Gevo Hires Dr. Paul Bloom as Chief Technology Officer and Chief Innovation Officer
Gevo, Inc. (NASDAQ: GEVO) has appointed Dr. Paul Bloom as Chief Technology Officer and Chief Innovation Officer. Dr. Bloom brings over 20 years of experience from Archer Daniels Midland Company, where he held roles in sustainable materials and technology commercialization. CEO Dr. Patrick R. Gruber expressed optimism about Dr. Bloom's expertise in developing renewable chemicals and materials. Gevo aims to produce low-carbon fuels and sustainable plastics, leveraging its patented technology to create a significant market presence and reduce greenhouse gas emissions.
- Appointment of Dr. Paul Bloom expected to enhance Gevo's technological and business development capabilities in renewable chemicals.
- Dr. Bloom's experience aligns with Gevo's focus on sustainable materials, potentially driving growth in the low-carbon fuels market.
- Dependence on fluctuating oil prices and carbon abatement values may impact Gevo's market penetration and profitability.
ENGLEWOOD, Colo., March 22, 2021 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO), is pleased to announce that Dr. Paul Bloom has joined Gevo as its Chief Technology Officer and Chief Innovation Officer. Dr. Bloom served the last 20 years in a series of commercial and technical roles at Archer Daniels Midland Company (ADM). Most recently, Dr. Bloom was the Vice President of Sustainable Materials and was previously the General Manager of Evolution Chemicals, where he led development and commercialization activities for the company's portfolio of renewable chemicals. In addition, he had global responsibility for the company's pipeline of new process technologies and partnerships with the chemical industry.
"I'm pleased to have Paul Bloom join us. He brings strong technical depth, and business development experience, which we expect to use as we develop the renewable chemicals and materials side of our business," said Dr. Patrick R. Gruber, Gevo's Chief Executive Officer. Dr. Gruber continued, "Paul has seen what works and what doesn't in the space of renewable chemicals, plastics, and fuel. We are fortunate to have him join our team."
"I've evaluated and commercialized multiple technologies through the years. I believe Gevo has excellent technology to tackle greenhouse gas emissions. Drop-in, net-zero hydrocarbon fuel products are desperately needed and will make a difference in the transportation sector. Gevo's portfolio also contains renewable chemical materials that can address unmet needs for the circular economy. For example, these high-performance, plant-based products could go into the automotive industry, durable goods, and consumer products," said Dr. Bloom. "The potential, in my opinion, is large to help provide more sustainable alternatives to customers and consumers while delivering superior performance. I'm excited to be part of the Gevo team and look forward to helping Gevo grow," Dr. Bloom added.
About Gevo
Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel, and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full lifecycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their lifecycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented, technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low carbon products such as gasoline components, jet fuel, and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.
Gevo believes that Argonne National Laboratory GREET model is the best available standard of scientific based measurement for life cycle inventory or LCI.
Learn more at Gevo’s website: www.gevo.com
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the hiring of Dr. Paul Bloom, Gevo’s technology, Gevo’s products, Gevo’s ability to produce products with “net-zero” Greenhouse Gas emissions, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.
Investor and Media Contact
+1 720-647-9605
IR@gevo.com
FAQ
Who is the new Chief Technology Officer of Gevo?
What experience does Dr. Paul Bloom bring to Gevo?
What is Gevo's mission in renewable energy?
What challenges does Gevo face in the market?
What are Gevo's plans regarding sustainable materials?
