ERJ staff report (DS)
Englewood, Colorado - Gevo, Inc. said it is, â€œon the cusp of commercialising renewable isobutanol,â€
In announcing its results for the 12 months to 31 December 2011, CEO Dr Patrick Gruber said, â€œâ€œThe retrofit of our Luverne plant continues on track to start commercial scale production of renewable isobutanol in the first half of this year. We are incorporating our learnings from this retrofit into the ongoing detailed design of the Redfield Energy retrofit in South Dakota. The renewable isobutanol produced at these plants is primarily targeted for sale under our off-take agreement with Sasol Chemical Industries Ltd. serving the specialty chemicals market.â€
Revenues for fiscal year 2011 were $64.6 million compared to $16.4 million in fiscal year 2010 as a result of revenues from ethanol sales and related products from the Luverne, Minnesota facility. The net loss for fiscal year 2011 was $48.2 million compared to $40.1 million for fiscal year 2010.
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Press release from Gevo