- Gevo (NASDAQ:GEVO) +2.2% pre-market after announcing a strategic alliance with Axens North America aiming at accelerating the commercialization of sustainable ethanol-to-jet projects in the U.S.
- Axens will bring technologies with more than 60 related patents, engineering packages and certain proprietary equipment required to convert ethanol into jet fuel, while Gevo expects to develop, own and operate ETJ plants to produce sustainable aviation fuel, utilizing its expertise in renewable alcohol production and technologies.
- "The collaboration between Gevo and Axens is expected to allow Gevo to rapidly partner with existing ethanol producers to deploy proven technologies at commercial scales consistent with the airline industry’s sustainability goals," Gevo CEO Patrick Gruber says.
- Gevo recently said it received a U.S. patent for a process that upgrades ethanol and bio-based alcohols into drop-in bio-based diesel and jet fuel products.