Gevo announces 2015 Q4 results, to restart isobutanol production at Luverne facility

April 4, 2016 |

In Colorado, Gevo announced its FY 2015 Q4 results with revenue of $7.3 million for the quarter. The company also announced it would resume isobutanol production at its Luverne, Minnesota plant, which it paused in 2015 in order to perform $5 million in upgrades to the facility. The plant maintains a target of up to 1 million gallons of isobutanol in 2016 and expects the production cost to go down to $3.00- $3.50 per gallon, with an expected average selling price of $3.50- $4.50/ gallon.

Other highlights from the Q4 report include:

  1. The company entered into a license agreement and joint development agreement with Porta Hnos S.A. to construct new isobutanol plants in Argentina using corn as a feedstock. The first facility is anticipated to begin production in 2017.
  2. The ASTM International Committee approved the revision of the standard for aviation fuels to include alcohol to jet (ATJ) aviation biofuels derived from renewable isobutanol.
  3. EPS of $0.44, cash and cash equivalents of $17 million, and non-GAAP cash EBITDA loss of $4.2 million

More on the story.

Print Friendly, PDF & Email

Tags: , , ,

Category: Fuels

Thank you for visting the Digest.