Gevo and ICM Form Strategic Alliance to Produce Third Generation Biofuels
By R. Brown, Web Exclusive Posted Nov. 01, 2008
Pasadena, California-based start-up, Gevo in a press release earlier this week announced a strategic alliance with biofuels-plant construction company ICM to produce isobutanol and other hydrocarbons.
Under the terms of the agreement, ICM will retrofit its Joseph, MO plant as a demonstration unit for Gevo’s Integrated Fermentation Technology (GIFT). ICM will serve as the exclusive engineering, procurement, and construction (EPC) contractor for Gevo’s GIFT technology. Gevo on the other hand, will be ICM's exclusive partner for the production of butanols, pentanols, and propanols. The alliance will serve to reduce implementation time required for Gevo to commercialize its biofuel products using ICM’s technical know-how.
“ICM is an ideal partner for Gevo,” stated Dr. Patrick Gruber, CEO of Gevo, Inc. “They have built or designed roughly two-thirds of the existing ethanol plants in North America and they are a pioneer in new biorefinery technology.”
“Gevo’s technology is innovative, yet very simple and a great way to create additional value for agricultural products. ICM is excited about the opportunity to work with Gevo in bringing renewable energy solutions to consumers worldwide,” stated Dave Vander Griend, founder and CEO of ICM, Inc. “Over the years, ICM has proven its ability to bring alternative energy technologies from concept to creation. Our core strength of accelerating the commercialization of various products and processes has made a tremendous impact on the biofuels industry and we’re eager to join Gevo in building the next section of our bridge to energy independence with advanced biofuels technology,” said Vander Griend.
Gruber pointed out the advantageous economics of the alliance and GIFTTM by noting a gallon of isobutanol using their process will cost less than 60 cents/gallon, which “is a win-win for both the agricultural and petrochemical industries”
About Gevo
Formed in 2005, Gevo is dedicated to bringing renewable, cost-effective alternatives for fossil fuels and chemicals to consumers worldwide. “Our goal is to meet the increasing demand for energy and chemicals while reducing our impact on the earth,” says CEO Patrick Gruber. Gevo will accomplish this by converting renewable resources into fuels and green chemicals. For more information about Gevo please visit www.gevo.com.
About ICM
Since 1995, ICM, Inc. has focused on sustaining agriculture through innovation by engineering, building, and supporting the renewable fuel industry’s leading biorefineries. Proprietary ICM process technology is behind 5.1 billion gallons of ethanol production per year—more than half of North America’s annual production. The company backs every facility they design with the most aggressive yield, energy, and emissions guarantees available. The full-service provider also offers a comprehensive line of more than 30 products and services tailored to make biofuels production more efficient and more profitable. ICM is further upholding their responsibility as an industry leader by heavily investing in the continued advancement of renewable energy technologies. In an effort to speed that advance, the company has been conducting intensive testing at their two state-of-the art biofuels research facilities in conjunction with a growing list of strategic partners spanning multiple industries. For more information, please visit www.icminc.com.