Gevo to Supply Renewable Hydrocarbon-Based Low-Carbon Intensity Racing Fuel Blendstock to Shell
Gevo, Inc. (NASDAQ: GEVO) has announced a significant purchase agreement with Shell Global Solutions Deutschland GmbH for its low-carbon intensity fuel blendstock to be used in motorsports. This renewable blendstock, derived from sustainable feedstocks like agricultural waste, is designed to meet the demanding requirements of racing while offering enhanced net-energy storage and lower carbon emissions.
The agreement aligns with Gevo's commitment to carbon abatement and demonstrates that sustainability and peak performance can coexist in motorsports. Gevo's Chief Business Development Officer, Damien Perriman, emphasized the importance of this step towards a sustainable future, highlighting the company's role in delivering net-zero fuels and chemicals across various industries.
Gevo, Inc. (NASDAQ: GEVO) ha annunciato un importante accordo di acquisto con Shell Global Solutions Deutschland GmbH per il suo miscela di carburante a bassa intensità di carbonio da utilizzare nelle competizioni motoristiche. Questa miscela rinnovabile, derivata da materie prime sostenibili come i rifiuti agricoli, è progettata per soddisfare i requisiti rigorosi delle corse offrendo una maggiore capacità di immagazzinamento di energia netta e minori emissioni di carbonio.
L'accordo si allinea con l'impegno di Gevo per la riduzione del carbonio e dimostra che sostenibilità e prestazioni ottimali possono coesistere nelle competizioni motoristiche. Damien Perriman, Chief Business Development Officer di Gevo, ha sottolineato l'importanza di questo passo verso un futuro sostenibile, evidenziando il ruolo dell'azienda nel fornire carburanti e prodotti chimici a emissioni nette zero in vari settori.
Gevo, Inc. (NASDAQ: GEVO) ha anunciado un importante acuerdo de compra con Shell Global Solutions Deutschland GmbH para su mezcla de combustible de baja intensidad de carbono que se utilizará en deportes de motor. Esta mezcla renovable, derivada de materias primas sostenibles como residuos agrícolas, está diseñada para cumplir con los exigentes requisitos de las carreras al tiempo que ofrece un almacenamiento de energía neta mejorado y menores emisiones de carbono.
El acuerdo se alinea con el compromiso de Gevo con la reducción de carbono y demuestra que la sostenibilidad y el máximo rendimiento pueden coexistir en los deportes de motor. Damien Perriman, Director de Desarrollo Comercial de Gevo, enfatizó la importancia de este paso hacia un futuro sostenible, destacando el papel de la empresa en la entrega de combustibles y productos químicos de emisiones netas cero en diversas industrias.
Gevo, Inc. (NASDAQ: GEVO)는 모터스포츠에 사용될 저탄소 연료 혼합물에 대해 Shell Global Solutions Deutschland GmbH와 중요한 구매 계약을 체결했다고 발표했습니다. 이 재생 가능한 혼합물은 농업 폐기물과 같은 지속 가능한 원료에서 유래되며, 레이싱의 까다로운 요구 사항을 충족하도록 설계되었으며, 향상된 순 에너지 저장 수능과 낮은 탄소 배출을 제공합니다.
이번 계약은 Gevo의 탄소 감축에 대한 헌신과 지속 가능성 및 최고 성능이 모터스포츠에서 공존할 수 있음을 보여줍니다. Gevo의 사업 개발 책임자 Damien Perriman은 지속 가능한 미래를 위한 이 단계의 중요성을 강조하며 다양한 산업에 걸쳐 넷 제로 연료 및 화학 물질을 제공하는 회사의 역할을 강조했습니다.
Gevo, Inc. (NASDAQ: GEVO) a annoncé un important accord d'achat avec Shell Global Solutions Deutschland GmbH pour sa mélange de carburant à faible intensité carbone à utiliser dans les sports mécaniques. Ce mélange renouvelable, dérivé de matières premières durables comme les déchets agricoles, est conçu pour répondre aux exigences strictes des courses tout en offrant un stockage d'énergie nette amélioré et de faibles émissions de carbone.
Le contrat s'inscrit dans l'engagement de Gevo en faveur de la réduction du carbone et démontre que durabilité et performances maximales peuvent coexister dans le secteur des sports mécaniques. Damien Perriman, directeur du développement commercial de Gevo, a souligné l'importance de cette étape vers un avenir durable, mettant en avant le rôle de l'entreprise dans la fourniture de carburants et produits chimiques à émissions nettes nulles dans divers secteurs.
Gevo, Inc. (NASDAQ: GEVO) hat einen bedeutenden Kaufvertrag mit Shell Global Solutions Deutschland GmbH für seine kraftstoffmischung mit niedrigem Kohlenstoffgehalt bekannt gegeben, die im Motorsport eingesetzt werden soll. Diese erneuerbare Mischung, die aus nachhaltigen Rohstoffen wie landwirtschaftlichen Abfällen gewonnen wird, wurde entwickelt, um die strengen Anforderungen des Rennsports zu erfüllen, während sie eine verbesserte Speicherung von Nettoenergie und geringere Kohlenstoffemissionen bietet.
