Gevo Inc (NASDAQ:GEVO) rallied Wednesday after announcing that it will supply low-carbon, renewable isooctane to
Englewood, Colorado-based Gevo said in a statement that the isooctane will be used in high-end applications ranging from high-purity solvents to specialty fuels under HCS’s Haltermann Carless brand. Excluded will be the use of isooctane for on-road transportation fuels.
Shares of Gevo climbed US$0.60, or 24%, to $3.12 in Wednesday’s premarket trading.
HCS operates a network of nine facilities for refining, processing and blending in
Gevo said its renewable isooctane is a low-carbon, drop-in blending component for gasoline that has the potential to reduce greenhouse gases by as much as 70%, well within the standards established by the EU Renewable Energy Directive.
“This is a game-changing, bankable agreement for
HCS CEO Uwe Nickel added that “we have been impressed with the quality and the consistency of Gevo’s renewable isooctane.”
Contact Dennis Fitzgerald at [email protected]