Gevo, Inc. (GEVO) files 8-K in a filing on Tue, Aug 13 accessible here.
Item 1.01. Entry into a Material Definitive Agreement.
On August 7, 2019, Gevo, Inc. (the ‘Company’) entered into a Renewable ATJ Purchase and Sale Agreement (the ‘Agreement’) with Air Total International, S.A. (‘Air Total’), pursuant to which the Company agreed to supply renewable alcohol-to-jet fuel (‘ATJ’) to Air Total under a three-year offtake agreement, which may be extended for an additional four years upon mutual agreement by the parties. Air Total will initially purchase certain minimal quantities of ATJ produced at a demonstration hydrocarbons plant operated by the Company in partnership with South Hampton Resources, Inc. located in Silsbee, Texas. The Company expects to sell Air Total increasing amounts of ATJ upon the completion of two expansion projects to increase ATJ production capabilities at the Company’s biofuels production facility in Luverne, Minnesota. The first expansion project is referred to as the ‘Interim Project’ and the second, larger expansion project is referred to as the ‘Expansion Project.’ The Company will sell the ATJ under the Agreement at certain fixed prices over the term of the Agreement.
Either party may terminate the Agreement upon 30 days’ written notice if the Interim Project is not completed within two years of execution of the Agreement. The Agreement also contains customary representations, warranties, covenants and confidentiality provisions, and also contains mutual indemnification obligations.
The foregoing description of the Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of such Agreement, a copy of which is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated herein by reference.
Exhibit No. Description 10.1† Renewable ATJ Purchase and Sale Agreement, effective July 26, 2019, between Gevo, Inc. and Air Total International, S.A..
Renewable ATJ Purchase and Sale Agreement, effective July 26, 2019, between Gevo, Inc. and Air Total International, S.A..
† Certain portions of the exhibit have been omitted pursuant to Rule 601(b)(10) of Regulation S-K. The omitted information is (i) not material and (ii) would likely cause competitive harm to the Company if publicly disclosed.
Certain portions of the exhibit have been omitted pursuant to Rule 601(b)(10) of Regulation S-K. The omitted information is (i) not material and (ii) would likely cause competitive harm to the Company if publicly disclosed.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly …read more
Source:: Daily Times