Gevo purchases ethanol facility in Minnesota
Gevo has signed definitive agreements to acquire Agri-Energy’s ethanol production facility in Luverne, Minnesota.
“This transaction is another important step in achieving our goal of bringing commercial volumes of renewable isobutanol to the market as soon as possible,” said Dr. Patrick Gruber, CEO of Gevo. “The Luverne plant is a very well run facility with a strong operating team. It is a great place to begin our commercialization effort. We expect the facility will be the first among many and want it to be a model project for the future.”
Mechanical retrofitting of the plant will begin upon closing the transaction. Isobutanol production is expected to begin by the first quarter of 2012. During most of the retrofit process, it is expected that the facility will continue to produce ethanol.
Gevo has developed a proprietary process designed to fit into current ethanol production facilities. The process also enables the production of isobutanol from numerous renewable feedstocks including corn, wheat, sorghum, barley, sugar cane and cellulosic feedstocks when biomass conversion becomes commercially available. Gevo’s integrated fermentation technology platform consists of two components: a yeast biocatalyst and a separations technology unit that bolts into existing ethanol plants.
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