Gevo, Redfield Energy form JV ethanol-to-isobutanol retrofit

Gevo, Redfield Energy form JV for ethanol-to-isobutanol retrofit

5:11 PM, 17th June 2011
Gevo, Redfield Energy form JV for ethanol-to-isobutanol retrofit

The joint venture brings company closer to achieving 2015 production goal of 350 MGPY of isobutanol.

ENGLEWOOD, US: Gevo Inc has entered into a joint venture with Redfield Energy, to retrofit Redfield’s existing ethanol plant into an isobutanol plant with an expected production capacity of approximately 38 million gallon per year (MGPY). The retrofit is expected to commence by year end 2011 and Gevo expects to begin commercial production of isobutanol at the facility in the fourth quarter of 2012.

“This transaction demonstrates the attractiveness of our joint venture model for potential partners. Isobutanol production creates more value and across diversified markets,” reflected Patrick Gruber, CEO, Gevo.

Gevo will provide the technology and capital necessary to retrofit Redfield’s existing 50 MGPY ethanol facility and in exchange, will receive an equity interest in Redfield. This JV validates the attractive economics for both Gevo and Redfield and is consistent with Gevo’s business plan.

“Isobutanol provides an excellent opportunity to expand our potential markets, improve our profit margins and create a more predictable and sustainable business. We are very happy to be working with Gevo to upgrade our facility to a second-generation biorefinery,” said Tom Hitchcock, CEO, Redfield.

(C) WOC News

 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Ethanol industry criticizes Coburn

WASHINGTON DC, US: The ethanol industry is criticizing Senator Tom Coburn’s (R-OK) amendment to eliminate the Volumetric Ethanol Excise Tax Cred ...

Read more
BASF crop protection pipeline value touches € 2.4 billion

LUDWIGSHAFEN, GERMANY: The value of the BASF Crop Protection pipeline jumped to € 2.4 billion, an increase of € 200 million compared to 20 ...

Read more
Westlake to increase ethylene capacity in US

HOUSTON, US: Westlake Chemical Corporation  announced an expansion programme to increase the ethane-based ethylene capacity at Lake Charles, LA. ...

Read more
Praxair reports rise in profits, benefits from emerging markets

Sales of $ 2.7 billion, 11 per cent above prior-year quarter Diluted EPS of $ 1.29, up 18 per cent  Strong pipeline of growth projects in eme ...

Read more
Badger Licensing gets contract for EBSM Project in Egypt

CAMBRIDGE, US: Badger Licensing LLC, a joint venture of affiliates of The Shaw Group and Exxon Mobil Chemical Company, a division of Exxon Mobil Corpo ...

Read more
Lanxess to relocate to Cologne

New group headquarters on Deutzer Freiheit Move to Cologne in 2013 with more than 1,000 employees LEVERKUSEN/COLOGNE, GERMANY: The MDAX compan ...

Read more