Biofuel Maker’s Shares Rise on Favorable Patent Ruling

Energy

Published: March 20, 2013 12:12 pm

Last Updated: April 27, 2020 5:41 pm

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Biofuel maker Gevo Inc. (NASDAQ: GEVO) won a partial victory in federal court yesterday when a judge ruled that its method for producing isobutanol does not infringe on a patent held by Butamax Advanced Biofuels LLC, a joint venture of BP plc (NYSE: BP) and E.I. du Pont de Nemours and Co. (NYSE: DD). However the judge decline to issue a summary judgment in favor of Gevo and the case will go to trial as scheduled in August.

Butamax filed suit against Gevo for patent infringement in 2011, and in June of last year Gevo won its first battle when a court ruled it “likely” did not infringe and could continue to sell its product. Butamax appealed and yesterday’s ruling was the outcome of that appeal.

Isobutanol is a contender to replace corn-based ethanol as an additive to gasoline. The stuff has a higher energy content than ethanol — about 80% of an equivalent amount of gasoline compared with less than 70% for ethanol — and Gevo’s process can produce isobutanol more cheaply than its competitors.

Shares of Gevo are up 9.7% at about noon today, at $2.26 in a 52-week range of $1.36 to $10.39.

Cash Back Credit Cards Have Never Been This Good

Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.