Gevo and LG Chem Extend Bio-Propylene Agreement

Gevo and LG Chem, leading global chemical companies committed to producing sustainable products, are extending their joint development agreement. The agreement extension enables LG Chem to evaluate existing assets for deployment of Gevo’s ethanol-to-olefins (ETO) technology while accelerating commercialization activities, taking into account project scale and end-product markets.

"Gevo's collaboration with LG Chem is an excellent example of how we intend to accelerate the development and commercialization of our patented ETO technology to enable renewable chemicals with our world-class partners," said Dr. Paul Bloom, Gevo’s Chief Carbon and Innovation Officer. "Our ETO process has the potential to decarbonize a significant portion of the propylene market, and LG Chem is beginning commercial activities ahead of schedule, which is earlier than our initially planned timeline."

Gevo's patented ETO technology enables the development of carbon-neutral or carbon-negative drop-in replacements for traditional petroleum-based basestocks. These are core olefins that can be used in renewable fuels and chemicals, including sustainable aviation fuels and bio-propylene. ETO technology is just one of several patented technologies Gevo is using to address the challenge of developing cost-effective bio-based renewable fuels and chemicals.

"LG Chem is committed to expanding pathways to produce sustainable products, and leveraging partnerships is an effective way to gain know-how and share our technologies," said Dong-hyun Cho, Vice President and Head of Petrochemicals R&D at LG Chem. "Our joint development agreement with Gevo has helped LG Chem develop a sustainable and environmentally friendly future business strategy."