The JDA is structured around three phases of joint work designed to establish a bankable project. Phase 1 will develop the feasibility of a potential facility, followed by phases investigating the commercial development and commercialization of the project. Gevo and Leaf will carry their own costs during this phase of the project, with further funding to be determined after completion of the phase 1 milestones.
Dr. Patrick Gruber, Chief Executive Officer at Gevo, said, “We have already been supplying renewable jet fuel to Virgin Australia and see the potential demand in Australia and more broadly in Asia. Having a partner like Leaf in the region will help drive our strategy forward with access to sugars as feedstock and chemical and fuel markets in a rapidly growing economic region,”
Alex Baker, CEO of Leaf Resources, added, “The synergies between what Gevo is delivering in the market, and what we’ve developed with Leaf’s technology, is clear to see. Subject to the necessary R&D under this project, we see real potential to work with Gevo in the delivery of renewable alternatives to petroleum-based products, where we only expect demand to significantly increase over time.”
