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Bio-isobutanol company Gevo signs licensing and joint development agreements with Porta in Argentina; corn feedstock
February 03, 2016
Gevo, Inc. has entered into a license agreement and a joint development agreement with Porta Hnos S.A. to construct multiple isobutanol plants in Argentina using corn as a feedstock.
The first plant is to be wholly owned by Porta and is anticipated to begin producing isobutanol in 2017. The plant is expected to have a production capacity of up to five million gallons of isobutanol per year. Based on projected isobutanol pricing, Gevo estimates that it could generate approximately $1 million in annual revenues once the plant is operational, through royalties, sales and marketing fees, and other revenue streams such as yeast sales.