Gevo signs commercial off-take agreement with Mansfield Oil Co

Gevo signs commercial off-take agreement with Mansfield Oil Co

2:16 AM, 9th September 2011
Gevo signs commercial off-take agreement with Mansfield Oil Co

 

ENGLEWOOD, US: Gevo Inc has entered into a strategic marketing alliance with Mansfield Oil Company, to efficiently distribute isobutanol based fuel into the petroleum market. In addition the companies signed a commercial off-take agreement, Gevo’s second commercial off-take agreement to date and its first in the fuel industry.

A part of a five-year contract allows Mansfield to blend Gevo’s isobutanol for its own use and to be a distributer of Gevo’s isobutanol. Also it has a three-year contract, under which a Mansfield subsidiary will provide supply chain services that include logistics management, customer service support, invoicing and billing services.

“Entering into our second commercial off-take agreement is an exciting milestone for us. Mansfield is an outstanding partner to help us both market and distribute our advanced biofuel product into a complex petroleum market,” said Christopher Ryan, President and COO, Gevo.

“We are impressed by Gevo’s unique approach to isobutanol development. We look to develop new fuels formulated with renewable isobutanol that expand the renewable content of the fuels we supply. This also addresses performance requirements seen in the recreation and marina markets that we supply,” said Doug Haugh, Executive VP, Mansfield Oil Company.

(C) WOC News

 

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