Gevo, Inc selling para-xylene derived from its renewable isobutanol Toray

Gevo to sell bio para-xylene to Toray

10:30 AM, 2nd June 2014
Gevo, Inc is selling para-xylene business to Toray

ENGLEWOOD, US: Gevo, Inc is selling para-xylene derived from its renewable isobutanol to Toray, one of the world’s leading producers of fibers, plastics, films, and chemicals. Para-xylene is a primary raw material for the manufacture of bio-polyester (PET). The ability to produce para-xylene as a building block for PET creates large market opportunities for Gevo and partners who desire bio-based plastic bottles, bio-based polyester fiber for apparel and textiles, and for many other products.

The para-xylene was sold under a previously announced offtake agreement with Toray. Toray also provided funding assistance for the construction of Gevo’s para-xylene demo plant at its biorefinery at South Hampton Resources, where Gevo also produces other hydrocarbon products such as renewable jet fuel and renewable iso-octane. Toray expects to produce fibers, yarns, and films from Gevo’s para-xylene, for scale-up evaluation and market development purposes. As a result of the shipment, Gevo will recognize revenue associated with both the sale of the para-xylene, as well as the initial funding assistance provided by Toray for the project. Gevo has also received support from The Coca-Cola Company for the development of its renewable para-xylene technology.

“We greatly appreciate the support that Toray and The Coca-Cola Company have provided Gevo in developing bio- para-xylene. This is a groundbreaking achievement that we are very proud to have accomplished. This demonstrates that bio-isobutanol is truly a building block for the renewable chemicals industry,” said Patrick Gruber, Chief Executive Officer, Gevo.

 

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