Airline Virgin Australia Hits 1 Million Kilometer Milestone Flying Gevo's Sustainable Jet Fuel

Globe Newswire 17-Jun-2019 9:01 AM

ENGLEWOOD, Colo., June 17, 2019 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ:GEVO) announced today that Virgin Australia has used Gevo's Sustainable Aviation Jet Fuel (SAJF) to power 1 million kilometers of flights, for all aircraft operating in and out of Brisbane Airport when the fuel was put through the general fuel supply system. This marks another important step for Virgin Australia towards building a supply-chain for the long-term commercial use of Gevo's SAJF in Australia to lower greenhouse gas emissions.

Since the first container of SAJF was delivered to Brisbane back in August 2018, Virgin Australia has continued to work with Gevo and has welcomed three more deliveries of the SAJF since this time.

Virgin Australia Chief Legal and Risk Officer, Dayna Field, said the one million kilometers flown represents an important milestone and demonstrates that this low carbon product can go the distance. "Virgin Australia is proud to have led this initiative in Brisbane, as it has been an important step in promoting the use and production of sustainable aviation fuels in our region."

"We are actively looking at ways to reduce our carbon emissions and low-carbon fuels present a real opportunity. As a diversified airline group, we know that establishing a local low-carbon fuel industry will have positive environmental, social and economic impacts," she said. 

Patrick R. Gruber, the Chief Executive Officer of Gevo, Inc., commented, "We are pleased to be working with Virgin Australia to get our de-fossilized, sustainable jet fuel into the Australian air. We appreciate the efforts of all the project partners, the Queensland Government, the Brisbane Airport, Caltex and DB Schenker who have all tirelessly worked to commence the transformation of the Australian jet fuel supply chain. This is a very good milestone which demonstrates the potential for the future."

About Gevo

Gevo is a next generation "low-carbon" fuel company focused on the development and commercialization of renewable alternatives to petroleum-based products. Low-carbon fuels reduce the carbon intensity, or the level of greenhouse gas emissions, compared to standard fossil-based fuels across their lifecycle. The most common low-carbon fuels are renewable fuels. Gevo is focused on the development and production of mainstream fuels like gasoline and jet fuel using renewable feedstocks that have the potential to lower greenhouse gas emissions at a meaningful scale and enhance agricultural production, including food and other related products. In addition to serving the low-carbon fuel markets, through Gevo's technology, Gevo can also serve markets for the production of chemical intermediate products for solvents, plastics, and building block chemicals.  Learn more at our website: www.gevo.com

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, statements related to Virgin Australia, whether Virgin Australia will use or purchase Gevo's SAJF in the future, and other statements that are not purely statements of historical fact.  These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2018, as amended, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.