Gevo Gains After Boosting Isobutanol Output in MinnesotaJustin Doom
Gevo Inc., the U.S. biofuel producer backed by French oil company Total SA, gained the most in three months after saying it was simultaneously producing isobutanol and ethanol at its Minnesota plant.
Gevo rose 13 percent to close at 70 cents in New York.
The Englewood, Colorado-based company began side-by-side production of the two compounds in June, making isobutanol in one of four fermenters at its plant in Luverne, Minnesota, Gevo said yesterday in a statement after regular trading closed.
Gevo uses corn and plant waste to make isobutanol, which may be blended with gasoline or converted into hydrocarbon fuels and chemicals. The company previously had sought to manufacture that compound exclusively.