Gevo signs licensing, joint development agreement with Praj

Gevo signs licensing, joint development agreement with Praj

6:12 AM, 16th November 2015
Gevo signs licensing, joint development agreement with Praj

ENGLEWOOD, US: Gevo Inc said it has entered into a license agreement and a joint development agreement with Praj Industries Ltd to enable the licensing of Gevo’s isobutanol technology to processors of non-corn based sugars, including the majority of Praj’s global customer base of ethanol plant owners.

Praj will market Gevo’s isobutanol technology and also provide the engineering, procurement and construction (EPC) services for such projects. Gevo and Praj expect to license up to 250 million gallons of biobutanol capacity over the next ten years under this partnership. In addition to its process design packages (PDP) development, Praj will also contribute engineering services to optimize Gevo’s Luverne facility.

Praj will invest substantial resources in the development and optimization of Gevo’s isobutanol technology for use with non-corn feedstocks including sugar cane, sugar beets, cassava, rice, sorghum, wheat and certain cellulosic sugars.

This development work is anticipated to lead to PDP that would be expected to accelerate the licensing of Gevo technology to processors of these, particularly in Praj’s extensive customer base.

“We believe that the potential for isobutanol is significant. We look forward to creating a profitable opportunity for first generation ethanol plant owners, as well as accelerating the use of second generation cellulosic feedstocks to produce isobutanol,” said Pramod Chaudhari, executive chairman, Praj.

“Praj shares the vision of Gevo of making bio-based products for chemicals and fuels, adding value to existing alcohol plants. Licensing is expected to be a key growth area for Gevo, and we very much look forward to Praj being one of Gevo's key partners in rolling out our technology globally,” said Dr Patrick Gruber, CEO, Gevo.

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