ADM, Gevo Sign MoU to Produce up to 500M Gallons of Sustainable Aviation Fuel

CHICAGO and ENGLEWOOD, Colo., Oct. 25, 2021 (GLOBE NEWSWIRE) — ADM (NYSE: ADM), a global leader in nutrition and agricultural origination and processing, and Gevo, Inc., (NASDAQ: GEVO), a pioneer in transforming renewable energy into low carbon, energy-dense liquid hydrocarbons, announced today that they have signed a memorandum of understanding (MoU) to support the production of sustainable aviation fuel (SAF) and other low carbon-footprint hydrocarbon fuels. The MoU contemplates the production of both ethanol and isobutanol that would then be transformed into renewable low carbon-footprint hydrocarbons, including SAF, using Gevo’s processing technology and capabilities. About 900 million gallons of ethanol produced at ADM’s dry mills in Columbus, Nebraska, and Cedar Rapids, Iowa, as well as its Decatur, Illinois, complex, is expected to be processed utilizing this technology, resulting in approximately 500 million gallons of SAF and other renewable hydrocarbons. The isobutanol is expected to be produced at a proposed new facility in Decatur that would employ ADM’s carbon capture and sequestration capabilities. “The potential conversion of 900 million gallons of ethanol – more than half of our production capacity – to serve growing demand for sustainable aviation fuel would represent a major step in the continued evolution of our Carbohydrate Solutions business to focus increasingly on new, high-growth opportunities,” said ADM Chairman and CEO Juan Luciano. “Carbohydrate Solutions is unlocking new value and meeting customer needs through the growth of our BioSolutions platform, with agreements like our LG Chem MoU; sustainable solutions supported by our carbon capture capabilities, like our net-zero carbon milling footprint in the U.S.; and the completion of our dry mill review, with the sale of our Peoria facility and this exciting collaboration with Gevo. Equally important, we’re continuing to live our purpose, with our entry into SAF representing another step in our strategic efforts to advance decarbonization and use our integrated value chain to deliver more sustainable, environmentally friendly products and services.” “Our potential customer contract pipeline has grown to over 1 billion gallons,” said Gevo CEO Patrick Gruber, Ph.D. “By working with ADM, who already has committed to reducing their carbon footprint, we have the opportunity to accelerate scale. The technology to convert low carbon ethanol and isobutanol into SAF by Gevo is well developed and ready for world scale-commercialization. We look forward to working with ADM in the pursuit of Net-Zero fuels.” Demand for SAF is expected to increase as major U.S. airlines, airports, shippers and the U.S. government have agreed to work together to advance the use of cleaner sustainable fuels. The U.S. and the EU have set goals that together would support almost 4 billion gallons of annual SAF production in 2030, and more than 45 billion by 2050. The companies intend to work together to determine full commercialization plans and enter into definitive agreements enabling a timeline such that production of SAF can begin in the 2025-2026 timeframe. Media Contacts ADM Jackie Anderson media@adm.com 312-634-8484 Gevo, Inc. Heather L. Manuel IR@gevo.com 720-418-0085 About ADM At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. Learn more at www.adm.com. 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 life cycle 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 life cycle). Gevo also plans to take advantage of decarbonization via geological sequestration in the future. 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 the 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 Regarding ADM Some of the above statements constitute forward-looking statements. ADM’s filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, ADM assumes no obligation to update any forward-looking statements. Forward-Looking Statements Regarding Gevo, Inc. Certain statements in this press release may constitute “forward-looking statements” regarding Gevo, Inc. (“Gevo”) 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, statements related to the MOU, the demand for SAF and other hydrocarbon fuels contemplated by the MOU, whether Gevo and ADM will enter into legally binding, definitive agreements to effect the transactions contemplated by the MOU, Gevo’s potential customer contract pipeline, Net-Zero fuels, the gallons of SAF contemplated to be produced under the MOU, 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. Source: corporate release

 

Investor & Media Contact: Gevo Inc. 345 Inverness Drive South, Building C Suite 310, Englewood, CO 80112 Phone: +1 720-647-9605 Email: IR@gevo.com

enCore Energy and Azarga Uranium Provide Update on Proposed Transaction and Shareholder Vote

Corpus Christi, Texas – October 21, 2021: enCore Energy Corp. (“enCore”) (TSXV: EU, OTCQB: ENCUF) and Azarga Uranium Corp. (“Azarga”) (TSX: AZZ, OTCQB: AZZUF, FRA: P8AA) are pleased to provide a corporate update including information concerning the definitive agreement (the “Agreement”) whereby enCore will acquire all of the issued and outstanding common shares of Azarga pursuant to a court-approved plan of arrangement (the “Transaction”).  An Azarga information circular will be mailed on or before October 26, 2021 to Azarga shareholders of record as of October 12, 2021. The shareholder vote will be held on November 16, 2021 at 10:00 AM (Vancouver time) at the offices of Azarga at Unit 1 – 15782 Marine Drive, White Rock, BC, V4B 1E6.

