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M&I Electric (NASDAQ: $AETI) announces $3M+ project for new offshore drilling rig power system
HOUSTON - June 20, 2018 (Investorideas.com Newswire) American Electric Technologies, Inc. (NASDAQ:AETI), a leading provider of power delivery solutions for the global energy industry, announced today that its M&I Electric business has been awarded a $3M contract to provide a power delivery solution for a new North America-deployed offshore drilling platform.

Major Turnaround in Crude Oil's Price
June 19, 2018 (Investorideas.com Newswire) Crude oil's Friday's huge daily decline was not followed by yet another daily slide, but by a profound reversal.

The Fed Is Driving Down Oil Prices
June 19, 2018 (Investorideas.com Newswire) The U.S. dollar has jumped to its strongest level in nearly a year, raising questions about how a strong greenback could act as a drag on debt and oil demand in much of the world.

Target Price Raised on 'One of Our Favorite Small-Cap Montney Names'
June 18, 2018 (Investorideas.com Newswire) Analyst Garett Ursu with Cormark Securities compared the current numbers to past ones and explained why this energy company still has upside.

Coverage Initiated on 'Premier, Niche, North American Completions Player'
June 15, 2018 (Investorideas.com Newswire) A Raymond James report explained why this energy/oil field services company makes a compelling investment.

Can Saudi Arabia Prevent The Next #Oil Shock?
June 14, 2018 (Investorideas.com Newswire) The ongoing speculation online about the future of cooperation between Russia and OPEC seems to be a little one-sided.

@EnterpriseGrp (TSX: $E.TO) Enterprise Group #Acquisition Strategy
June 14, 2018 (Investorideas.com Newswire) Energy and infrastructure commentary on Enterprise Group, Inc. (TSX: E). If one had purchased shares in Enterprise Group (E: TSX) on or prior to the first stock market trading day in 2018 (as you have/had been told multiple times for months), you would have beaten virtually every global index.

#Energy and #Infrastructure Stock (TSX: $E.TO) Enterprise Group Doubled YTD; Hunting for Accretive Acquisitions
June 13, 2018 (Investorideas.com Newswire) The following article/commentary is released on Enterprise Group, Inc. (TSX: E). If one had purchased shares in Enterprise Group (E: TSX) on or prior to the first stock market trading day in 2018 (as you have/had been told multiple times for months), you would have beaten virtually every global index.

Assets Sale 'Creates a Financially Stronger, More Focused' Oil/Gas E&P
June 8, 2018 (Investorideas.com Newswire) An Eight Capital report reviewed the details of this company's divesting deal.

Craft Oil Explorer Updates Plans for Oklahoma Wells
June 8, 2018 (Investorideas.com Newswire) Prospects for this craft oil company focused on small plays in domestic oil fields are discussed in this interview with Maurice Jackson of Proven and Probable.

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Oil and Gas News from Globe Newswire

TransAtlantic Petroleum Announces Final Results of Voting at 2018 Annual Meeting of Shareholders

HAMILTON, Bermuda, June 21, 2018 (GLOBE NEWSWIRE) -- TransAtlantic Petroleum Ltd. (TSX:TNP) (NYSE American:TAT) (the “Company” or “TransAtlantic”) today announced the final results of the voting at its 2018 Annual Meeting of Shareholders (“Annual Meeting”), which was held on June 19, 2018.

Annual Meeting Final Voting Results

The Company held its Annual Meeting on June 19, 2018 to (i) elect six directors to the board of directors, each for a one-year term (“Proposal 1”), and (ii) appoint PMB Helin Donovan, LLP (“PMB”) to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2018 (“Proposal 2”). For more information about the foregoing proposals, see the Company’s definitive proxy statement, filed with the Securities and Exchange Commission (the “SEC”) on April 30, 2018 (the “Proxy Statement”), and the Company’s definitive additional materials, filed with the SEC on June 13, 2018 (the “Additional Proxy Materials”).

