Gevo and LG Chem extend their partnership to develop sustainable chemicals using Gevo’s Ethanol-to-Olefins technology.
Quiver AI Summary
Gevo, Inc. and LG Chem, Ltd. are extending their joint development agreement to enhance the commercialization of Gevo's Ethanol-to-Olefins (ETO) technology, which aims to create renewable chemicals and materials. This partnership allows LG Chem to evaluate its existing resources for deploying ETO technology and ramp up commercialization efforts related to sustainable products like bio-propylene and sustainable aviation fuel. Gevo's Chief Carbon and Innovation Officer, Dr. Paul Bloom, emphasized the potential of their ETO technology to significantly reduce carbon emissions in the petrochemical sector, while LG Chem's Vice President, Dong-hyun Cho, highlighted the synergy gained through their collaboration to advance environmentally friendly business strategies. This technology is anticipated to be pivotal for the bioplastic market and could replace traditional petroleum-based materials across various applications.
Potential Positives
- Gevo's extension of the joint development agreement with LG Chem demonstrates a strong commitment to advancing sustainable chemical technologies, specifically targeting carbon-neutral or carbon-negative alternatives.
- The collaboration is set to accelerate commercialization of Gevo’s Ethanol-to-Olefins technology, positioning the company to capitalize on the growing bioplastic market and circular economy.
- The press release highlights Gevo's innovative technology as part of a larger strategy to develop cost-effective bio-based renewable fuels, enhancing its competitive edge in the market.
- LG Chem’s involvement emphasizes the credibility and potential market demand for Gevo's patented technologies, likely increasing investor confidence in Gevo's business model.
Potential Negatives
- The press release prominently features forward-looking statements, which carry inherent risks and uncertainties that could lead to actual results differing materially from expectations.
- The emphasis on commercialization activities being accelerated "ahead of the timeline we originally planned" suggests previous delays or setbacks in the project’s timeline.
- Gevo's business model heavily relies on successful commercialization of its technologies, and any failure to do so could significantly impact investor confidence and the company's financial future.
FAQ
What is the purpose of the Gevo and LG Chem agreement extension?
The extension allows LG Chem to assess assets for Gevo’s ETO technology and accelerate commercialization efforts.
How does Gevo's ETO technology contribute to sustainability?
Gevo's ETO technology aims to produce carbon-neutral or negative alternatives to petroleum-based products, like renewable fuels and chemicals.
What industries can benefit from bio-propylene produced by Gevo?
Bio-propylene can replace petroleum products in various applications, including auto parts, flooring, and diapers, enhancing the bioplastic market.
What are Gevo's main business operations?
Gevo focuses on developing and operating facilities for sustainable fuels, specializing in renewable natural gas and alcohol-to-jet fuels.
What is LG Chem's sustainability commitment?
LG Chem aims for carbon-neutral growth by 2030 and net-zero emissions by 2050 through responsible practices and renewable energy initiatives.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$GEVO Insider Trading Activity
$GEVO insiders have traded $GEVO stock on the open market 20 times in the past 6 months. Of those trades, 0 have been purchases and 20 have been sales.
Here’s a breakdown of recent trading of $GEVO stock by insiders over the last 6 months:
- KIMBERLY T BOWRON (Chief People and IT Officer) has traded it 4 times. They made 0 purchases and 4 sales, selling 54,793 shares.
- ANDREW SHAFER (Chief Cust Mkt & Brnd Officer) sold 26,911 shares.
- PAUL D BLOOM (CCO & CIO) has traded it 4 times. They made 0 purchases and 4 sales, selling 135,055 shares.
- L LYNN SMULL (Chief Financial Officer) has traded it 3 times. They made 0 purchases and 3 sales, selling 139,585 shares.
- PATRICK R. GRUBER (Chief Executive Officer) has traded it 3 times. They made 0 purchases and 3 sales, selling 400,670 shares.
- CHRISTOPHER MICHAEL RYAN (President & COO) has traded it 3 times. They made 0 purchases and 3 sales, selling 170,443 shares.