Terms of the Agreement

Under the terms of the Agreement, Azarga shareholders will receive 0.375 common shares of enCore for each Azarga common share held (the “Exchange Ratio”) subject to adjustment as described in the information circular. The Exchange Ratio implied consideration of $0.71 per Azarga common share based on the closing price of the enCore common shares on the TSX Venture Exchange on September 3, 2021.  Additional details may be found in the Azarga information circular.

Transaction Highlights

•             Creation of a top-tier American uranium in-situ recovery (“ISR”) mining company with multiple assets at various stages of development;

•             Two licensed ISR production facilities and multiple potential satellite exploration and development projects in South Texas;

•             Advanced stage Dewey Burdock development project in South Dakota with key federal permits issued;

•             Recently published preliminary economic assessment for the Gas Hills project in Wyoming;

•             Large uranium resource endowment in New Mexico including the Marquez-Juan Tafoya project, for which a recent preliminary economic assessment was published and the Crownpoint and Hosta Butte project;

•             Well positioned to benefit from America’s nuclear renaissance, which boasts bi-partisan political support; and

•             Management team and board with unrivaled experience in the permitting, development, and mining of ISR uranium deposits in the USA.

Transaction Details

The proposed Transaction will be effected by way of a plan of arrangement completed under the Business Corporations Act (British Columbia). The Transaction will require approval by at least 66 2/3% of the votes cast by Azarga shareholders and, if required by Multilateral Instrument 61-101, a simple majority of the votes cast by Azarga shareholders excluding certain interested or related parties, in each case by shareholders present in person or represented by proxy at a special meeting of the shareholders of Azarga to be called in connection with the Transaction.

Closing of the Transaction is subject to the receipt of applicable regulatory approvals and the satisfaction of certain other closing conditions customary in transactions of this nature, including, without limitation, court and stock exchange approval. 

None of the securities to be issued pursuant to the Transaction have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issuable in the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

enCore also wished to recognize and thank Andrew Weekly of the SmithWeekly Group and Edward Sendrea of Gravedigger Capital Ltd. for providing the company with industry evaluation and consultation with regards to the company’s merger & acquisitions goals.

About enCore Energy Corp.

enCore Energy Corp. is a U.S. domestic uranium developer focused on becoming a leading in-situ recovery (“ISR”) uranium producer. The company is led by a team of industry experts with extensive knowledge and experience in the development and operations of in situ recovery uranium operations. enCore Energy’s opportunities are created from the company’s transformational acquisition of its two South Texas production facilities, the changing global uranium supply/demand outlook and opportunities for industry consolidation. These short-term opportunities are augmented by our strong long term commitment to working with local indigenous communities in New Mexico where the company holds significant uranium resources.

About Azarga Uranium Corp.

Azarga Uranium is an integrated uranium exploration and development company that controls ten uranium projects and prospects in the United States of America (“USA”) (South Dakota, Wyoming, Utah and Colorado), with a primary focus of developing in-situ recovery uranium projects. The Dewey Burdock in-situ recovery uranium project in South Dakota, USA (the “Dewey Burdock Project”), which is the company’s initial development priority, has received its Nuclear Regulatory Commission License and Class III and Class V Underground Injection Control permits from the Environmental Protection Agency and the company is in the process of completing other major regulatory permit approvals necessary for the construction of the Dewey Burdock Project.

Contact Information

enCore Energy Corp.

William M. Sheriff

Executive Chairman

972-333-2214

info@encoreenergycorp.com

www.encoreenergycorp.com

 

Azarga Uranium Corp.

Blake Steele

President & CEO

605-662-8308

info@azargauranium.com

www.azargauranium.com

 

 

Cautionary Statements

Certain information contained herein constitutes forward-looking information or statements under applicable securities legislation and rules. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend”, “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results.  Forward-looking statements in this press release include, but are not limited to, statements related to the anticipated completion of the Transaction, the terms of the Transaction, the benefits of the Transaction, the combined company, the directors and officers of the combined company, the merits of the properties of enCore and Azarga, the potential share consolidation and listing of the shares of the combined company on a U.S. stock exchange and all statements related to the business plans, expectations and objectives of enCore and Azarga.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of enCore and/or Azarga to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: any inability of the parties to satisfy the conditions to the completion of the Transaction on acceptable terms or at all; receipt of necessary stock exchange, court and shareholder approvals; the ability of enCore and Azarga to achieve their stated goals and objectives; the costs associated with the companies’ objectives; risks and uncertainties related to the COVID-19 pandemic and measures taken to attempt to reduce the spread of COVID-19; and the risks and uncertainties identified in enCore’s Management’s Discussion and Analysis for the six months ended June 30, 2021 and Azarga’s Annual Information Form for the year ended December 31, 2020, each filed on SEDAR at www.sedar.com. Although management of each of enCore and Azarga has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements. Neither party will update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. The parties caution readers not to place undue reliance on these forward-looking statements and it does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

This press release is not and is not to be construed in any way as, an offer to buy or sell securities in the United States. The distribution of the enCore common shares in connection with the transactions described herein will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) and the enCore common shares may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the enCore common shares, nor shall there be any offer or sale of the enCore common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the TSX, the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX and TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.                                                                                                                                                                     

 

Capstone Green Energy (NASDAQ:CGRN) Continues Market Penetration In Latin America With First District Cooling Application For Llanogas

 

The Microturbine Enclosure Will Be Sized to Accommodate Future Expansion

VAN NUYS, CA / ACCESSWIRE / October 20, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) (“Capstone” or the “Company”), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that Supernova Energy Services (www.supernova-es.com), Capstone’s exclusive distributor for Colombia and Venezuela, secured an order for a three-bay C400 Signature Series microturbine to be installed in a cogeneration application and supply electricity and cooling for Llanogas, a leading natural gas utility company in Colombia.

