HCS Group signs long-term supply agreement with Gevo
HCS Group GmbH (HCS), a global supplier of solutions for high-value hydrocarbon specialties, announced that it has signed a five-year off-take agreement on renewable isooctane with Gevo Inc.
“We are very pleased to partner with Gevo to further develop the next-generation biofuels and bio-based chemical products market”, says Uwe Nickel, CEO of HCS Group.
The specialty chemical company, which is headquartered in Frankfurt, Germany, uses isooctane in a variety of fuel and solvent applications.
Over the past years, HCS has started to develop and market a portfolio of sustainable technologies. The so-called “ECO Base” products offer superior physical and chemical properties for various applications, excellent biodegradability and a lower carbon footprint.
“Sustainability is a key element of our business strategy. With Gevo we have found the ideal partner to further expand our advanced ecologically sound portfolio for our customers”, says Henrik Krüpper, chief commercial officer of HCS Group.
Being the first contractual long-term customer of Gevo’s sustainable technology demonstrates the strong commitment of HCS to invest in viable and future-oriented concepts.
“We are convinced about the maturity and competitiveness of Gevo’s technology,” says Krüpper. “As our relationship with Gevo builds, we look forward to marketing other bio-based materials.”
The supply agreement with Gevo consists of two phases. In the first phase, commencing May 2017, HCS will purchase isooctane produced at Gevo’s demonstration hydrocarbon plant in Silsbee, Texas, U.S.A. In the second phase, HCS has agreed to purchase a large volume of isooctane per year from Gevo’s first commercial hydrocarbon facility, which is expected to be built at Gevo’s existing isobutanol production facility located in Luverne, Minn., U.S.A.
“We are thrilled to join forces with Haltermann Carless, which is world renowned in the industry for the high quality of its hydrocarbon products,” said Patrick Gruber, Gevo CEO.
“By combining technical know-how and new renewable technologies, we start a very promising partnership in developing and implementing next-generation biofuels and bio-based chemical products.”