Search Results for 'gevo'

Butamax will pay attorneys’ fees for Gevo litigation

In Delaware, Butamax’s victory in Gevo’s lawsuit for copyright infringement will still cost the company, as the judge in the case refused to award attorneys’ fees to Butamax. According to US District Court Judge Sue Robinson, Gevo hadn’t pointlessly filed suit against Butamax, leaving the latter financially responsible for its attorneys’ fees. The lawsuit, which […]

August 28, 2014 More

Gevo boosts revs in Q2, but losses widen; aims for break-even at Luverne by year end

In Colorado, Gevo announced a net loss for Q2 2014 of $17.2 million compared to $15.2M during Q2 2013, on Q2 revenues of $7.7M compared to $1.9M for Q2 2013. The increase in revenue during 2014 is primarily a result of the production and sale of ethanol and distiller’s grains of $5.5 million following the […]

August 20, 2014 More

Gevo expects Lucerne plant to break even by end of 2014

In Minnesota, Gevo expects that its second-generation ethanol and isobutanol plant in Lucerne will break even by the end of 2014. It expects to produce 1 million gallons of isobutanol by the end of the year and 3 million gallons by the end of 2015. The facility also produces 18 million gallons of ethanol.  

August 4, 2014 More

Gevo sells $18 million in stock to fund Luverne project completion

In Colorado, Gevo announced that it has priced its underwritten public offering of common stock units. Gevo announced that it has agreed to sell 30,000,000 common stock units. Each common stock unit consists of one share of common stock and a warrant to purchase 0.5 shares of common stock, at a public offering price of […]

July 31, 2014 More

Gevo reports targeting “break-even at Luverne by year-end”.

“By running the SBS we have dramatically reduced our cash burn at the plant and we are targeting breakeven at Luverne by year end,”  Gevo CEO Pat Gruber is reporting. Gevo also reported that Isobutanol yields have reached >90% of target based on starch content, up from approximately 70% prior to running its new side-by-side […]

July 30, 2014 More

All-renewable plastic bottles creep closer: Gevo shipping renewable PX to Toray

  Major step towards stable commercial supply chain for 100% renewable plastic bottling; big step forward for Gevo’s Silsbee operations in paraxylene, jet fuel and iso-octane. From Colorado, news has arrived that Gevo is now selling paraxyleme to Toray, one of the world’s leading producers of fibers, plastics, films, and chemicals. It’s producing PX from […]

June 2, 2014 More

Gevo reports $12M loss for Q1, starts up ethanol ops to slow cash burn

In Colorado, Gevo reported a net loss for Q1 2014 of $12.0M, compared to $18.4M for Q1 2013, on revenues of $900,000. The company completed Q1 with $8.4M on hand, though it closed a $25.9M private debt financing with Whitebox Advisors consisting of a senior secured term loan, exchangeable into senior secured convertible debentures, and […]

May 15, 2014 More

Gevo raises $25.9M via senior debt from Whitebox Advisors

In Colorado, Gevo announced the closing of a $25.9M financing with Whitebox Advisors consisting of a senior secured term loan exchangeable into senior secured convertible debentures. Gevo also has an option to draw an additional $5.2 million if certain conditions are met. The Term Loan includes a first priority lien on all of the Company’s assets […]

May 11, 2014 More

Gevo teams with Lufthansa to test aviation biofuel

In Colorado, Gevo announced that it has come to an agreement with Lufthansa to evaluate Gevo’s renewable jet fuel with the goal of approving Gevo’s alcohol-to-jet fuel (ATJ) for commercial aviation use. Lufthansa’s testing is being supported through work with the European Commission.

April 23, 2014 More

Gevo inserts “going concern” statement in annual report

In Colorado, Gevo filed its 10-K annual report with the SEC. Excepts are as follows: “For the year ended December 31, 2013, we incurred a consolidated net loss of $66.8 million and had an accumulated deficit of $262.2 million. From inception to December 31, 2013, we have incurred significant net losses and have funded our […]

April 15, 2014 More