The table below show the final results of the voting at the Annual Meeting:

     For  Against  Abstain  Broker
Non-Votes
Proposal 1              
N. Malone Mitchell 3rd    21,421,174  370,039  32,471  12,408,241
Bob G. Alexander    21,375,464  389,931  58,289  12,408,241
Brian E. Bailey    21,377,443  387,952  58,289  12,408,241
Charles J. Campise    21,376,188  387,942  59,554  12,408,241
Gregory K. Renwick    21,281,418  483,977  58,289  12,408,241
Mel G. Riggs    20,216,677  1,548,353  58,654  12,408,241
               
               
     For  Against  Abstain  Broker
Non-Votes
Proposal 2    33,764,273  392,149  75,503  0
 

As described in the Additional Proxy Materials, on June 12, 2018, PMB notified the Company that, because of reasons unrelated to the Company, PMB decided that it will no longer provide audit services to public companies, including the Company, and will no longer seek re-appointment as the Company’s independent registered public accounting firm for the year ending December 31, 2018. As a result of this notification, Proposal 2 became moot. The audit committee of the board of directors (the “Audit Committee”) is currently in the process of selecting a replacement independent registered accounting firm for the year ending December 31, 2018. The Audit Committee is working to appoint a new independent registered accounting firm as soon as possible.

Audio Recording of Annual Meeting

An audio recording of the Annual Meeting has been uploaded and is available on the Company’s website at www.transatlanticpetroleum.com. To access the audio recording, click on “Investors”, select “Events and Presentations”, and click on “Listen” under the event listing.

About TransAtlantic

The Company is an international oil and natural gas company engaged in the acquisition, exploration, development, and production of oil and natural gas. The Company holds interests in developed and undeveloped properties in Turkey and Bulgaria.

(NO STOCK EXCHANGE, SECURITIES COMMISSION, OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.)

Forward-Looking Statements

This news release contains statements concerning the appointment of a new independent registered accounting firm as well as other expectations, plans, goals, objectives, assumptions, and information about future events, conditions, results of operations, and performance that may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect.

Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates, and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by the Company and described in the forward-looking statements or information. These risks and uncertainties include, but are not limited to, access to sufficient capital; market prices for natural gas, natural gas liquids, and oil products; estimates of reserves and economic assumptions; the ability to produce and transport natural gas, natural gas liquids, and oil products; the results of exploration and development drilling and related activities; economic conditions in the countries and provinces in which the Company carries on business, especially economic slowdowns; actions by governmental authorities; receipt of required approvals; increases in taxes; legislative and regulatory initiatives relating to fracture stimulation activities; changes in environmental and other regulations; renegotiations of contracts; political uncertainty, including actions by insurgent groups or other conflict; outcomes of litigation; the negotiation and closing of material contracts; and other risks described in the Company’s filings with the SEC.

The forward-looking statements or information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events, or otherwise, unless so required by applicable securities laws.

Contacts:                                                

Chad D. Burkhardt
Vice President, General Counsel and Corporate Secretary
(214) 265-4705

TransAtlantic Petroleum Ltd.
16803 Dallas Parkway
Addison, Texas 75001
http://www.transatlanticpetroleum.com 

McPhy Energy : Ferguson Marine to develop World-first Renewables-Powered Hydrogen Ferry - HySeas III

                                              

HySeas III
Media Release Monday 18 June 2018

Ferguson Marine to develop World-first Renewables-Powered Hydrogen Ferry - HySeas III

At Today's Smart Shipping Symposium hosted by the City of Glasgow College Faculty of Nautical Studies, Jim McColl OBE, Chairman and Chief Executive of Clyde Blowers Capital announced that Port Glasgow-based Ferguson Marine Engineering Limited has successfully led a European consortium in a bid for EU funding support to pave the way for the building and launch of the world's first sea-going car and passenger ferry fuelled by Hydrogen.

The supported development is expected to cost around €12.6 million of which €9.3million has been awarded by the European Union's Horizon 2020 research and innovation fund.

The vessel's fuel will be produced from renewable electricity marking a paradigm shift towards entirely emissions-free marine transport.

HySeas III, jointly led by shipyard, Ferguson Marine and the University of St Andrews, includes Orkney Islands Council; Kongsberg Maritime (Norway); Ballard Power Systems Europe (Denmark); McPhy (France); DLR - German Aerospace Center; and Interferry (Belgium/US) the global trade association for ferry operators and suppliers.

