Gevo signs new 10-year deal with Lanxess

ERJ staff report (DS)

Englewood, Colorado -- Gevo Inc., a bio-fuel company, said it signed a new, exclusive 10-year supply contract with Lanxess AG for isobutanol as a raw material for butyl rubber and polybutadiene.

In an SEC filing, Gevo said, "we have granted Lanxess Inc., subject to certain exceptions and conditions, an exclusive right to acquire our bio-based isobutanol to (a) produce isobutylene and butenes for use and sale in the field of chemicals, (b) produce butadiene and isobutylene for use in the production of polybutadiene and butyl rubber, and (c) produce isobutylene for use in the production of polyisobutylene. "

Ron Commander, head of Lanxess butyl rubber business is a director of Gevo.

The main focus of the SEC filing was to reduce the expected revenues from its IPO to around $120 million from around $150 million.

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SEC filing from Gevo Inc. (Search on "Lanxess" and/or "Commander") or scroll down to the bottom of page 172.