News
| February 24, 2021
Gevo And HCS Group Sign Strategic Agreement To Produce Renewable Low-Carbon Chemicals And Sustainable Aviation Fuel In Europe
Englewood, CO (GLOBE NEWSWIRE) - Gevo, Inc. (“Gevo”) (NASDAQ: GEVO), announced today that Gevo and HCS Group GmbH, a long-time customer of Gevo, have signed a project memorandum of understanding (“MOU”) to develop and build a renewable hydrocarbon facility at HCS Group’s site located in Speyer, Germany, which would utilize Gevo’s low-carbon sustainable aviation fuel (“SAF”) technology.
The MOU anticipates a first project that is estimated to produce approximately 60 kMT (22 million gallons per year) of renewable hydrocarbons, advanced renewable fuels, and low-carbon SAF at HCS Group’s Speyer site by the end of 2024. The HCS Group manufacturing center, operated by the Haltermann Carless brand, is strategically located in the geographical center of Europe, at the Rhine river and in the vicinity of Frankfurt airport, offering excellent prerequisites for supplying customers in Europe with SAF, certified under Europe’s Renewable Energy Directive (“EU REDII”), and a portfolio of certified renewable drop-in fuels and specialty chemicals.