Gevo Applauds President Biden’s Executive Actions Supporting Sustainable Aviation Fuel
ENGLEWOOD, Colo., April 13, 2022 (GLOBE NEWSWIRE) -- Gevo, Inc. announced today that it applauds President Joe Biden’s new actions to support sustainable aviation fuel (SAF). As part of the Biden administration’s plans to expand the availability of higher biofuels-blended gasoline throughout the summer, the administration also announced a series of initiatives that will create economic opportunity for agricultural communities by spurring the SAF market. Three of the key proposals are (i) supporting increased production of SAF to at least 3 billion gallons per year by 2030, (ii) new and ongoing funding opportunities for SAF projects totaling up to $4.3 billion, and (iii) an increase in research and development activities to achieve at least a 30 percent improvement in aircraft fuel efficiency.
“Gevo believes that SAF and expanding access to biofuel-blended gasoline are essential components of American energy independence,” said Dr. Patrick R. Gruber, chief executive officer of Gevo. “Bio-feedstocks that can cut carbon, produce food, create domestic jobs, and ensure farmers are maximizing their incomes. We also know that more than four out of five American support increased renewable fuel production. The Biden Administration is taking a good step forward.”
Gevo recently signed agreements with US-based Delta Air Lines for up to 75 million gallons of SAF per year, demonstrating the demand for SAF as airlines seek ways to lower their own, as well as their customers’ carbon footprints.
Gevo is focused on sustainability at every stage of production and has developed two alcohol-to-jet pathways that can utilize various feedstocks grown using renewable agricultural and sustainable farming techniques. These feedstocks are then converted, in some cases, to high-value nutrition products and energy-dense liquid hydrocarbons, including SAF. Gevo’s production processes will incorporate renewable energy, including wind turbines, biogas, and combined heat and power systems to increase efficiency and reduce carbon intensity to net-zero levels, which will then be passed on to the customer through the fuel. This is particularly helpful for customers, such as airlines, that seek to reduce their carbon intensity.
