HCS and GEVO in LOI for Offtake Pact
HCS Group, owner of German hydrocarbons and specialty chemicals manufacturer Haltermann Carless Solutions, has signed a Letter of Intent (LOI) for a long-term definitive offtake agreement with US renewable chemicals and advanced biofuels producer GEVO, based at Englewood, Colorado. The pact would cover the purchase of renewable isooctane in two phases.
The first phase concerns the regular purchase by HCS of renewable isooctane or high octane paraffinic hydrocarbons from GEVO’s demonstration plant located in Silsbee, Texas, USA. The second phase pertains to offtake of renewable isooctane from a commercial plant GEVO intends to build.
Separately, the future partners said they plan to negotiate an offtake agreement for bio-based jet fuel or other products such as bio-based isobutanol.
Securing renewable components is in line with HSC’s commitment to deliver state-of-the-art sustainable solutions to customers, said Henrik Krüpper, chief sustainability officer and member of the executive committee. Patrick Gruber, CEO of GEVO, said the combination of two technical knowhow and new renewable technologies could lead to a “very promising partnership in developing and implementing next-generation biofuels and bio-based chemical products.”
Haltermann Carless has a network of manufacturing facilities in the US, Germany, the UK and France. In addition to its Colorado headquarters and the plant in Texas, GEVO also has production facilities in Luverne, Minnesota, USA.