- ALISHER K NURMAT (VP AND TREASURER) has traded it 2 times. They made 0 purchases and 2 sales, selling 8,349 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$GEVO Hedge Fund Activity
We have seen 37 institutional investors add shares of $GEVO stock to their portfolio, and 104 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JANE STREET GROUP, LLC removed 3,233,377 shares (-93.2%) from their portfolio in Q3 2024
- MILLENNIUM MANAGEMENT LLC removed 1,496,454 shares (-28.9%) from their portfolio in Q3 2024
- THOMIST CAPITAL MANAGEMENT, LP removed 1,399,764 shares (-100.0%) from their portfolio in Q3 2024
- NORTHERN TRUST CORP removed 1,271,052 shares (-72.3%) from their portfolio in Q3 2024
- BAIRD FINANCIAL GROUP, INC. removed 1,109,899 shares (-96.9%) from their portfolio in Q3 2024
- GOLDMAN SACHS GROUP INC removed 947,192 shares (-78.5%) from their portfolio in Q3 2024
- NUVEEN ASSET MANAGEMENT, LLC removed 910,990 shares (-100.0%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
ENGLEWOOD, Colo., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) and LG Chem, Ltd. (KRX: 051910), leading global chemical companies committed to producing sustainable products, are extending their joint development agreement (the “Agreement”). The agreement extension enables LG Chem to assess existing assets for deploying Gevo’s Ethanol-to-Olefins (“ETO”) technology while accelerating commercialization activities, considering project scale and end-product markets.
“Gevo’s partnership with LG Chem is a great example of how we intend to accelerate development and commercialization of our patented ETO technology to enable renewable chemicals with our world-class partner,” said Gevo’s Chief Carbon and Innovation Officer, Dr. Paul Bloom. “Our ethanol-to-olefin process holds immense promise to decarbonize a substantial portion of the market for propylene, and LG Chem is starting commercial activities ahead of the timeline we originally planned.”
Gevo’s patented ETO technology can target carbon-neutral or carbon-negative drop-in replacements for traditional petroleum-based building blocks. These are core olefins, that can be used for renewable fuels and chemicals, including sustainable aviation fuel and bio-propylene. ETO technology is just one of multiple patented technologies that Gevo is bringing to bear on the challenges of developing cost-effective bio-based renewable fuels and chemicals.
“LG Chem is committed to scaling pathways to sustainable products, and leveraging partnerships is a proven way to gain access to proprietary technologies and share ours,” said Dong-hyun Cho, Vice President, Head of LG Chem’s Petrochemicals R&D. “Our joint development agreement with Gevo is already helping LG Chem to shape sustainable and eco-friendly future business strategies.”
Because it can replace fossil-based products as a renewable raw material for various plastic products, bio-propylene is expected to play a pivotal role in the rapid growth of the bioplastic market and circular economy. Once commercialization is achieved, bio-propylene could be used as a drop-in replacement for use in a range of products from auto parts to flooring to diapers to replace petroleum products with bio-based materials with a low or negative carbon footprint.
About Gevo
Gevo's mission is to convert renewable energy and biogenic carbon into sustainable fuels and chemicals with a net zero or better carbon footprint. Gevo’s innovative technology can be used to make a variety of products, including sustainable aviation fuel (“SAF”), motor fuels, chemicals, and other materials. Gevo’s business model includes developing, financing, and operating production facilities for these renewable fuels and other products. It currently runs one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States. It also owns the world’s first production facility for specialty alcohol-to-jet (“ATJ”) fuels and chemicals. Gevo emphasizes the importance of sustainability by tracking and verifying the carbon footprint of their business systems through its Verity subsidiary.
For more information, see
www.gevo.com
.
About LG Chem
LG Chem is a leading global chemical company with a diversified business portfolio in the key areas of petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of products from high-value-added petrochemicals to renewable plastics, specializing in cutting-edge electronic and battery materials, as well as drugs and vaccines to deliver differentiated solutions for its customers. LG Chem is committed to reaching carbon-neutral growth by 2030 and net-zero emissions by 2050 by managing the impacts of climate change and making positive contributions to society through renewable energy and responsible supply chains. Headquartered in Seoul, Korea, LG Chem has multiple operation sites worldwide and generated consolidated revenue of KRW 55.2 trillion (USD 42.3 billion) in 2023.
For more information, visit
www.lgchem.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, Gevo’s ETO technology, the commercial benefits of bio-propylene, whether the ETO technology will be commercialized, the benefits that might accrue as a result of the Agreement with LG Chem, and other statements that are not purely statements of historical fact. These forward-looking statements are made based on 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, 2023, 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.
Media Contact
Heather Manuel
Vice President, Stakeholder Engagement & Partnerships
PR@gevo.com
IR Contact
Eric Frey
Vice President of Corporate Development
IR@Gevo.com
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