Gevo, Inc. (NASDAQ: GEVO) announced today that it has signed a binding, definitive Construction License Agreement with Praj Industries Ltd., dated April 4, 2019, to commercialize the production of renewable isobutanol using sugary-based feedstocks, such as juice, syrup and molasses made of sugarcane and sugar beets (the “Construction License Agreement”). Pursuant to the Construction License Agreement, Praj will provide engineering procurement and construction services to certain third party customers using a process design package that incorporates Gevo’s proprietary isobutanol biocatalyst and is designed for use with sugary-based feedstocks (the “PDP”). The PDP is jointly owned by Gevo and Praj. Gevo has granted a license to Praj that would allow Praj to provide such services to certain third party customers.
By Global News Wire