Employing Ballard technology, already proven across millions of miles of road transport, the initial objective is to construct and prove the vessel's modular drive train onshore, testing for stress and durability under conditions employing real-world data from existing vessels.

Orkney

The successful test will allow a vessel to be constructed, in the already assured knowledge that such a vessel can operate safely and efficiently around Scotland's challenging coast. The vessel is planned to operate in and around Orkney - which is already producing hydrogen in volume from constrained - and hence otherwise wasted - renewable energy.

Chief Naval Architect Chris Dunn of Ferguson Marine said, "Over recent years Ferguson Marine has been at the global forefront of green marine propulsion technology development.  This exciting project is yet another positive step on that journey and puts us firmly on track to deliver the world's first zero emission, hydrogen fuel cell powered commercial ROPAX ferry in 2020."

Ferguson Marine Chief Executive, Gerry Marshall, added "We now have one of the most innovative and competitive shipyards in Europe which is capable of delivering ground-breaking projects for Inverclyde, Scotland and beyond. HySeas III is a living example of how it can be possible to lead the world in marine technology."

Project Coordinator, Dr. Martin Smith from the University of St. Andrews said, "This is a very exciting stage to be at now. This opens the real possibility of Scotland and her key European partners delivering another world-first not simply in ship-building but also in building sustainable local sources of fuelling in parallel." 

Jim McColl OBE, whose Clyde Blowers Capital now owns the once-threatened shipyard, commented, "Ferguson's was the last full-service commercial shipyard on in the River Clyde. Since taking over in 2014, we have invested £25 million to bring the yard up to the world-class standards with a new, skilled workforce, that has provided the confidence in leading this hugely important, ground-breaking project."

Innovative partnership

Previously in 2012, Ferguson's launched the MV Hallaig, the world's first ever battery hybrid ferry. The redeveloped yard achieved another first in November 2017 when it launched the MV Glen Sannox, the first UK ferry build with dual-fuel capability (marine diesel & LNG). The Glen Sannox' sister vessel is currently under construction at the shipyard.

The University of St Andrews, the 3rd Oldest University in the English-speaking world, is home to world-class research and development in hydrogen, battery and other energy technologies. A key part of the development aspect is the transferal of knowledge and expertise into real-world applications - not least in stretching the boundaries of what has previously been thought of and achieved.

Dr. Smith from The University, along with Jim Anderson at CMAL (Caledonian Maritime Assets Limited) initiated the HySeas programme in 2012. Support from Scottish Enterprise allowed the idea to be taken from an early feasibility study to the point where the focus can now shift into test and delivery.

Dr. Smith previously played a leading role in the introduction of hydrogen buses into Scotland, a development which is now set to move beyond Aberdeen with Dundee currently following and other Scottish cities considering fleets of their own. 

European Backing

Support will be provided by Horizon 2020, the EU's largest ever Research and Innovation programme to date with a budget of c.€80 billion over 7 years (2014 to 2020).

The HySeas III project formally begins on the 1st of July.

                  

HySeas III Consortium Members

Ferguson Marine Engineering Limited        www.fergusonmarine.com

University of St Andrews                              https://www.st-andrews.ac.uk

Ballard Power Systems Europe A/S was founded in January 2007 and is recognized as one of the leading players in the commercial application of heavy duty fuel cell solutions. Headquartered in Hobro (Denmark), our activities are focused on these business areas: Backup Power for critical infrastructure; Heavy Duty Motive application for Zero Emission Transport; and Fuel cell Bus Service in Europe.

Ballard Power Systems Europe employs 50 highly skilled people and has modern production facilities. The company is owned 100% by Ballard Power Systems Inc. in Canada - the world leading provider of low temperature PEM fuel cells. For motive and marine customers Ballard offers flexible, scalable solutions for a wide range of motive application duty cycles and power requirements.

"We are ready to support the de-carbonization of ships with true zero emission power solutions!"

Kristina Fløche Juelsgaard,                                                                                   Business Development Director, Ballard Power Systems Europe                 www.ballard.com

Kongsberg Maritime AS, Norway delivers systems for dynamic positioning and navigation, marine automation, handling systems, safety management, cargo handling, subsea survey and construction, maritime training, satellite positioning, and autonomous solutions. Our systems enhance efficiency and safety throughout the whole maritime technology spectrum and we offer additional competence in providing turnkey engineering services within the shipbuilding and floating production sectors.

