Gevo to acquire agri-energy ethanol production facility

摘要

Gevo, a privately held renewable chemicals and advanced biofuels company, has signed definitive agreements to acquire Agri-Energy's ethanol production facility in Luverne, Minn. "This transaction is another important step in achieving our goal of bringing commercial volumes of renewable isobutanol to the market as soon as possible," said Dr. Patrick Gruber, CEO of Gevo. "The Luverne plant is a well run facility with a strong operating team. It is a great place to begin our commercialization effort." Mechanical retrofitting of the plant will begin upon closing the transaction. Isobutanol production is expected to begin by the first quarter of 2012.