{"id":155688,"date":"2025-01-02T07:39:00","date_gmt":"2025-01-02T06:39:00","guid":{"rendered":"https:\/\/renewable-carbon.eu\/news\/?p=155688"},"modified":"2024-12-18T12:26:34","modified_gmt":"2024-12-18T11:26:34","slug":"gevo-and-lg-chem-extend-joint-development-agreement-for-bio-propylene-to-accelerate-commercialization-using-gevo-ethanol-to-olefins-technology","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/gevo-and-lg-chem-extend-joint-development-agreement-for-bio-propylene-to-accelerate-commercialization-using-gevo-ethanol-to-olefins-technology\/","title":{"rendered":"Gevo and LG Chem Extend Joint Development Agreement for Bio-Propylene to Accelerate Commercialization Using Gevo Ethanol-to-Olefins Technology"},"content":{"rendered":"\n\n
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Gevo, Inc. (NASDAQ: GEVO) and LG Chem, Ltd. (KRX: 051910), leading global chemical companies committed to producing sustainable products, are extending their joint development agreement (the \u201cAgreement\u201d). The agreement extension enables LG Chem to assess existing assets for deploying Gevo\u2019s Ethanol-to-Olefins (\u201cETO\u201d) technology while accelerating commercialization activities, considering project scale and end-product markets.<\/strong><\/p>\n\n\n\n

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\u201cGevo\u2019s partnership with LG Chem is a great example of how we intend to accelerate development and commercialization of our patented ETO technology to enable renewable chemicals with our world-class partner,\u201d said Gevo<\/strong>\u2019s Chief Carbon and Innovation Officer, Dr. Paul Bloom<\/strong>. \u201cOur ethanol-to-olefin process holds immense promise to decarbonize a substantial portion of the market for propylene, and LG Chem is starting commercial activities ahead of the timeline we originally planned.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Gevo\u2019s patented ETO technology can target carbon-neutral or carbon-negative drop-in replacements for traditional petroleum-based building blocks. These are core olefins, that can be used for renewable fuels and chemicals, including sustainable aviation fuel and bio-propylene. ETO technology is just one of multiple patented technologies that Gevo is bringing to bear on the challenges of developing cost-effective bio-based renewable fuels and chemicals.<\/p>\n\n\n\n

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\u201cLG Chem is committed to scaling pathways to sustainable products, and leveraging partnerships is a proven way to gain access to proprietary technologies and share ours,\u201d said Dong-hyun Cho, Vice President, Head of LG Chem<\/strong>\u2019s Petrochemicals R&D. \u201cOur joint development agreement with Gevo is already helping LG Chem to shape sustainable and eco-friendly future business strategies.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Because it can replace fossil-based products as a renewable raw material for various plastic products, bio-propylene is expected to play a pivotal role in the rapid growth of the bioplastic market and circular economy. Once commercialization is achieved, bio-propylene could be used as a drop-in replacement for use in a range of products from auto parts to flooring to diapers to replace petroleum products with bio-based materials with a low or negative carbon footprint.<\/p>\n\n\n\n

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About Gevo\u00a0<\/strong><\/h3>\n\n\n\n

Gevo’s mission is to convert renewable energy and biogenic carbon into sustainable fuels and chemicals with a net zero or better carbon footprint. Gevo\u2019s innovative technology can be used to make a variety of products, including sustainable aviation fuel (\u201cSAF\u201d), motor fuels, chemicals, and other materials. Gevo\u2019s business model includes developing, financing, and operating production facilities for these renewable fuels and other products. It currently runs one of the largest dairy-based renewable natural gas (\u201cRNG\u201d) facilities in the United States. It also owns the world\u2019s first production facility for specialty alcohol-to-jet (\u201cATJ\u201d) fuels and chemicals. Gevo emphasizes the importance of sustainability by tracking and verifying the carbon footprint of their business systems through its Verity subsidiary.<\/p>\n\n\n\n

About LG Chem<\/strong><\/h3>\n\n\n\n

LG Chem is a leading global chemical company with a diversified business portfolio in the key areas of petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of products from high-value-added petrochemicals to renewable plastics, specializing in cutting-edge electronic and battery materials, as well as drugs and vaccines to deliver differentiated solutions for its customers. LG Chem is committed to reaching carbon-neutral growth by 2030 and net-zero emissions by 2050 by managing the impacts of climate change and making positive contributions to society through renewable energy and responsible supply chains. Headquartered in Seoul, Korea, LG Chem has multiple operation sites worldwide and generated consolidated revenue of KRW 55.2 trillion (USD 42.3 billion) in 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gevo, Inc. (NASDAQ: GEVO) and LG Chem, Ltd. (KRX: 051910), leading global chemical companies committed to producing sustainable products, are extending their joint development agreement (the \u201cAgreement\u201d). The agreement extension enables LG Chem to assess existing assets for deploying Gevo\u2019s Ethanol-to-Olefins (\u201cETO\u201d) technology while accelerating commercialization activities, considering project scale and end-product markets. \u201cGevo\u2019s partnership […]<\/p>\n","protected":false},"author":59,"featured_media":155699,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","nova_meta_subtitle":"The renewed commitment by both partners accelerates efforts to scale up commercialization ahead of the original timeline","footnotes":""},"categories":[5572],"tags":[6843,10416,12384,10408,21616],"supplier":[818,1567],"class_list":["post-155688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bio-based","tag-biochemicals","tag-circulareconomy","tag-ethanol","tag-greenchemistry","tag-olefins","supplier-gevo-inc","supplier-lg-chem"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/155688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=155688"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/155688\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media\/155699"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=155688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=155688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=155688"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=155688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}