The success and demonstrated benefits of a pilot project at Llanogas’ headquarters in Villacencio, Meta, Colombia led officials to install a three-bay natural-gas fueled C400S microturbine package at a nearby office complex located near El Barzal. The system is the first district cooling application in the country. In this application, cold water is produced in a centralized location for distribution to buildings like offices and factories through a network of insulated underground pipes. District cooling offers a modern, efficient way to air condition a network of buildings in cities or complexes and contribute to improving a reliable energy infrastructure.

“Carbon reduction practices are evolving in exciting new ways, and energy efficiency strategies are evolving with them,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “Capstone solutions deliver essential power reliability and energy efficiency that energy dense customers require, which, in turn, improves their return on investment. At the same time, our systems lower their carbon footprint,” added Mr. Jamison.

Committed to the care and preservation of the environment, Llanogas officials actively sought a cogeneration solution that would offset their carbon footprint and maximize overall energy efficiency. Capstone’s innovative technology was selected for its scalability, resiliency, and ability to reduce energy costs while simultaneously reducing emissions of pollutants and greenhouse gases.

“This will be an iconic project in the city of Villavicencio, it being the first dedicated office complex with the capacity to provide cooling for several adjacent buildings and trend setting technologically with the cooling water energy storage,” said Nestor Moseres, President of Supernova Energy Services.

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

 

Capstone Green Energy (NASDAQ:CGRN) Continues Market Penetration In Latin America With First District Cooling Application For Llanogas

 

The Microturbine Enclosure Will Be Sized to Accommodate Future Expansion

VAN NUYS, CA / ACCESSWIRE / October 20, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) (“Capstone” or the “Company”), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that Supernova Energy Services (www.supernova-es.com), Capstone’s exclusive distributor for Colombia and Venezuela, secured an order for a three-bay C400 Signature Series microturbine to be installed in a cogeneration application and supply electricity and cooling for Llanogas, a leading natural gas utility company in Colombia.

The success and demonstrated benefits of a pilot project at Llanogas’ headquarters in Villacencio, Meta, Colombia led officials to install a three-bay natural-gas fueled C400S microturbine package at a nearby office complex located near El Barzal. The system is the first district cooling application in the country. In this application, cold water is produced in a centralized location for distribution to buildings like offices and factories through a network of insulated underground pipes. District cooling offers a modern, efficient way to air condition a network of buildings in cities or complexes and contribute to improving a reliable energy infrastructure.

“Carbon reduction practices are evolving in exciting new ways, and energy efficiency strategies are evolving with them,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “Capstone solutions deliver essential power reliability and energy efficiency that energy dense customers require, which, in turn, improves their return on investment. At the same time, our systems lower their carbon footprint,” added Mr. Jamison.

Committed to the care and preservation of the environment, Llanogas officials actively sought a cogeneration solution that would offset their carbon footprint and maximize overall energy efficiency. Capstone’s innovative technology was selected for its scalability, resiliency, and ability to reduce energy costs while simultaneously reducing emissions of pollutants and greenhouse gases.

“This will be an iconic project in the city of Villavicencio, it being the first dedicated office complex with the capacity to provide cooling for several adjacent buildings and trend setting technologically with the cooling water energy storage,” said Nestor Moseres, President of Supernova Energy Services.

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Dr. Patrick Gruber to Participate in a Water Tower Research Fireside Chat on Thursday, October 21, 2021 at 4:30 pm EDT

 

ENGLEWOOD, Colo., Oct. 18, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), announced today that Dr. Patrick Gruber, Chief Executive Officer, will participate in a Water Tower Research Fireside Chat on Thursday, October 21, 2021 at 4:30 pm EDT.
 

Topic: Discussing Recent Key Events and the Commercial Development of Ethanol to Jet (ETJ) Technology

Investors and other persons interested in participating in the event must register using the link below. Please note that registration for the live event is limited but may be accessed at any time for replay after the presentation ends on October 21, 2021, utilizing the same registration link.

Registration Link: https://globalmeet.webcasts.com/starthere.jsp?ei=1506721&tp_key=f0a767cf05

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

Investor and Media Contact

IR@gevo.com

+1 720-647-9605

Dr. Patrick Gruber to Participate in a Water Tower Research Fireside Chat on Thursday, October 21, 2021 at 4:30 pm EDT

 

ENGLEWOOD, Colo., Oct. 18, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), announced today that Dr. Patrick Gruber, Chief Executive Officer, will participate in a Water Tower Research Fireside Chat on Thursday, October 21, 2021 at 4:30 pm EDT.
 

