[an error occurred while processing this directive]
Skip to Main Content

Latest News

Advertisement
Advertise Here
August 23, 2010
Volume 88, Number 34
p. 9
DOI:10.1021/CEN081910140310

Renewables: Gevo Files IPO To Fund Biofuels, Chemicals Development

Marc S. Reisch

  • Print this article
  • Email the editor

Latest News



October 28, 2011

Speedy Homemade-Explosive Detector

Forensic Chemistry: A new method could increase the number of explosives detected by airport screeners.

Solar Panel Makers Cry Foul

Trade: U.S. companies complain of market dumping by China.

Novartis To Cut 2,000 Jobs

Layoffs follow similar moves by Amgen, AstraZeneca.

Nations Break Impasse On Waste

Environment: Ban to halt export of hazardous waste to developing world.

New Leader For Lawrence Livermore

Penrose (Parney) Albright will direct DOE national lab.

Hair Reveals Source Of People's Exposure To Mercury

Toxic Exposure: Mercury isotopes in human hair illuminate dietary and industrial sources.

Why The Long Fat?

Cancer Biochemistry: Mass spectrometry follows the metabolism of very long fatty acids in cancer cells.

Text Size A A

Biofuels and chemicals maker Gevo has filed preliminary documents with the Securities & Exchange Commission for an initial public offering (IPO) of shares worth up to $150 million.

The money Gevo raises would help finance a network of fermentation-based biorefineries to produce isobutyl alcohol-based fuels and feedstocks for plastics, fibers, rubber, and other polymers.

Since its inception in 2005, however, the firm has accumulated a deficit of $50.3 million. Revenues last year amounted to $660,000, none of it from the sale of isobutyl alcohol—most came from government grants and cooperative agreements.

Nonetheless, Gevo has a blue chip slate of investors including Burrill & Co., Khosla Ventures, and the Virgin Green Fund. French oil and gas firm Total invested in the firm in April 2009. In May, German synthetic rubber producer Lanxess invested $10 million in Gevo and inked an agreement to jointly develop a renewable route for isobutene to make butyl rubber, which is used to manufacture tires.

According to Samhitha Udupa, an analyst for Lux Research, it’s “IPO or bust now” for many clean technology firms. The market for IPOs has improved recently because other capital-raising options are less available.

Algae-to-fuels maker PetroAlgae filed an IPO for up to $200 million earlier this month, and biomass-to-fuels developer Codexis recently raised $78 million in an IPO.

Gevo has a good story too, Udupa adds, especially because biochemicals are “in a sweet spot right now,” where buyers are willing to pay more than for traditional petrochemicals if they can get added performance benefits.

Chemical & Engineering News
ISSN 0009-2347
Copyright © 2011 American Chemical Society
  • Print this article
  • Email the editor

Services & Tools

ACS Resources

ACS is the leading employment source for recruiting scientific professionals. ACS Careers and C&EN Classifieds provide employers direct access to scientific talent both in print and online. Jobseekers | Employers

» Join ACS

Join more than 161,000 professionals in the chemical sciences world-wide, as a member of the American Chemical Society.
» Join Now!