Gevo, Inc. : Gevo Wins Patent Suit in Delaware Court
Butamax admits Gevo does not infringe and trial not needed
ENGLEWOOD, Colo. - March 21, 2013 - Gevo, Inc. (NASDAQ: GEVO), announced today
that a judgment of non-infringement will be entered for Gevo following the
acknowledgment by Butamax Advanced Biofuels LLC (Butamax) that Gevo does not
infringe Butamax's asserted patents under the Court's construction of a key
claim term in Butamax's Patent Nos. 7,851,188 and 7,993,889. As a result of
this victory, a judgment of non-infringement will be entered in Gevo's favor
and the trial scheduled for April 1^st will no longer take place.
"This is an outstanding victory for Gevo," noted Brett Lund, EVP and General
Counsel for Gevo. "We have consistently maintained that we do not infringe
any Butamax patents and Butamax's concession resoundingly validates our
The judgment of non-infringement comes on the heels of the Court's important
claim construction determination which held that Butamax's Patent Nos.
7,851,188 and 7,993,889 require the use of an "NADPH-dependent" KARI. Butamax
conceded that it could not establish that Gevo's KARI is NADPH-dependent.
"Gevo continues to demonstrate that it does not infringe Butamax's patents
because Gevo created an NADH-dependent KARI enzyme that enables Gevo's yeast
strains to produce isobutanol at much greater efficiencies than strains using
the NADPH-dependent enzymes claimed by Butamax," said Lund. "We fully expect
Butamax will appeal to the Federal Circuit, but we are confident in the merits
of our case."
In addition to granting a judgment of non-infringement, the Court invalidated
Butamax's patent claims for the deletion of PDC. PDC is the enzyme
responsible for making ethanol and its deletion is required for the
commercially viable production of isobutanol. Gevo's patents covering the
deletion of PDC and the use of AFT are set for trial in August of this year,
where Gevo is suing Butamax for patent infringement.
Gevo will host a conference call on Thursday, Mar. 21, 2013 at 11:30 a.m. EDT
(9:30 a.m. MDT) to discuss this significant win.
To participate in the conference call, please dial 1-866-825-1709 (inside the
US) or 1- 617-213-8060 (outside the US) and reference the access code
89618382. The presentation will be available via a live webcast at:
A replay of the call will be available two hours after the conference call
ends on Oct. 30, 2012 until Midnight EST on Nov. 30, 2012. To access the
replay, please dial 1-888-286-8010 (inside the US) or 1-617-801-6888 (outside
the US) and reference the access code 81289891. The archived webcast will be
available for 30 days in the Investor Relations section of Gevo's website at
Gevo is a leading renewable chemicals and next-generation biofuels company.
Gevo's patent-protected, capital-light business model converts existing
ethanol plants into biorefineries to make isobutanol. This versatile chemical
can be directly integrated into existing chemical and fuel products to deliver
environmental and economic benefits. Gevo started up its first commercial
isobutanol facility in Luverne, Minn., and has a marquee list of partners
including Coca-Cola, Sasol, and LANXESS, 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 more information, visit www.gevo.com.
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 include statements that are not
purely statements of historical fact, and can sometimes be identified by our
use of terms such as "intend," "expect," "plan," "estimate," "future,"
"strive" and similar words. 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 the company undertakes no obligation to update or revise these statements,
whether as a result of new information, future events or otherwise. Although
the company 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, 2011,
as amended, and in subsequent reports on Forms 10-Q and 8-K and other filings
made with the SEC by Gevo.
Gibbs & Soell for Gevo
T: (212) 697-2600
PR & Marketing Coordinator
T: (303) 588-6306
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Gevo, Inc. via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.