Land O'Lakes Purina Feed, biofuels company Gevo sign joint development agreement to research upgrades to isobutanol distiller grains for applications in animal feed markets
May 1, 2012
– Gevo, Inc. (NASDAQ: GEVO - News), a leading renewable chemicals and next generation biofuels company, announced the continuation and expansion of its relationship with Land O’Lakes Purina Feed LLC, a wholly-owned subsidiary of Land O’Lakes, Inc., a national, farmer-owned and agricultural cooperative. The companies signed a Joint Development Agreement that follows an off-take and marketing agreement entered into in January 2012. The agreement contemplates the companies’ research and development efforts to upgrade isobutanol distiller grains (iDGsTM) for special value-added applications in animal feed markets.
Kevin Shriver, corporate vice president of Sourcing and Commodity Merchandising for Land O’Lakes Purina Feed, commented, “We want to position ourselves as ‘the’ marketer of iDGs™. Our relationship with Gevo, their technological advancements and scientific acumen provide a unique opportunity to integrate sustainable raw materials into our products while positively improving the quality of our animal feed and bringing better products to our consumers.”
“Land O’Lakes Purina Feed’s willingness to help develop products formulated with Gevo iDGs™ provides validation of the potential opportunities and applications of our high-protein animal feed,” said Dr. Patrick Gruber, CEO of Gevo. “Our animal feed presents a unique opportunity for Land O’Lakes Purina Feed to develop new products with enhanced protein benefits. Land O’Lakes Purina Feed has consistently led the animal feed industry towards higher quality products, coupled with its scale and consumer reach, this agreement creates a wonderful opportunity for our Luverne operations,” said Gruber.
Gevo also announced today that it has acquired a patent portfolio developed by AmbroZea, Inc., including U.S. Patent No. 7,309,602 entitled, “Compositions and Methods for Producing Fermentation Products and Residuals.” The acquired technology covers compositions and methods designed to increase the value of animal feed. Working in conjunction with Land O’ Lakes Purina Feed, Gevo believes this technology could further enhance the value of its iDGs™ in the animal feed market.
Land O’Lakes Purina Feed has a history with AmbroZea having committed meaningful resources to AmbroZea’s R&D efforts to improve the nutritional value of ethanol distiller grains in ethanol plants several years ago. Gevo’s recent purchase augments its ongoing initiatives to use bio-engineered yeast to produce enhanced iDGs™ including high-value amino acids and other nutrients. This technology compliments Gevo’s existing intellectual property portfolio of more than 300 patents and applications.
Gevo is converting existing ethanol plants into biorefineries to make renewable building block products for the chemical and fuel industries. The Company plans to convert renewable raw materials into isobutanol and renewable hydrocarbons that can be directly integrated on a “drop in” basis into existing chemical and fuel products to deliver environmental and economic benefits. Gevo is committed to a sustainable biobased economy that meets society’s needs for plentiful food and clean air and water.
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