Der Vertrag steht im Einklang mit Gevos Engagement für die Kohlenstoffreduzierung und zeigt, dass Nachhaltigkeit und Höchstleistung im Motorsport koexistieren können. Damien Perriman, Chief Business Development Officer von Gevo, betonte die Bedeutung dieses Schrittes in Richtung einer nachhaltigen Zukunft und hob die Rolle des Unternehmens bei der Bereitstellung von netto-null Brennstoffen und Chemikalien in verschiedenen Branchen hervor.
- Secured purchase agreement with Shell for low-carbon intensity fuel blendstock in motorsports
- Product meets high-performance demands while reducing carbon emissions
- Aligns with EU Renewable Energy Directive Annex IX requirements
- Expands Gevo's presence in the sustainable fuels market
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Insights
Gevo's agreement with Shell marks a significant milestone in the renewable fuels sector. While specific financial terms aren't disclosed, this deal could potentially boost Gevo's revenue and market position. The motorsports industry, though niche, offers high visibility and could serve as a springboard for broader adoption of Gevo's products in the transportation sector. However, investors should note that the impact on Gevo's bottom line may be in the short term, given the specialized nature of racing fuels. The partnership with a major player like Shell adds credibility to Gevo's technology, potentially attracting more high-profile clients and enhancing shareholder value in the long run. Keep an eye on Gevo's future financial reports to gauge the tangible benefits of this agreement.
This partnership represents a significant step towards decarbonizing the motorsports industry, which has traditionally been associated with high emissions. Gevo's renewable blendstock, derived from agricultural waste, aligns with the EU Renewable Energy Directive, showcasing its commitment to sustainable practices. The use of this low-carbon intensity fuel in high-performance settings could accelerate the adoption of sustainable fuels in other transportation sectors. However, it's important to consider the overall lifecycle emissions of producing and transporting these fuels. While this move is promising, the real environmental impact will depend on the scale of implementation and the efficiency of production processes. Investors should monitor Gevo's ability to scale up production sustainably to meet potential increased demand.
This collaboration between Gevo and Shell could be a game-changer for the motorsports industry. High-performance racing has long been a testbed for automotive innovations and this shift towards sustainable fuels could accelerate the development of low-carbon technologies for everyday vehicles. The emphasis on maintaining peak performance while reducing carbon emissions addresses a critical challenge in the automotive sector. If successful, this could pave the way for wider adoption of renewable fuels in consumer vehicles, potentially reshaping the fuel market. However, challenges remain in scaling production and ensuring cost-competitiveness with traditional fuels. Investors should watch for signs of this technology trickling down to consumer markets, which could significantly expand Gevo's potential market size.
ENGLEWOOD, Colo., Aug. 21, 2024 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) announced a purchase agreement for its low-carbon intensity fuel blendstock with Shell Global Solutions Deutschland GmbH (“Shell”) for use in motorsports. Gevo’s renewable blendstock is suitable for premium motorsport fuels, demonstrating that sustainability and peak performance belong together.
Beginning with performance, Gevo’s low-carbon intensity fuel blendstock is expected to meet the robust demands of grueling racing schedules while providing enhanced net-energy storage and lower carbon emissions.
Gevo is committed to carbon abatement. By producing high-performance racing fuel blendstock from sustainable feedstocks like agricultural waste, which comply with the EU Renewable Energy Directive Annex IX requirements, Gevo is developing a crucial component for low-carbon fuel solutions.
“This is an important step towards a sustainable future,” says Damien Perriman, Gevo’s Chief Business Development Officer. “The racing industry exhilarates and inspires, and its enormous audience has an appreciation of what technology can do to enhance the human experience. Leading companies across the globe are looking to Gevo to deliver net-zero fuels and chemicals. With products like renewable fuels for all modes of transportation, specialty additives for lubricants, and sustainable chemicals that replace outdated technologies, Gevo is thrilled to drive this transformation.”
Matthias Mundt, General Manager Fuels Technology Future Mobility Portfolio at Shell, says: “As a supplier of specialty fuels to racing series around the world, Shell is focused on improving sustainability while maximizing efficiency and performance, such as with the
About Gevo
Gevo's mission is to convert renewable energy and biogenic carbon into sustainable fuels and chemicals with a net zero or better carbon footprint. Gevo’s innovative technology can be used to make a variety of products, including sustainable aviation fuel (“SAF”), motor fuels, chemicals, and other materials. Gevo’s business model includes developing, financing, and operating production facilities for these renewable fuels and other products. It currently runs one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States. It also owns the world’s first production facility for specialty alcohol-to-jet (“ATJ”) fuels and chemicals. Gevo emphasizes the importance of sustainability by tracking and verifying the carbon footprint of their business systems through its Verity subsidiary.
For more information, see www.gevo.com.
Forward Looking Statement
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, including, without limitation, Shell and its subsidiaries, Gevo’s products and their performance, and other statements that are not purely statements of historical fact. These forward-looking statements are made based on 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, 2023 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.
Media Contact
Lindsay Fitzgerald
SVP, Public Affairs
PR@gevo.com
FAQ
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