Arabian American Development Co. ARSD announced today that it has signed a contract
with Gevo, Inc. GEVO to extend toll processing services of the
hydrocarbon processing demonstration plant at its South Hampton Resources
(SHR) facility in Silsbee, Texas and construct a second demonstration unit
to provide Gevo with toll-processing services necessary to process up to
16,000 pounds per month of mixed octane materials produced on the existing
isobutanol to jet demonstration unit.
The new demonstration unit will produce paraxylene for polyethylene
terephthalate (PET). This will allow Gevo to supply early adopters with
product so they can test material, make samples and start their selling
cycle. The contract is for a year and a half with one-year extensions
available thereafter. The demonstration plant is slated for completion in Q3
2013. SHR will complete the final design and engineering package for the
unit from preliminary plans supplied by Gevo and will incur incidental costs
related to site preparation and tie-ins.
Nick Carter, President and CEO commented, "We are happy to expand our
relationship with a partner developing cutting edge technology like Gevo.
This is a further testament to our ability to provide custom solutions for
our clients in a timely manner, whatever their needs may be. As we have
previously mentioned, we will continue to focus on adding and growing
tolling relationships like this throughout the coming year."
"We have been impressed with the quality of service that South Hampton
provides. I believe this agreement stands as a testament to our confidence
in the team at SHR," stated Christopher Ryan, President, Chief Operating
Officer, and Chief Technology Officer.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: News
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in