Frankfurt a.M., Germany, June 21st 2017 – HCS Group GmbH (HCS), a leading international supplier of solutions for high-value hydrocarbon specialties, announced that it has signed a five-year off-take agreement on renewable isooctane with Gevo Inc., Minnesota, USA. “We are very pleased to partner with Gevo to further develop the next-generation biofuels and bio-based chemical products market”, says Dr. Uwe Nickel, Chief Executive Officer of HCS Group. The specialty chemical company uses isooctane in a variety of fuel and solvent applications.
Product development based on renewable raw materials
Over the past years, HCS has started to develop and market a portfolio of sustainable technologies. The so-called “ECO Base” products offer superior physical and chemical properties for various applications, excellent biodegradability and a lower carbon footprint.
“Sustainability is a key element of our business strategy. With Gevo we have found the ideal partner to further expand our advanced ecologically sound portfolio for our customers”, says Henrik Krüpper, Chief Commercial Officer of HCS Group. Being the first contractual long-term customer of Gevo’s sustainable technology demonstrates the strong commitment of HCS to invest in viable and future-oriented concepts. “We are convinced about the maturity and competitiveness of Gevo’s technology”, says Krüpper and adds: “As our relationship with Gevo builds, we look forward to marketing other bio-based materials.”
The supply agreement with Gevo consists of two phases. In the first one, commencing May 2017, HCS will purchase isooctane produced at Gevo’s demonstration hydrocarbon plant located in Silsbee, Texas, USA. In the second phase, HCS agreed to purchase a large volume of isooctane per year from Gevo’s first commercial hydrocarbon facility, which is expected to be built at Gevo’s existing isobutanol production facility located in Luverne, Minnesota, USA.
“We are thrilled to join forces with Haltermann Carless, which is world renowned in the industry for the high quality of its hydrocarbon products,” said Dr. Patrick Gruber, Gevo’s Chief Executive Officer. “By combining technical know-how and new renewable technologies, we start a very promising partnership in developing and implementing next-generation biofuels and bio-based chemical products.”
About HCS Group
The HCS Group is a leading international supplier of solutions for high-value hydrocarbon specialties. The Group includes the brands Haltermann Carless, ETS Racing Fuels and EOS. The HCS Group has about 500 employees and is headquartered in Frankfurt am Main, Germany. The company belongs to H.I.G. Europe, a subsidiary of the US private equity company, H.I.G. Capital.
For further details please visit www.h-c-s-group.com
Gevo is a 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’s strategy is to commercialize bio-based alternatives to petroleum-based products to allow for the optimization of fermentation facilities’ assets, with the ultimate goal of maximizing cash flows from the operation of those assets. Gevo produces isobutanol, ethanol and high-value animal feed at its fermentation plant in Luverne, Minnesota. Gevo has also developed technology to produce hydrocarbon products from renewable alcohols. Gevo currently operates a biorefinery in Silsbee, Texas, in collaboration with South Hampton Resources Inc., to produce renewable jet fuel, octane, and ingredients for plastics like polyester. Gevo has a marquee list of partners including The Coca-Cola Company, Toray Industries Inc. and Total SA, among others. Gevo is committed to a sustainable bio-based economy that meets society’s needs for plentiful food and clean air and water.
For further details please visit www.gevo.com
HCS Group GmbH
60549 Frankfurt am Main, Germany
Phone: + 49 69 695 386-0
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