Gevo gives corporate update for 2018; to cut staff, salaries

Gevo Inc (GEVO) announced its key initiatives for 2018:

• Gevo reaffirms its focus on the commercial development of renewable jet fuel, renewable isooctane, isobutanol and related products. The goal is to aggregate enough confirmed commercial off-take to support the capital expense of expanding Gevo’s production facility based in Luverne (Luverne facility). Gevo plans to expand its business development capabilities in 2018 to achieve this goal.
• Gevo is undertaking several initiatives to improve the cash flow profile of its business in 2018 compared to 2017. This improvement is expected to be achieved by increasing sales of isobutanol into the ethanol-free marketplace, increasing sales of its alcohol-to-jet fuel (ATJ) and isooctane produced out of Gevo’s hydrocarbon demonstration plant based in Silsbee, Texas, improving the cash flow profile at the Luverne facility and reducing overall corporate expenses.
• Gevo expects to sign its first commercial license in India, through its partnership with Praj Industries.

In 2018, Gevo expects to improve the cash flow out of the Luverne facility by optimizing the plant’s ethanol production processes, developing value-added products for ethanol and animal feed produced at the plant and further reducing the cost of the plant’s carbohydrate feedstock.

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