This story was originally published here.
Gevo (NASDAQ:GEVO) is up almost 35% in pre-market trading on Tuesday as America gets ready for pro-renewable energy President-elect Joe Biden to take office on Wednesday. Two Washington-related developments could be the reason why.
Among the advisors guiding the new White House policy will be Gevo co-founder and the first woman to be awarded the Nobel Prize in Chemistry, Frances Arnold, who was named co-chair of the President’s Council of Advisors on Science and Technology over the long weekend.
As well, on Jan. 15, the Department of Energy’s Office of Fossil Energy announced plans to make $160 million in federal funding available to help recalibrate the country’s broad fossil-fuel and power infrastructure for decarbonized energy and commodity production. That funding will be used to develop technologies for the production, transportation, storage and utilization of fossil-based hydrogen, with progress toward net-zero-carbon emissions.
Gevo develops bio-based alternatives to petroleum-based products via biotechnology and classical chemistry. The Colorado company converts renewable raw materials into isobutanol and renewable hydrocarbons that it says can be directly dropped into existing fuel and chemical products. It says that its three critical pieces of technology are key differentiators between it and other biofuel technology companies…
Story continues here.
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