Topic: Discussing Recent Key Events and the Commercial Development of Ethanol to Jet (ETJ) Technology

Investors and other persons interested in participating in the event must register using the link below. Please note that registration for the live event is limited but may be accessed at any time for replay after the presentation ends on October 21, 2021, utilizing the same registration link.

Registration Link: https://globalmeet.webcasts.com/starthere.jsp?ei=1506721&tp_key=f0a767cf05

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

Investor and Media Contact

IR@gevo.com

+1 720-647-9605

Gevo to Report Third Quarter 2021 Financial Results on November 10, 2021

 

ENGLEWOOD, Colo., Oct. 14, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) announced today that it will host a conference call on Wednesday, November 10, 2021 at 4:30 p.m. EDT (2:30 p.m. MDT) to report its financial results for the third quarter ended September 30, 2021 and provide an update on recent corporate highlights.

To participate in the conference call, please dial 1 (833) 729-4776 (inside the U.S.) or 1 (830) 213-7701 (outside the U.S.) and reference the access code 4248806# or through the event weblink: https://edge.media-server.com/mmc/p/j9mothsa

A replay of the call and webcast will be available two hours after the conference call ends on November 10, 2021. To access the replay, please dial 1 (855) 859-2056 (inside the U.S.) or 1 (404) 537-3406 (outside the U.S.) and reference the access code 4248806#. The archived webcast will be available in the Investor Relations section of Gevo’s website at www.gevo.com .

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 life cycle 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 life cycle). 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 the 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

Investor and Media Contact
+1 720-647-9605
IR@gevo.com

Exploration and Production: 2021-3Q Review and Outlook

Noble Capital Markets Energy Sector Review – October 2021

Source: Capital IQ as of 09/30/2021

Source: Energy Information Administration as of 09/30/2021

ENERGY INDUSTRY OUTLOOK

Exploration and Production: 2021-3Q Review and Outlook

Energy Stocks Performance

Energy stocks, as measured by the XLE Energy Index, declined sharply in the first half of the quarter falling as much as 16%. The second half of the quarter was a different story with the index regaining lost ground and finishing within 0.04 points, or 0.01% of where it began. This is in direct contrast to the S&P 500 Index which rose steadily in July and August before giving back much of its outperformance in September and ending the quarter up a modest 0.85%

Oil Prices

As one might expect, the XLE Index largely mirrored oil prices. WTI oil prices began the quarter at $75.23/bbl., fell to as low as $62.32/bbl., and then shot up sharply to $75.88/bbl. Prices have surpassed peak levels reached in 2018. One would have to go back to 2014 to find higher oil prices. What’s more, oil prices show no signs of letting up. Drilling rig count has started to increase, but not at a level one would expect for this oil price level. Brent oil prices have also been strong and are close to crossing $80/bbl. The spread between Brent and WTI prices has widened but remain below the traditional spread of around $5/bbl. The WTI oil futures curve shows oil prices declining on the out months but staying above $74/bbl. through December.

High oil prices, combined with improved operating efficiencies mean that production companies are facing very favorable returns on their investment. We look for companies to start reporting strong positive cash flow and to use cash flow to increase drilling and improve balance sheets. We do not expect companies to raise dividend payments given the cyclical nature of recent oil price trends but would not rule out share repurchases if stock prices do not rebound further.

Natural Gas Prices

The rise in oil prices is impressive, but it pales in comparison to the jump in natural gas prices. Henry Hub gas prices rose 53% during the quarter and are now trading at a level of $5.619/mcf. One would have to go back to 2008 to find natural gas prices this high. Interestingly, the rise has come during the normally quiet summer months. The race to refill storage units that began in March has been negatively impacted by tepid drilling activity combined with high gas demand due to hot weather this summer. Natural gas future prices rise through the high-demand months of winter. The January contract, for example, trades at $5.85/mcf.

Source: Michael Heim 10/04/2021; Energy Information Agency (EIA)

Source: Capital IQ as of 09/30/2021

Longer-term energy trends

Energy sources in the United States are undergoing a significant transformation away from carbon-based fuels. While this should not be a surprise to anyone, it is worth taking a long-term view of energy consumption to highlight how the transformation has accelerated in recent years. Coal consumption has been replaced by renewable, nuclear, and natural gas. Worth noting, petroleum consumption, which grew dramatically in the last 50 years, has maintained the levels reached at the end of the century. We believe this trend will continue with petroleum providing a smaller portion of the overall energy picture, but not necessarily declining in absolute value.

Outlook 

The rebound in oil and natural gas prices came faster than expected and is staying higher than we would have expected. We have been adjusting our models to reflect higher prices but are maintaining our long-term oil price forecast of $50 per barrel and $2.50 per mcf. Energy companies should start reporting positive cash flow at these prices and increasing drilling budgets.

Our near-term outlook for energy stocks remains positive. Wells being drilled today at current prices are generating cash flow to repay drilling costs in a matter of months, not years. We expect companies to report favorable results for the next few quarters. Longer-term, we have concern that oil demand will be constrained by power generation competition from renewable energy and decreased demand for gasoline and diesel due to a growth in electric vehicles. At the same time, increased supply from OPEC and continued drilling productivity will eventually mean lower energy prices. However, the near-term returns are so favorable, we believe investors will be amply rewarded before such a time arrives. We recommend investor shift their attention to companies with active drilling programs and a plethora of drilling options.