Kongsberg Maritime is a wholly owned subsidiary of Kongsberg Gruppen (KONGSBERG). KONGSBERG is an international technology corporation that delivers advanced and reliable solutions that improve safety, security and performance in complex operations and during extreme conditions. The Group is a customer focused organization with a worldwide performance culture. KONGSBERG works with demanding customers in the global defense, maritime, oil and gas and aerospace industries.

"We are excited to contribute realizing the world's first sea-going hydrogen-powered RoPax ferry."

Morten Stanger                                                                                                             Vice President Merchant Marine Sales, Kongsberg Maritime AS  www.km.kongsberg.com

Orkney Isles Council/Orkney Ferries, with its reputation for innovation in renewable energy and low carbon projects, is delighted to have been chosen as the location for the HYSEAS III hydrogen ferry opportunity.

The perfect ferry route for trials; the proven ability to produce hydrogen from wind and tidal energy; expertise in small RoRo ferry operations; and hosting the renewable energy organisations which have already chosen Orkney as a place to work, all combine to make Orkney with its people the ideal place to turn this project from an 'idea' to operational ferry.

"I am delighted that this exciting project has chosen Orkney as the place to test and, hopefully, operate the worlds first Hydrogen RoRo ferry. We very much look forward to working with our partners from across Europe and, in time, the Scottish Government, as we move from concept to an operational ferry over the next few years".  

Councillor Graham Sinclair,                                                                                        Chair of the Development and Infrastructure Committee. Orkney islands Council http://www.orkney.gov.uk

The DLR Institute of Networked Energy Systems Oldenburg, Germany develops technologies and concepts for future energy supply based on renewable energy sources.

The Institute's three departments - Urban and Residential Technologies, Energy Systems Technology and Energy Systems Analysis - work on system-related issues for intelligent and efficient linking of the electricity, heating and transport sectors. Systems of all sizes and levels are being investigated, ranging from individual installations and "smart" buildings to networked residential districts and cities. The Institute also evaluates energy systems at national and international levels, using its own network structure models and technology assessment methods. The technology assessment group identifies the potentials and recommended actions through the economic, ecological and sociological assessment of energy technologies and systems.

"Marine transportation is a part of the energy system which still needs to be decarbonised. Our assessments support the transition of this sector in a sustainable direction by techno-economic and ecological as well as market potential assessments of fuel cell powered ferries. Therefore the complete process chain will be analysed including the production of hydrogen on the basis of grid-connected renewable power sources."          

Dr. Thomas Vogt,                                                                                                                    Head of Department, DLR Institute of Networked Energy Systems                      https://www.dlr.de

McPhy contributes to the deployment of clean hydrogen throughout the world, in the framework of the energy transition, and as a leading supplier of hydrogen production, storage and distribution equipment, Thanks to its wide innovative and competitive range dedicated to the hydrogen energy, zero emission mobility and industrial hydrogen markets, McPhy provides turnkey solutions to its Clients. These solutions are tailored to our Client applications: renewable energy surplus storage and valorization, fuel cell car refueling, raw material for industrial sites.

As a designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production units based in Europe (France, Italy, Germany). The company's international subsidiaries ensure a global sales coverage of McPhy's innovative hydrogen solutions.

"Hydrogen is simply unavoidable if we are to succeed in the energy transition for a better, cleaner and safer future. By land, rail, air or by sea, hydrogen shows itself an efficient, reliable and competitive energy.

This is what we aim to demonstrate during this specification phase, and we're proud to bring our expertise and our "Augmented" electrolyzers and hydrogen stations - for boats, but also in the future for hydrogen trains or buses - to contribute, alongside the HySeas consortium, to design the project's landside infrastructure.

We are delighted to be part of this unique project which opens up the future of decarbonized sea freight."

