Gevo issues exclusive Argentina license for isobutanol technology
Gevo Inc., the world's only commercial producer of renewable isobutanol, announced today that Porta Hnos S.A. has signed a letter of intent to become the exclusive licensee of GIFT(R) in Argentina to produce renewable isobutanol.
"Isobutanol's versatility and hydrocarbon-like properties make it an ideal renewable fuel and chemical for Argentina and Gevo's GIFT(R) technology is the most efficient way to produce it," said Fernando Porta, Vice President of Porta. "Porta is already a leading ethanol producer in Argentina and we would like to expand our footprint to other high-value renewable alcohols such as isobutanol."
Porta is a 132-year-old, family-owned company in Argentina that produces liquor, vinegars and has a 120 m3/day corn ethanol plant. In addition, Porta has designed and built two 250 m3/day ethanol plants for others and they are working on two more ethanol plants for 2014. Half of all current ethanol plants in Argentina were designed by Porta, and they have a joint venture with Alpha Laval to provide separation and evaporation expertise.
"Commercial licensing of our GIFT(R) technology in the U.S. and abroad is the next step in Gevo's business model and we are very pleased to be working in Argentina with an industry leader like Porta," said Patrick Gruber, Gevo's CEO. "Commercial licenses demonstrate the value of Gevo's GIFT(R) technology to the market place and enables a low-capital route to building out renewable isobutanol capacity globally."