Judge Issues Temporary Order: Gevo to Continue Startup of Its Luverne Plant as Planned
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Gevo, Inc. (GEVO) (NASDAQ: GEVO), a leading renewable chemicals and next-generation biofuels company, issued today a public statement in reaction to a temporary order issued by the U.S. District Court of Delaware requesting that the company maintain status quo until the Court renders its decision on the pending request for a preliminary injunction.
In light of our recent startup and Gevos ability to bring commercial scale isobutanol to market, we respect the judges decision to issue an order instructing Gevo to maintain the status quo. As the judge has not made a decision for or against the preliminary injunction to date, its understandable that she wants to make sure Gevo sticks to its current business plan. For Gevo, that means we continue to optimize Luverne operating parameters, continue engineering work and preparation for construction of Redfield and most importantly we sell our renewable isobutanol to Sasol and the U.S. Air Force. -- Brett Lund, EVP & General Counsel for Gevo.
Gevo is converting existing ethanol plants into biorefineries to make renewable building block products for the chemical and fuel industries. The Company plans to convert renewable raw materials into isobutanol and renewable hydrocarbons that can be directly integrated on a drop in basis into existing chemical and fuel products to deliver environmental and economic benefits. Gevo is committed to a sustainable biobased economy that meets societys needs for plentiful food and clean air and water. For more information, visit www.gevo.com
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 include statements that are not purely statements of historical fact, and can sometimes be identified by our use of terms such as intend, expect, plan, estimate, future, strive and similar words. 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 the company undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although the company 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, 2011, as amended, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Gevo.
Greta Thomsen, 303-715-8928
Director of Marcom and PR
Stern IR for Gevo
Sarah McCabe, 267-909-9237
Source: Gevo, Inc.Copyright Business Wire 2012