Pascal Mauberger,                                                                                                Chairman and CEO, McPhy                                                               https://mcphy.com

Interferry has a membership of more than 230 operators and suppliers in 37 countries, and is the only trade association representing the worldwide ferry industry.  Interferry represents the industry on regulatory issues and facilitates networking and information exchange on key developments - not least regarding eco-friendly alternative fuels.  The association's main role in HySeas III will be to communicate progress industry-wide via its website, internal news bulletins, social media and cooperation on media relations.

"The potential for hydrogen as a ferry fuel will feature at our 43rd annual conference in Cancun, Mexico, this October, which underlines our support for this important project.  It's a very timely collaboration, given that the International Maritime Organization reached an accord in April requiring a 50% reduction in maritime CO2 emissions by 2050.  Hydrogen raises the extremely interesting possibility of a long-range, CO2-free option."

Johan Roos                                                                                                                 Regulatory Affairs Director,  Interferry                            http://www.interferry.com

HySeas III support

Scottish Enterprise/Scotland Europa

"The HYSEAS project has put Scotland in a world leading position regarding the development of sustainable marine transport and will play a vital role in supporting the ambitions of the Scottish Government to enable our transition to a low carbon economy. 

"Scottish Enterprise is pleased to have been able to support the HYSEAS consortium all the way through its development, from initial feasibility to successfully bidding for this Horizon 2020 funding from the European Union. 

"We look forward to continuing to support the HYSEAS partners in working towards the launch of a first renewable energy powered ferry, which we believe will lead to substantial new manufacturing opportunities and export growth potential for Scottish companies".

Andy McDonald                                                                                                                                             Sector Director Energy & Low Carbon Technologies, Scottish Enterprise: https://www.scottish-enterprise.com

Attachment

GLOBAL BIOENERGIES :Major progress for the ISOPROD programme

Major progress for the ISOPROD programme

Completion of the first key step of the joint Global Bioenergies, IBN-One,
Cristal Union and L'Oréal project

Performance levels achieved that will allow high value-added markets to be exploited

€1 million payment from ADEME received by Global Bioenergies - forecasted cash position expected to exceed €11 million at the start of the next half-year

Evry (France), 21 June 2018 - Global Bioenergies (Euronext Growth Paris: ALGBE) announced that it had today received a payment of €1 million from ADEME, which operates the Investissements d'Avenir programme on behalf of the French government. This payment follows improvements in the process's performance levels and the completion of a key step.

The ISOPROD project has the following objectives:

-              the adaptation of the Isobutene process to sugar refinery residues;

-              the engineering for the first plant carried by IBN-One, the joint venture between
                Global Bioenergies and Cristal Union; and

-              the validation of bio-isobutene derivatives in the fuel and cosmetics sector.

Bernard Chaud, Director of Industrial Strategy at Global Bioenergies, stated: "The process has achieved a level of performance that from now on would allow its exploitation in a full-scale plant to be competitive in a number of high value-added markets, such as cosmetics."

Xavier Astolfi, Deputy CEO of Cristal Union explained: "Global Bioenergies' process allows biofuels and biosourced materials to be produced in a more virtuous way, that is to say by using local resources in accordance with methods complying with European biofuels regulations and by having an excellent environmental benefit".

Marc Delcourt, CEO of Global Bioenergies, concluded by saying: "The completion of this key step is a reflection on the major progresses recently achieved in adapting our Isobutene process to sugar refinery residues. This payment from ADEME adds to the grant prepayment of the four new European projects recently announced. Recovering the government R&D tax credit on the short term will bring our (unaudited) cash position to more than €11 million".

About GLOBAL BIOENERGIES

Global Bioenergies is one of the few companies worldwide, and the only one in Europe, that is developing a process to convert renewable resources into hydrocarbons through fermentation. The Company initially focused its efforts on the production of isobutene, one of the most important petrochemical building blocks that can be converted into fuels, plastics, organic glass and elastomers. Global Bioenergies continues to improve the performance of its process, to operate its demo plant in Germany, and to prepare the first full-scale plant through a joint venture with Cristal Union, named IBN-One. Global Bioenergies is listed on Euronext Growth Paris (FR0011052257 - ALGBE)

