The stock moved on its earnings release and was also fueled by high oil prices that have driven several biofuel stocks and renewable energy stocks to higher levels in recent trading.
The Company reported on the close on Tuesday its financial results for the fourth quarter and fiscal year ended December 31, 2011 and updated its expectations for isobutanol commercialization.
“We are on the cusp of commercializing renewable isobutanol,” said Dr. Patrick Gruber, Chief Executive Officer. “The retrofit of our Luverne plant continues on track to start commercial scale production of renewable isobutanol in the first half of this year. We are incorporating our learnings from this retrofit into the ongoing detailed design of the Redfield Energy retrofit in South Dakota. The renewable isobutanol produced at these plants is primarily targeted for sale under our off-take agreement with Sasol Chemical Industries Ltd. serving the specialty chemicals market.”
Gevo (NASDAQ: GEVO) is converting existing ethanol plants into biorefineries to make renewable building block products for the chemical and fuel industries. The company plans to convert renewable raw materials into isobutanol and renewable hydrocarbons that can be directly integrated on a “drop in” basis into existing chemical and fuel products to deliver environmental and economic benefits. Gevo is committed to a sustainable biobased economy that meets society’s needs for plentiful food and clean air and water. For more information, please visit www.gevo.com.
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