Gevo and Shell collaborate on the green revolution in motorsport: Details – Gevo (NASDAQ:GEVO)

Gevo, Inc. GEVO Shares are trading higher today. On Wednesday, the company announced a purchase agreement with Shell plc‘S SIGN Shell Global Solutions Deutschland GmbH for its low-carbon fuel blends developed for use in motorsport.

Financial terms of the supply agreement were not disclosed. The renewable blendstock is designed to combine sustainability with premium motorsport performance.

Damien Perriman, Chief Business Development Officer at Gevo, said: “The racing industry excites and inspires, and its huge audience appreciates how technology can enhance the human experience. Leading companies around the world look to Gevo to deliver carbon neutral fuels and chemicals.”

“With products such as renewable fuels for all modes of transportation, special additives for lubricants and sustainable chemicals that replace outdated technologies, Gevo is excited to drive this change.”

Gevo’s low carbon fuel blend is designed to meet the high demands of intense racing schedules, offering improved net energy storage and lower carbon emissions.

Matthias Mundt, General Manager Fuels Technology Future Mobility Portfolio at Shell, said: “As a supplier of specialty fuels to racing series around the world, Shell is focused on improving sustainability while maximizing efficiency and performance, such as with the 100% renewable racing fuel we developed for the NTT INDYCAR series.”

This month, Gevo reported a second-quarter earnings loss per share of $0.09, in line with consensus forecasts, and revenue of $5.260 million, above forecast of $4.247 million.

Price promotion: GEVO shares rose 1.14% to $0.7870 at last check on Thursday.

Photo courtesy: Shutterstock

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Disclaimer: This content was created in part using AI tools and reviewed and published by Benzinga editors.

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