc Announces Proposed Public Offering Of Common Stock And Convertible Senior Notes
Gevo, Inc. announced that it intends to offer and sell, subject to market and other conditions, shares of its common stock and convertible senior notes due 2022. All of the shares in the common stock offering and convertible senior notes are to be sold by Gevo. Neither the completion of the common stock offering nor the convertible senior notes offering will be contingent on the completion of the other. Gevo expects to use the net proceeds from the offerings to repay a portion of its outstanding long- term debt obligations, to fund the cash consideration payable to complete the retrofit of its Luverne, Minn. plant, and to partially fund the Redfield Energy retrofit. To the extent that the net proceeds are not used for these purposes, the Company intends to use them to fund working capital and for other general corporate purposes. In connection with the offerings, UBS Securities LLC and Piper Jaffray & Co. are acting as joint book- running managers. Robert W. Baird is serving as co-manager for the common stock offering. Full Article
Gevo Inc and BioFuel Energy Corp. Announce Collaboration To Pursue Isobutanol Production
Gevo Inc Gevo Inc announced progress under a collaboration with BioFuel Energy Corp. to explore high-volume production of isobutanol. Although Gevo and Biofuel Energy signed a Development Agreement earlier this year, the companies only recently completed their preliminary evaluation of technical feasibility. The companies plan to continue working to develop production of isobutanol at an existing or future BioFuel plant. Specific objectives include a more rigorous assessment of technical feasibility and the development of timelines for engineering, regulatory approvals, financing and construction. The two companies will also explore the potential for seeking Advanced Biofuel status for isobutanol, which would allow domestic corn-based biofuels to compete more directly with biodiesel and imported ethanol produced from sugarcane. Full Article
Gevo Inc Signs Malaysian Collaboration To Produce Cellulosic Isobutanol For SE Asia
Gevo Inc announced that it has signed a collaborative agreement with the intent to site a cellulosic biomass isobutanol facility in Southeast Asia. Gevo’s President and Chief Operating Officer, Chris Ryan, signed the collaborative agreement with representatives from the Malaysian government’s East Coast Economic Region Development Council (ECERDC), Malaysian Biotechnology Corp (BiotechCorp) and the State Government of Terengganu. Full Article
Gevo, Inc. Receives U.S. Patent
Gevo, Inc. announced the award of its eighth U.S. patent. The U.S. Patent and Trademark Office granted Gevo U.S. Patent No. 8,158,404 (404 Patent) for the elimination of another key enzyme pathway in its isobutanol-producing yeast. This is one of three related patents covering technology which block unwanted enzymatic pathways that hijack carbohydrates in yeast. Full Article
Gevo Inc Receives Critical Patent Enabling Commercially Viable Yields Of Isobutanol Production From Yeast; Files Lawsuit Against Butamax Advanced Biofuels, LLC & Its Affiliate E.I. du Pont de Nemours
Gevo Inc announced that the United States Patent and Trademark Office granted U.S. Patent No. 8,153,415 (415 Patent) entitled “Reduced By-Product Accumulation for Improved Production of Isobutanol.” The ‘415 Patent covers technology which eliminates two pathways that compete for isobutanol pathway intermediates in yeast. The claimed modifications helped Gevo create a more efficient isobutanol-producing yeast. Gevo also announced it has filed a lawsuit against Butamax Advanced Biofuels, LLC (Butamax) and its affiliate E.I. du Pont de Nemours and Company. Butamax has publicly disclosed its use of Gevo’s claimed technology in several later-filed patent applications, including WO/2011/159853, paragraph 0265, and WO/2011/159998, paragraph 0226. Full Article
Gevo Inc Receives Key Patent Covering Critical Technology To Enable Commercially Viable Yields Of Isobutanol Production From Yeast
Gevo Inc announced today that the United States Patent and Trademark Office (USPTO) granted U.S. Patent No. 8,133,715, entitled “Reduced By-Product Accumulation for Improved Production of Isobutanol.” Full Article
The Coca-Cola Company And Gevo, Inc. Partner To Develop And Commercialize 100% Renewable Plastic Bottles
Gevo, Inc. announced a agreement with The Coca-Cola Company (Coca-Cola) to create renewable para-xylene from plant based isobutanol, which will accelerate the development of Coca-Cola’s second-generation PlantBottle packaging made from 100% plant-based materials. Gevo will work with Coca-Cola to enable and deliver an integrated system to produce renewable para-xylene, a key building block towards reaching Coca-Cola’s goal of creating all of their packaging from renewable materials. The work will take the technology from lab-scale to commercial scale and support Coca-Cola’s efforts to lead the beverage industry away from fossil-fuel based packaging by offering an alternative made completely from renewable resources. In this next generation of PlantBottle packaging, Coca-Cola plans to produce bottles entirely from renewable raw materials. Full Article
BRIEF-Gevo shares jump 14.6 percent in premarket
NEW YORK, March 20 - Gevo Inc : * shares jump 14.6 percent to $2.36 in premarket
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