IHS Chemical Week

Gevo Raises $95.7 Million in IPO

11:58 AM MST | February 9, 2011

Biofuel and biochemical company Gevo (Englewood, CO) says it has raised about $95.7 million in its initial public offering (IPO) of 7.15 million shares. Shares were priced at $15/share. Gevo first filed for the IPO last August. Gevo is developing a fermentation process to produce the organic compound isobutanol from the fermentable sugars in biomass, starting with corn. Isobutanol is a fundamental building block for making biodiesel, bio jet fuel as well as plastics, rubber and fibers. Lanxess invested $10 million in Gevo last...

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