Stay informed! Subscribe to our newsfeed on
www.global-bioenergies.com

Follow us on Twitter: @GlobalBioenergi

Contact

GLOBAL BIOENERGIES
Jean-Baptiste barbaroux
Chief Corporate Officer
Tel: +33 1 64 98 20 50
invest@global-bioenergies.com

 
  

Attachment

FLNG Hilli Episeyo - Closing of Post Acceptance Debt Financing

FLNG Hilli Episeyo - Closing of Post Acceptance Debt Financing

Golar LNG Limited ("Golar" or "The Company") announces today that following the June 4th announcement of commercial acceptance of Hilli Episeyo, the Company has repaid the $640 million drawn under the $700 million construction financing facility and drawn down on the post acceptance $960 million lease financing facility provided by CSSC Leasing. After the closing therefore an additional $320 million of liquidity has been received by Golar.

The net increase in liquidity to Golar after settling remaining Hilli Episeyo capital commitments as well as amounts due to minority (10.89%) shareholders Keppel and Black and Veatch as a result of the debt draw down, is expected to be approximately $200 million. This is based upon the expectation that a significant amount of the contingency fund will not be required.

The drop down of 50% of the base tolling income to Golar LNG Partners L.P. is expected to be concluded shortly. The additional added contribution of approximately $82 million in effective EBITDA* and effective EBITDA  backlog of $650million, given the 8 year contract term, will significantly strengthening the MLP's financial position and supporting the distribution going forward.

Golar CEO Iain Ross commented: "We are delighted to have closed this financing and with the support and good relationship we have with CSSC leasing. With the announcement in April of the closing of the Sergipe financing we are now in a position that all our major capital commitments are fully funded, with the only exception being the FSRU Nanook which has a 25 year charter and on which financing discussions are well advanced. In addition to being fully funded the Company's liquidity is also significantly improved."

*EBITDA: earnings before interest, tax, depreciation and amortization; is a non GAAP measure and is defined as being equivalent to revenues less operating expenses for the purposes of this press release. Golar LNG Partners does not expect to initially consolidate Golar Hilli LLC or Hilli Corp and so will reflect its share of net income on its income statement as "equity in net earnings of affiliates."

FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements concerning future events and Golar's operations, performance and financial condition. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words "believe", "anticipate", "expect", "estimate", "project", "will be", "will continue", "will likely result", "plan", "intend" or words or phrases of similar meanings. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond Golar's control. Actual results may differ materially from those expressed or implied by such forward-looking statements.  Important factors that could cause actual results to differ materially include, but are not limited to, those factors listed from time to time in the reports and other documents Golar files with the United States Securities and Exchange Commission.  

New factors emerge from time to time, and it is not possible for Golar to predict all of these factors. Further, Golar cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. Golar does not intend to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Golar's expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.

Hamilton, Bermuda
June, 21 2018
Enquiries:
Golar Management Limited: + 44 207 063 7900
Stuart Buchanan

Gevo and Avfuel Enter into Renewable Jet Fuel Supply Agreement

First Long-Term Commercial Contract for Renewable Jet Fuel

ENGLEWOOD, Colo., June 21, 2018 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ:GEVO) announced today that it has entered into a long-term agreement to supply its renewable alcohol-to-jet fuel (ATJ) to Avfuel Corporation, effective July 1, 2018 (the “Supply Agreement”). Avfuel is a leading global supplier of aviation fuel and services to all industry consumer groups, servicing more than 3,000 locations worldwide. The Supply Agreement with Avfuel is Gevo’s first long-term commercial supply agreement for its ATJ.

“We are pleased to have a customer and partner like Avfuel. Avfuel has tremendous reach with more than 650 Avfuel-branded locations and 3,000-plus fueling locations worldwide to a vast scope of customers. We appreciate its vision and leadership in working with us to bring a better and more sustainable fuel to the market place. Not only can we reduce greenhouse gas emissions, but we also can produce a higher quality product than petroleum-based jet fuel from a technical standpoint. The whole supply chain should benefit, as well as the end customer. This contract with Avfuel is an excellent first step and will serve as a catalyst for Gevo to build up the aggregate demand so we can proceed with the development of a larger scale ATJ facility,” said Patrick Gruber, Gevo’s chief executive officer.

