Gevo welcomes recent Trump administration plans to boost US biofuel consumption

  • Oct 09, 2019
  • Proactive Investors

Gevo, Inc. (NASDAQ:GEVO), a leading renewable fuels and chemicals manufacturer, has responded to the recent plans put forward by President Trump’s administration to boost US biofuel consumption to help US farmers with a Renewable Fuel Standard (RFS).

In a statement on Tuesday, stated Patrick Gruber, Gevo’s chief executive officer said: “Friday’s announcement by the EPA (Environmental Protection Agency) is a step in the right direction and will hopefully put the RFS back on track after 31 oil refineries received exemptions back in August.”

He added: “I’m glad President Trump supported this step. A robust renewable fuel standard is important for our farmers, the biofuel industry, and reducing greenhouse gases. Every drop of biofuel we get into the market is a win and helps to change the conversation about what is possible from low carbon, sustainable biofuels.”

Gruber concluded: “With Gevo it is possible, for example, to replace an entire gallon of transportation fuel with fuels that are renewable with net zero, or even carry a negative, GHG profile. That is a game changer. Good for farmers, good for consumers, good for the environment.”

Gevo is a next generation “low-carbon” fuel company focused on the development and commercialization of renewable alternatives to petroleum-based products.

On Monday, the firm announced that it has supplied sustainable aviation fuel (SAF) for aircraft general aviation’s largest tradeshow to further support carbon neutrality goals in the aviation industry.

The company said its customer and global fuel supplier, Avfuel Corporation, has partnered with fixed-base operator, Avflight Salina at Salina Regional Airport and Henderson Executive Airport to provide SAF for aircraft headed to the Business Aviation Convention & Exhibition (BACE) in Las Vegas, Nevada beginning October 17.

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