Gevo Jumps on Lufthansa Deal to Test Renewable Jet Fuel
Gevo rose 36 percent to $1.18 at the close in New York, the most since shares began trading in February 2011.
Lufthansa, Europe’s second-largest airline, will test Gevo’s isobutanol-derived jet fuel for commercial aviation, Englewood, Colorado-based Gevo said today in a statement. The testing is being supported through work with the European Commission.
Gevo uses corn and plant waste to make isobutanol, a compound that may be blended with gasoline or converted into hydrocarbon fuels and chemicals.
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