Gevo and Praj sign licensing and development deals
Gevo, Inc., has announced that it has entered into a license agreement and a joint development agreement with Praj Industries Ltd to enable the licensing of Gevo’s isobutanol technology to processors of non-corn based sugars, including the majority of Praj’s global customer base of ethanol plant owners.
US-based advanced renewable fuel and biochemical platform technology company, Gevo Inc., has announced that it has entered into a license agreement and a joint development agreement with India-based ethanol plant engineering, procurement and construction (EPC) provider, Praj Industries Ltd, to enable licensing of Gevo’s isobutanol technology to processors of non-corn based sugars, including the majority of Praj’s global client base of ethanol plant owners.
Praj will invest in the development and optimisation of Gevo’s isobutanol technology for use with non-corn feedstocks including sugarcane, sugar beet, cassava, rice, sorghum, wheat and certain cellulosic sugars. This is anticipated to lead to process design packages (“PDP”) that would be expected to accelerate the licensing of Gevo technology to users of these feedstocks.
The duo will also work to commercialise Gevo’s technology for making renewable jet fuel from isobutanol in India. Gevo and Praj expect to license up to 250 million gallons (≈ 946.3 million litres) of biobutanol capacity over the next ten years under this partnership.
– We are pleased to partner with Gevo in the commercialisation of their isobutanol technology. We believe that the potential for isobutanol is significant and that it could provide our customers a path to meaningfully improve their profits. We have been working diligently with Gevo for the better part of 2015, and are glad to finally sign binding agreements with them. We look forward to creating a new and profitable opportunity for 1st generation ethanol plant owners, as well as accelerating the use of 2nd generation cellulosic feedstocks to produce isobutanol, said Pramod Chaudhari, Executive Chairman of Praj Industries.
– Praj is a global leader, particularly in the non-corn ethanol sector. Praj shares the vision of Gevo of making bio-based products for chemicals and fuels, adding value to existing alcohol plants. We are pleased to see them making these investments, demonstrating their belief in our isobutanol technology. Licensing is expected to be a key growth area for Gevo, and we very much look forward to Praj being one of Gevo’s key partners in rolling out our technology globally. We are also excited to be able to leverage their engineering expertise to potentially help improve our operating costs at Luverne. Any efficiencies we identify will help improve the overall operating costs of isobutanol, which will only expand the profit potential for Gevo and our future licensees, said Dr Patrick Gruber, Gevo’s Chief Executive Officer.