Gevo Wins in Court; Surges Over 40%

Shares of biofuel company Gevo

are seeing increased strength during Wednesday's trading session after the company received a favorable ruling from the U.S. District Court of Delaware. The U.S. District Court of Delaware denied the Motion for Preliminary Injunction sought by Butamax Advanced Biofuels, LLC against Gevo. This decision replaces the previous court order, and means that Gevo is once again free to sell in any market, to any customer, in any region. “We are pleased that the first judicial decision in this dispute landed decisively in favor of Gevo,” said Brett Lund, EVP and General Counsel for Gevo. “For the last year, we have publicly stated that we believe that Patent No. 7,993,889 (‘889 Patent) is invalid and that we do not infringe. This ruling provides judicial support for both positions.” Currently, shares of Gevo are trading up over 36% at $8.06 per share.