Source: Michael Heim 10/04/2021; Energy Information Agency (EIA)

Oil & Gas – Comparable Tables 

Source: Capital IQ as of 09/30/2021

Oil & Gas – LTM Equity Performance 

Source: Capital IQ as of 09/30/2021

Oil & Gas – 2021-3Q Global M&A Activity 

Source: Capital IQ as of 09/30/2021

Power Generation – Comparable Tables 

Source: Capital IQ as of 09/30/2021

Power Generation – LTM Equity Performance 

Source: Capital IQ as of 09/30/2021

Power Generation – 2021-3Q Global M&A Activity 

Source: Capital IQ as of 09/30/2021

Energy Services – Comparable Tables 

Source: Capital IQ as of 09/30/2021

Energy Services – LTM Equity Performance 

Source: Capital IQ as of 09/30/2021

Energy Services – YTD Global M&A Activity 

Source: Capital IQ as of 09/30/2021

Mineral Energy – Comparable Tables 

Source: Capital IQ as of 09/30/2021

Mineral Energy – LTM Equity Performance 

Source: Capital IQ as of 09/30/2021

Mineral Energy – YTD Global M&A Activity 

Source: Capital IQ as of 09/30/2021

LTM Energy – YTD Energy Industry M&A Summary 

Source: Capital IQ as of 09/30/2021

NOBLE QUARTERLY HIGHLIGHTS

Jericho Energy Ventures (TSXV:JEV)

Industry: Energy – Green energy

Jericho Energy Ventures (JEV) is focused on advancing the low-carbon energy transition with investments in hydrogen technologies, energy storage, carbon capture and new energy systems. JEV’s wholly owned subsidiary, Hydrogen Technologies, delivers patented, zero-emission boiler technology to the $30 Billion Commercial & Industrial heat and steam industry in addition to its investment in H2U’s electrocatalyst and low-cost electrolyser platform. JEV also owns and operates producing oil and gas assets in the US Mid-Continent, predominantly in Oklahoma.

3rd Quarter News Highlights:

July 22, 2021: Jericho Energy Ventures Co-Leads Investment into Hydrogen Catalyst Discovery Platform. Jericho’s USD$1.5 million Co-Lead investment is joined by Dolby Family Ventures, Hess Corporation (NYSE: HES) and Motus Ventures – with a total Series A raise of approximately USD$7 million. H2U intends to use this funding to support the start-up and development of its proprietary electrocatalyst discovery process and machinery.

Yangarra Resources Ltd. (TSX:YGR)

Industry: Energy – Oil and gas; Exploration and production

Yangarra Resources Ltd. is a junior oil and gas company engaged in the exploration, development and production of natural gas and oil with operations in Western Canada, with a focus on Central Alberta, where the Company has extensive infrastructure and land holdings.

3rd Quarter News Highlights:

September 28, 2021: Yangarra Resources Ltd. reached a new 52-Week high of $1.88 CAD. A record that tells how investors in the Oil and Gas space are valuing companies as a response of recent oil price surges and other diverse industry constraints. The analysts’ consensus rated the stock as a “Hold” and the average price target is $1.59 CAD as of the date posted.

Bonterra Energy Corp. (TSX:BNE)

Industry: Energy – Oil and gas; Exploration and production

Bonterra Energy Corp. is a conventional oil and gas corporation with operations in Alberta, Saskatchewan and British Columbia, focused on its strategy of long-term, sustainable growth and value creation for shareholders.

3rd Quarter News Highlights:

August 16, 2021: Bonterra Energy announced the appointment of Stacey McDonald to the Board of Directors. Ms. McDonald brings more than 16 years of experience across the energy and finance sectors and counts with broad track record in financial analysis and the oil and gas industry. Ms. McDonald will serve as a member of the Corporation’s Audit, Compensation, and Governance & Nominating Committees.

Source: Company Press Releases

DOWNLOAD THE FULL REPORT (PDF)

Noble Capital Markets Energy Newsletter Q3 2021

This newsletter was prepared and provided by Noble Capital Markets, Inc. For any questions and/or requests regarding this newsletter, please contact >Francisco Penafiel

DISCLAIMER

All statements or opinions contained herein that include the words “ we”,“ or “ are solely the responsibility of NOBLE Capital Markets, Inc and do not necessarily reflect statements or opinions expressed by any person or party affiliated with companies mentioned in this report Any opinions expressed herein are subject to change without notice All information provided herein is based on public and non public information believed to be accurate and reliable, but is not necessarily complete and cannot be guaranteed No judgment is hereby expressed or should be implied as to the suitability of any security described herein for any specific investor or any specific investment portfolio The decision to undertake any investment regarding the security mentioned herein should be made by each reader of this publication based on their own appraisal of the implications and risks of such decision This publication is intended for information purposes only and shall not constitute an offer to buy/ sell or the solicitation of an offer to buy/sell any security mentioned in this report, nor shall there be any sale of the security herein in any state or domicile in which said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or domicile This publication and all information, comments, statements or opinions contained or expressed herein are applicable only as of the date of this publication and subject to change without prior notice Past performance is not indicative of future results.

