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Gevo echoes endorsement of a clean fuel standard from Washington Governor and Alaska Airlines

The Colorado company is a leading producer of sustainable aviation fuel

Jay Inslee speaking at a lectern
“The clean fuel standard is the cheapest and best opportunity we have, bar none, to reduce carbon pollution from transportation at this scale," Inslee said

Gevo Inc (NASDAQ:GEVO), a producer of sustainable aviation fuel based in Englewood, Colorado, applauded Alaska Airlines and Washington Gov. Jay Inslee for urging the state to adopt a clean fuel standard. 

“The Pacific Northwest, and the Seattle area in particular, is a leader to make our world more sustainable. The value to decarbonize and reduce greenhouse gas emissions is real,” CEO Patrick Gruber said in a statement Tuesday. “The legislation that Governor Inslee proposes, which is supported by Alaska Airlines, would be expected to make the Pacific Northwest more attractive for, and a production location of, the new generation of fuels.”

Inslee spoke at an event alongside Alaska Airlines and others at the Port of Seattle earlier in January, where he urged the state legislature to act during its 2020 session. In 2019, the Washington House of Representatives voted in favor of legislation to establish a clean fuel standard but the Senate failed to do so, according to the Seattle Times.

READ: Gevo contracts with three dairies to provide manure for conversion into biogas

“Transportation is far and away our state’s largest source of carbon pollution — making up nearly half the total,” Inslee said at the event. “The clean fuel standard is the cheapest and best opportunity we have, bar none, to reduce carbon pollution from transportation at this scale.”

Gruber is optimistic about the region’s ability to meet such a standard.

“We see that there are potential attractive production sites in the region given the abundance of renewable resources available,” Gruber said. “In 2016 Gevo was the first to make and supply wood-based jet fuel that was used by Alaska Airlines. In 2019, we were awarded the opportunity to supply the city of Seattle with advanced low carbon fuels for their fleet automobiles. We see tremendous potential in the state of Washington. Every drop of sustainable low-carbon fuel we get into the market is a win and helps to change the conversation about what is possible for the future.”

Gevo is commercializing the next generation of gasoline, jet fuel and diesel fuel with the potential to achieve zero carbon emissions, addressing the market need to reduce greenhouse gas emissions with sustainable alternatives.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com 

Follow him on Twitter @andrew_kessel

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Price: 0.9798 USD

Market: NASDAQ
Market Cap: $74.21 m

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