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Gevo and Beta Renewables sign joint venture agreement

Gevo, Inc., a leading renewable chemicals and next-generation biofuels company headquartered in Colorado, U.S.A., signed a Joint Development Agreement (JDA) with Beta Renewables, a joint venture between Chemtex and TPG. The JDA will develop an integrated process which will be used to produce bio-based isobutanol from cellulosic, non-food biomass.”Gevo has always said that we are feedstock agnostic and, when the technology and feedstock supply chain are ready, we would use our isobutanol process with cellulosic feedstocks. This allows us to access a larger carbohydrate pool as feedstock for isobutanol production, which help keep costs down and enables production facilities in regions of the world rich in biomass resources,” said Chris Ryan, Gevo COO and president. Ryan added, “With the success of our Luverne, Minn., plant start-up and Beta Renewables’ cellulosic sugar technology, we’re ready to position Gevo to be on the forefront of cellulosic isobutanol and isobutanol derivatives, such as jet fuel, through the integration of the companies’ respective technology platforms. Beta Renewables is a leader in cellulosic conversion technology and we look forward to a range of collaborations, including partnering with Beta to meet the requirements of the U.S. government’s Defense Production Act Title III project.” Beta Renewables has begun construction of a 60,000 metric ton per year bio-refinery in Crescentino, Italy. The plant will produce cellulosic ethanol using the companyโ€™s PROESA process in addition to โ€œgreenโ€ electricity. Start-up for the plant is expected to begin by the end of 2012. (July 10, 2012)