Please refer to the above PDF for a complete list of disclaimers pertaining to this newsletter

Gevo to Report Third Quarter 2021 Financial Results on November 10, 2021

 

ENGLEWOOD, Colo., Oct. 14, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) announced today that it will host a conference call on Wednesday, November 10, 2021 at 4:30 p.m. EDT (2:30 p.m. MDT) to report its financial results for the third quarter ended September 30, 2021 and provide an update on recent corporate highlights.

To participate in the conference call, please dial 1 (833) 729-4776 (inside the U.S.) or 1 (830) 213-7701 (outside the U.S.) and reference the access code 4248806# or through the event weblink: https://edge.media-server.com/mmc/p/j9mothsa

A replay of the call and webcast will be available two hours after the conference call ends on November 10, 2021. To access the replay, please dial 1 (855) 859-2056 (inside the U.S.) or 1 (404) 537-3406 (outside the U.S.) and reference the access code 4248806#. The archived webcast will be available in the Investor Relations section of Gevo’s website at www.gevo.com .

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 life cycle 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 life cycle). 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 the 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

Investor and Media Contact
+1 720-647-9605
IR@gevo.com

Gevo and Axens Ink Alliance for Ethanol-to-Jet Technology and Sustainable Aviation Fuel Commercial Project Development

 

ENGLEWOOD, Colo., Oct. 12, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) and Axens North America, Inc. (Axens) have entered into an agreement that establishes a strategic alliance aimed at accelerating the commercialization of sustainable ethanol-to-jet (ETJ) projects in the United States. As part of the alliance, Axens brings technologies with over 60 related patents; engineering packages; proprietary catalysts; and certain proprietary equipment required to convert ethanol into jet fuel. Axens would also provide process guarantees for commercial ETJ projects. Gevo expects to develop, own, and operate ETJ plants to produce sustainable aviation fuel (SAF), utilizing its expertise in renewable alcohol production and technologies; Net-Zero business model; project financing expertise; customer relationships, and contracts.

Axens has a long history of developing and commercializing best in class technology to convert olefins, such as ethylene, propylene, and butylene into hydrocarbon fuels and blend stocks such as gasoline, jet fuel, and diesel fuel:
 

• > 60 commercial olefin oligomerization technology deployments
• > 30 years of commercial operation
• Leader in the field of homogeneous catalysis research recognized by the 2005 Nobel award Prize in chemistry to IFPEN’s Yves Chauvin
• > 60 related patents across this technology chain
   

Instead of making olefins from petroleum, it is now possible to make them from ethanol and butanol, so the same commercially proven technologies can be deployed to make renewable hydrocarbon fuels.

“This agreement not only strengthens Axens’ existing relationship with Gevo that currently includes technology development and deployment in the isobutanol derived fuels, but reiterates Axens’ commitment to Gevo’s growth potential, while recognizing Axens’ innovative, commercially-proven, and differentiated technology bundle approach. Gevo’s approach makes it possible to decarbonize the ethanol supply chain and thus utilize technologies originally developed and well-proven for fossil-hydrocarbon production to produce renewable, drop-in fuels. Finally, we are convinced that Gevo’s breakthrough approach to scientifically tracking and accounting for carbon, emissions, and sustainability across the whole of the business system is a true differentiator that will enable growth of SAF production via carbohydrate derived alcohols,” said Jean Sentenac, Chief Executive Officer of Axens.

“Our customers want SAF and other low-carbon hydrocarbons sooner, rather than later. The collaboration between Gevo and Axens is expected to allow Gevo to rapidly partner with existing ethanol producers to deploy proven technologies at commercial scales consistent with the airline industry’s sustainability goals. We see that there is great potential to convert ethanol into SAF and other hydrocarbons. Additionally, there is synergy with Gevo proprietary isobutanol production technology that is expected to result in unique product blending synergies for producing low-carbon gasoline, SAF, and renewable diesel. We know from our work on the Net-Zero business model that it is possible to drive the fossil-based GHG and related emissions footprint very low or even negative while producing drop-in hydrocarbon fuels like SAF and we think the model can apply to ETJ too,” said Dr. Patrick R. Gruber, Chief Executive Officer of Gevo.

“Axens is a great partner. They have a lot of patents, expertise, and a track record of success with their technologies to convert olefins into hydrocarbons. In short, Axens de-risks the production technology. Gevo expects to build, own, and operate alcohol-to-jet plants alone or with partners. To any ethanol plant owners out there who want to change their game and get into Net-Zero type SAF and hydrocarbons, please give us a call,” continued Dr. Gruber.

About Gevo, Inc.

