Gevo Inc. announced on September 23 that it had entered into an asset purchase agreement to acquire certain patents from Butamax Advanced Biofuels LLC and its subsidiary Danisco US Inc. Less than a week later, the company announced that it had obtained a new patent. for a process for upgrading bio-based alcohols into alternative fuels.
The asset purchase agreement with Butamax and Dansico, dated September 21, leaves Gevo as the only entity with full rights to sublicense the entire Gevo / Butmax patent portfolio on isobutnaol and derivatives of isobutanol in the fields of fuels, isooctane, industrial chemicals, isobutylene, oligomerized isobutylene and paraxylene, according to Gevo.
A statement released by Gevo explains that the asset purchase agreement gives Gevo direct ownership and management of the entire known isobutanol patent portfolio of Butamax.
The two companies entered into a patent cross-license agreement in August 2015, ending a patent litigation that had been ongoing for several years. The new asset purchase agreement ends the 2015 cross-license agreement in many ways.
“Gevo is capitalizing on IBA related technologies,” said Chris Ryan, President and COO of Gevo. “We are seeing strong commercial demand for our products. So it just makes sense that we own the patent. In addition, it gives us more flexibility in adding to the combined patent portfolio and eliminates the licensing complexity that existed under the patent cross-licensing agreement.
Less than a week later, on September 27, Gevo announced that it had received a patent from the United States Patent and Trademark Office for a process that encompasses the transformation of ethanol and bio-based alcohols into bio-based diesel products and jet fuels. .
“We have been working on the conversion of alcohols to hydrocarbons for many years,” said Patrick Gruber, CEO of Gevo. “Ethanol, when produced using renewable energy in combination with other sustainable practices, could be a good feedstock. The technology in this patent is different from what others have done in that it provides high yields of quality diesel fuel and can also produce SAF if we wish. We believe in the “net-zero” approach. We need to consider carbon and associated emissions throughout the trading system. We need to pay attention to the renewable carbon source and the energy involved in making petroleum products. But that alone is not enough. We also need to pay attention to other key sustainability attributes of the trading system, such as agricultural practices, land use, protein production, water and everything in between. From our work on Net-Zero 1, we have a strong belief that net-zero hydrocarbons are possible and commercially viable. We need to work to further decarbonize ethanol.