4 advanced biofuel plants for Argentina as Porta, Gevo announce deal

Reaction from stakeholders

“Porta is a unique partner for Gevo, as they are expected to be both a direct isobutanol licensee, as well as a partner in building out isobutanol plants for other plant owners. We are excited to leverage their EPC expertise and their local Argentinian presence to accelerate the adoption of our isobutanol technology throughout Argentina, and potentially elsewhere in South America. By partnering with Porta, this will dramatically decrease the investment in engineering and business development resources that Gevo would otherwise have to deploy to roll out our technology in the region.  As a result, we anticipate any revenue derived from the Porta relationship to be high margin in nature,” said Dr. Patrick Gruber, Gevo’s Chief Executive Officer.

“We appreciate Porta’s desire to be the first direct licensee of Gevo’s isobutanol technology, as well as their agreement to be our EPC partner in Argentina.  Consequently, we have agreed to waive an up-front license fee for the first plant that is to be wholly-owned by Porta,” added Gruber.