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 life cycle 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 life cycle). 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 the 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

About Axens

Axens ( www.axens.net ) is a group providing a complete range of solutions for the conversion of oil and biomass to cleaner fuels, the production and purification of major petrochemical intermediates, as well as natural gas treatment and conversion options. The products and services offered include technologies, equipment, furnaces, modular units, catalysts, adsorbents and related services. Axens is ideally positioned to cover the entire value chain from feasibility study to unit start-up and follow-up throughout the entire unit cycle life. This unique position ensures the highest level of performance with a reduced environmental footprint. Axens global product and services are based on highly trained human resources, modern production facilities and an extended global network for industrial, technical support & commercial services. Axens is an IFP Group company.

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 agreement and alliance between Gevo and Axens for Ethanol-to-Jet Technology and Sustainable Aviation Fuel Commercial Project Development, Gevo’s expertise in renewable alcohol production and technologies; Gevo’s Net-Zero business model; Gevo’s project financing expertise and customer relationships, Gevo’s contracts and ability to enter into new contracts; the attributes of Gevo’s products, 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

	Image Credit: Homeland Security Newswire

Chinese Thorium Power Plant May Challenge Nuclear Expectations

 

The nuclear energy industry has recently unveiled tremendous new potential and expects many more positive changes. From nuclear batteries, to natrium salt reactors, to modular units, the high output and low to no carbon appeal of nuclear has again put uranium fueled solutions at the forefront of many energy discussions. Investors are also finding different ways to benefit from the nuclear renaissance and increased fuel demand. Whether it be through investing in mining companies, derivative-based funds, or even physical delivery, there’s excitement and speculation around anticipated growth. But what if Warren Buffett, Bill Gates, Eric Sprott and others are right about a nuclear future but wrong about what will fuel it?

One of the many nuclear variations being built and trialed is ready to go online. This plant may completely alter the expected course many now have for nuclear power — and it may not include uranium.

New Fuel, New Options

One typically doesn’t build a nuclear-fired power plant in the desert. Water used as a coolant has always been an important component. However, in a province called Wuwei in the Gobi Desert, the Chinese are in the testing stage of an experimental reactor. This nuclear reactor will use thorium as fuel. Thorium also needs a companion metal to react with; this could either be spent plutonium or uranium. The technology on which the plant was designed has been known since the sixties. China could soon be in the position to benefit from this abundant alternative fuel.

What is Thorium?

Thorium is a radioactive metal that presents itself naturally in rocks. At the moment, it isn’t used for much. However, thorium is a by-product of mining rare earth minerals. Mining rare earth minerals is being done across the globe with increased capacity to satisfy the world’s appetite for clean energy storage. This makes thorium increasingly available.

Compared to the cost, efficiency, and availability of uranium, thorium has some advantages. According to the Nobel Prize winner in Physics (1984), Carlo Rubbia, the comparison of the energy produced by one tonne of thorium fission would be equivalent to about 200 tonnes of uranium. Since 7 grams of uranium is equivalent to about one tonne of coal, one tonne of thorium would replace about 28 million tonnes of coal. The ability to reduce carbon-emitting coal use is only the beginning of the benefits foreseen.

One tonne of thorium is a sphere just shy of 22 inches in diameter. A smaller sphere of thorium the size of a tennis ball could electrify London’s nine million homes and businesses for a week. The earth’s thorium reserves could be expected to supply the planet’s energy needs for tens of thousands of years.

As far as contamination and waste, thorium plants have the potential to generate a much smaller amount of shorter-life radioactive waste than reactors now in use. The waste volume is estimated to be 1/35 for the same energy output. Because of a shorter half-life, of the spent thorium, compared to spent uranium, 99.99% of the waste would be stable in 300 years, rather than tens of thousands for U235.

About the Reactors

The process of the reactor is different than traditional power stations, so new plants from the ground up are needed to use thorium; they are not interchangeable. Much like the natrium reactor demonstration project to be built in Wyoming, the cooling process can be salt-based and therefore avoid the need to be near a body of water.  According to Nature.com, the Chinese reactor will use fluoride-based salts. These will melt into a transparent liquid when heated to around 840 degrees (Fahrenheit). This salt serves as the coolant as well as the storer of heat energy for the reactor core. It allows the reactors can be installed in isolated and dry areas.

The Chinese pilot reactor is the first thorium molten salt reactor to operate since 1969. At that time, U.S. scientists shut down the first thorium reactor at the Oak Ridge National Lab in Tennessee after the program was canceled. The Chinese plant copied the Oak Ridge design but improved by drawing on decades of innovation in manufacturing, materials, and instrumentation.

Take-Away

The future is never certain. Innovation, competition, and new discoveries disrupt trends. The new thorium plant may pave the way for co-existing technologies to generate energy from uranium and other mineral reactions, just as fossil fuels (coal, oil, natural gas) co-exist and pull the weight for today’s energy needs.

If successful, the new plant ushers in an era where, for the first time in human history, electricity generation can be counted on for tens of thousands of years. This would be bullish for the human race and worth watching.

Suggested Reading:

Nuclear Powers New Paradigm Includes Microreactors

Can You Invest in Uranium Directly?

How Does the Gates/Buffett Natrium Reactor Work?

