Gevo inks joint development agreement with Australia’s Leaf Resources
Category: #energy-and-environment  By Anchal Solanki  Date: 2019-09-12
  • share
  • Twitter
  • Facebook
  • LinkedIn
Gevo inks joint development agreement with Australia’s Leaf Resources
  • Gevo and Leaf Resources has signed a joint development agreement to explore the possibility to convert cellulose derived sugar and glycerol as an alternative fuel.
     
  • The joint development agreement is structured around three phases of work.

One of the leading renewable fuel company, Gevo Inc., has reportedly signed a Joint Development Agreement with Leaf Resources, an Australian company which has expertise in converting plant biomass into industrial sugars. According to the agreement, the company plans to convert glycerol and sugars derived from plant cellulose to hydrocarbon molecules to explore its potential to convert into alternative fuels or chemicals.

Sources cite that the agreement will be carried out in three phases. The first phase will include investigating the project’s commercialization and exploring the feasibility of a potential facility. Moreover, both the companies will bear their own cost during this phase, whereas funding for remaining phases will be laid out in a written agreement in the future.

Patrick Gruber, CEO of Gevo, states that Leaf’s progress in Queensland and Malaysia and its comprehensive work related Glycell process creates the potential for a mutually beneficial relationship. He claims that Leaf, as a partner in the region, could help the company drive its strategy, further giving access to sugars as feedstock, fuel and chemical market in a rapidly growing economic region.

Gruber added that their firm is already supplying Virgin Australia with non-exhaustible jet fuel and has witnessed an added potential demand in Australia and Asia.

As per Leaf Resources CEO, Alex Backer, the company wants to explore the potential of renewable resources as alternative petroleum-based fuel with Gevo. He claims that, as the demand for alternative fuels will significantly increase in the coming years, this agreement will become beneficial for both the companies.

For the record, Gevo is a low carbon fuel company working towards commercialization and development of fuel-based renewable products. The company is focused on the production and development of mainstream fuels like jet fuel and gasoline using renewable feedstocks.

Source Credit - https://www.proactiveinvestors.com/companies/news/902425/gevo-reaches-joint-development-agreement-to-explore-converting-plant-sugars-into-fuel-902425.htm

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Anchal Solanki

Anchal Solanki    

A civil engineer by qualification, Anchal Solanki forayed into the domain of content writing in the midst of her graduation, embarking on the career path of a successful freelancer. Equipped with a short-term experience in market research, Anchal currently writes news...

Read More >>

More News By Anchal Solanki

CoreKinect & Kudelski debut disposable cold chain tracking solution
CoreKinect & Kudelski debut disposable cold chain tracking solution
By Anchal Solanki

The food track solution revolutionizes cold chain tracking.   Cutting-edge sensors manufactured at a disruptive price point takes a quantum leap. The Kudelski Group (SIX: KUD.S) and Corekinect today announced the roll out of much-anticipat...

Aroma Bit secures funds to develop next-generation odor imaging sensor
Aroma Bit secures funds to develop next-generation odor imaging sensor
By Anchal Solanki

The company has undertaker shares with Sony Innovation Fund by IGV, which will be used to enhance the feature of its odor sensors. Aroma Bit, Inc., a Tokyo-based tech organization, has reportedly undertaken a 3rd party allocation of new shares with ...

Amazon Australia announces partnership with Zip Co. for BNPL service
Amazon Australia announces partnership with Zip Co. for BNPL service
By Anchal Solanki

  Zip would become Amazon’s first “Australian installment payment option”. Zip shares soared around 24.1%, right after the market open to A$4.27. E-commerce giant, Amazon Inc.’s Australia unit has reportedly entered...