Gevo (GEVO) and Axens said Wednesday they have formed a new alliance to boost the development and commercialization of sustainable aviation fuel using the ethanol-to-jet pathway.
The companies said they're also integrating their resources to accelerate commercialization of Gevo's ethanol-to-olefins technology. If the technology development is completed successfully, Gevo said it would lead deployment of the ETO technology in North America, while Axens would provide process licensing, catalyst, equipment, and engineering services globally.
Financial details weren't provided.
GEVO shares were over 2% higher in early trading.
Price: 1.80, Change: +0.04, Percent Change: +2.57
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