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People & Business :: Companies

Lanxess Invests in U.S. Biofuel Firm Gevo

11:05 PM MDT | May 26, 2010 | Deepti Ramesh

Lanxess says it has invested $10 million in the privately held biofuel and biochemical company Gevo (Englewood, CO), as part of a proposed cooperation to produce isobutene from renewable resources. Through the investment, Lanxess has received a minority shareholding in Gevo, and Ron Commander, head of the Lanxess’ butyl rubber business unit will join the Gevo board of directors. The Lanxess investment follows Total’s unspecified investment in Gevo in April 2009. Lanxess and Gevo aim to find an alternative route to source isobutene, a key raw material...

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