Craig Sincock, owner, president and CEO of Avfuel said, “As a leader in the global supply of aviation fuel and services, we have a social responsibility to make sustainable alternative jet fuel a reality in the marketplace. Our agreement with Gevo is a notable component in our overall strategy to support our industry’s commitment to reduce carbon emissions and enhance sustainability to mitigate its effect on climate change.”

Sincock remarked that the agreement with Gevo will help the company meet the demand of its customers for a low-carbon, alternative jet fuel, filling a gap in the industry’s supply chain. 

The Supply Agreement contemplates two phases. During the first phase, Gevo will supply Avfuel from its smaller-scale hydrocarbon processing facility it operates in Silsbee, Texas, in partnership with South Hampton Resources, Inc. (the “Silsbee Facility”).  Currently, the Silsbee Facility has the capacity to produce approximately 70,000 gallons of renewable hydrocarbon products per year (50% of which is ATJ and 50% of which is isooctane).

During the first phase, Gevo expects to construct a larger-scale hydrocarbon facility at its existing ethanol and isobutanol production facility located in Luverne, Minnesota, (the “Luverne Facility”) to produce larger quantities of ATJ (the “Luverne Hydrocarbon Facility”), subject to Gevo's receipt of sufficient financing. Upon completion of the Luverne Hydrocarbon Facility, the second phase of the Supply Agreement would commence, which would have a term of five years, subject to extension upon the mutual agreement of the parties. During the second phase, Gevo would supply Avfuel with larger volumes of ATJ, ramping up to 1,000,000 gallons of unblended ATJ per year, which, when blended with conventional jet fuel, would produce many millions of gallons of finished ASTM D1655 jet-fuel product for distribution per year.

With further regard to the environment, for every one million gallons of ATJ produced, approximately 20 million pounds of animal feed and protein would also be produced and sold into the food chain. To produce ATJ, Gevo fractionates grain to produce protein and animal feed while using the residual carbohydrate portion of the grain for fermentation to produce the intermediate chemical: isobutanol. The isobutanol is then chemically transformed using a hydrocarbon processing facility into ATJ meeting ASTM D7566 (standard specification for aviation turbine fuel containing synthesized hydrocarbons). The ATJ made by this process has very low sulfur, low particulates, and higher energy density than petro-based jet fuel. 

About Gevo

Gevo is a leading renewable technology, chemical products, and next generation biofuels company. Gevo has developed proprietary technology that uses a combination of synthetic biology, metabolic engineering, chemistry and chemical engineering to focus primarily on the production of isobutanol, as well as related products from renewable feedstocks. Gevo can produce isobutanol, ethanol and high-value animal feed at its production facility in Luverne, MN. Gevo has also developed technology to produce hydrocarbon products from renewable alcohols. Gevo currently operates a biorefinery in Silsbee, TX, in collaboration with South Hampton Resources Inc., to produce renewable jet fuel, octane, and ingredients for plastics like polyester. Gevo is committed to a sustainable bio-based economy that meets society’s needs for plentiful food and clean air and water. Learn more at our website:  www.gevo.com.

About Avfuel Corporation

Avfuel provides fuel and services to the global aviation industry and is the leading independent supplier in the United States. Established as a supply and logistics company 45 years ago, Avfuel is core competent in every aspect that surrounds the delivery of fuel—from refinery to wingtip. Avfuel combines global access with personalized service throughout a fueling network of more than 3,000 locations worldwide and 650+ Avfuel-branded FBOs. Our 100% dedication to aviation demonstrates our passion and commitment to a global community that prospers on the movement of goods and services around the world.

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, statements related to Gevo’s ability to perform its obligations under the Supply Agreement, whether the transactions contemplated by the Supply Agreement will be completed, Gevo’s plans and ability to construct the Luverne Hydrocarbon Facility, the demand for Gevo’s ATJ and renewable, low carbon jet fuel, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2017, as amended, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Investor and Media Contact
Shawn M. Severson
Integra Investor Relations
+1 415-226-7747
gevo@integra-ir.com

Avfuel Corporation Contact
Marci Ammerman
Vice President Marketing
734-663-6466
mammerman@avfuel.com
www.avfuel.com
facebook.com/avfuel
Twitter: @Avfuel 

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