Porta Hnos S.A. Signs Agreement to Become Exclusive Licensee of Gevo’s GIFT® Technology in Argentina and produce BIO-ISOBUTANOL
Gevo, Inc.(USA), the world’s only commercial producer of renewable isobutanol, announced today that Porta Hermanos S.A. (“Argentina) has signed a letter of intent to become the exclusive licensee of GIFT® technology in Argentina to produce renewable isobutanol. Gevo’spatent-protected, capital-light business model converts existing ethanol plants into bio-refineries to make isobutanol. This versatile chemical can be directly integrated into existing chemical and fuel products to deliver environmental and economic benefits
“Isobutanol’s versatility and hydrocarbon-like properties make it an ideal renewable fuel and chemical for Argentina and Gevo’s GIFT® technology is the most efficient way to produce it,” said Fernando Porta, Vice President of Porta. “Porta is already a leading ethanol producer in Argentina and we would like to expand our footprint to other high-value renewable alcohols such as isobutanol.”
Porta is a 132 year old family owned company in Argentina that produces liquor, vinegars and has a 120 m3/day corn ethanol plant. In addition, Porta has designed and built two 250 m3/day ethanol plants for others and they are working on 2 more ethanol plants for 2014. Half of all current ethanol plants in Argentina were designed by Porta, and they have a joint venture with Alpha Laval to provide separation and evaporation expertise.
“Commercial licensing of our GIFT® technology in the US and abroad is the next step in Gevo’s business model and we are very pleased to be working in Argentina with an industry leader like Porta,” said Patrick Gruber, Gevo’s chief executive officer. “Commercial licenses demonstrate the value of Gevo’s GIFT® technology to the market place, and it enables a low-capital route to building out renewable isobutanol capacity globally.”
Gevo thus adds Porta to an already impressive list of collaborative partnerships with The COCA-COLA Company and TORAY on paraxylene, a key component of terephtalate polymers, as well as with SASOL Chemical Industries, TOTAL, LANXESS, Inc., and MANSFIELD OIL on jet and marine bio-fuels.