Recipe for Higher Uranium Prices

 

Sources:

https://www.nature.com/articles/d41586-021-02459-w

https://www.theguardian.com/us-news/2021/jun/03/bill-gates-warren-buffett-new-nuclear-reactor-wyoming-natrium

https://www.nature.com/articles/d41586-021-02459-w

https://world-nuclear.org/information-library/current-and-future-generation/thorium.aspx

https://www.france24.com/en/asia-pacific/20210912-why-china-is-developing-a-game-changing-thorium-fuelled-nuclear-reactor

https://vittana.org/16-big-thorium-reactor-pros-and-cons
https://www.homelandsecuritynewswire.com/chinas-nuclear-power-expansion-based-thorium

 

Stay up to date. Follow us:

Gevo and Axens Ink Alliance for Ethanol-to-Jet Technology and Sustainable Aviation Fuel Commercial Project Development

 

ENGLEWOOD, Colo., Oct. 12, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) and Axens North America, Inc. (Axens) have entered into an agreement that establishes a strategic alliance aimed at accelerating the commercialization of sustainable ethanol-to-jet (ETJ) projects in the United States. As part of the alliance, Axens brings technologies with over 60 related patents; engineering packages; proprietary catalysts; and certain proprietary equipment required to convert ethanol into jet fuel. Axens would also provide process guarantees for commercial ETJ projects. Gevo expects to develop, own, and operate ETJ plants to produce sustainable aviation fuel (SAF), utilizing its expertise in renewable alcohol production and technologies; Net-Zero business model; project financing expertise; customer relationships, and contracts.

Axens has a long history of developing and commercializing best in class technology to convert olefins, such as ethylene, propylene, and butylene into hydrocarbon fuels and blend stocks such as gasoline, jet fuel, and diesel fuel:
 

• > 60 commercial olefin oligomerization technology deployments
• > 30 years of commercial operation
• Leader in the field of homogeneous catalysis research recognized by the 2005 Nobel award Prize in chemistry to IFPEN’s Yves Chauvin
• > 60 related patents across this technology chain
   

Instead of making olefins from petroleum, it is now possible to make them from ethanol and butanol, so the same commercially proven technologies can be deployed to make renewable hydrocarbon fuels.

“This agreement not only strengthens Axens’ existing relationship with Gevo that currently includes technology development and deployment in the isobutanol derived fuels, but reiterates Axens’ commitment to Gevo’s growth potential, while recognizing Axens’ innovative, commercially-proven, and differentiated technology bundle approach. Gevo’s approach makes it possible to decarbonize the ethanol supply chain and thus utilize technologies originally developed and well-proven for fossil-hydrocarbon production to produce renewable, drop-in fuels. Finally, we are convinced that Gevo’s breakthrough approach to scientifically tracking and accounting for carbon, emissions, and sustainability across the whole of the business system is a true differentiator that will enable growth of SAF production via carbohydrate derived alcohols,” said Jean Sentenac, Chief Executive Officer of Axens.

“Our customers want SAF and other low-carbon hydrocarbons sooner, rather than later. The collaboration between Gevo and Axens is expected to allow Gevo to rapidly partner with existing ethanol producers to deploy proven technologies at commercial scales consistent with the airline industry’s sustainability goals. We see that there is great potential to convert ethanol into SAF and other hydrocarbons. Additionally, there is synergy with Gevo proprietary isobutanol production technology that is expected to result in unique product blending synergies for producing low-carbon gasoline, SAF, and renewable diesel. We know from our work on the Net-Zero business model that it is possible to drive the fossil-based GHG and related emissions footprint very low or even negative while producing drop-in hydrocarbon fuels like SAF and we think the model can apply to ETJ too,” said Dr. Patrick R. Gruber, Chief Executive Officer of Gevo.

“Axens is a great partner. They have a lot of patents, expertise, and a track record of success with their technologies to convert olefins into hydrocarbons. In short, Axens de-risks the production technology. Gevo expects to build, own, and operate alcohol-to-jet plants alone or with partners. To any ethanol plant owners out there who want to change their game and get into Net-Zero type SAF and hydrocarbons, please give us a call,” continued Dr. Gruber.

About Gevo, Inc.

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 life cycle 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 life cycle). 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 the 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

About Axens

Axens ( www.axens.net ) is a group providing a complete range of solutions for the conversion of oil and biomass to cleaner fuels, the production and purification of major petrochemical intermediates, as well as natural gas treatment and conversion options. The products and services offered include technologies, equipment, furnaces, modular units, catalysts, adsorbents and related services. Axens is ideally positioned to cover the entire value chain from feasibility study to unit start-up and follow-up throughout the entire unit cycle life. This unique position ensures the highest level of performance with a reduced environmental footprint. Axens global product and services are based on highly trained human resources, modern production facilities and an extended global network for industrial, technical support & commercial services. Axens is an IFP Group company.

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 agreement and alliance between Gevo and Axens for Ethanol-to-Jet Technology and Sustainable Aviation Fuel Commercial Project Development, Gevo’s expertise in renewable alcohol production and technologies; Gevo’s Net-Zero business model; Gevo’s project financing expertise and customer relationships, Gevo’s contracts and ability to enter into new contracts; the attributes of Gevo’s products, 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.

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