Energy

Biofuel Maker’s Shares Rise on Favorable Patent Ruling

Biofuel Cans
Source: Thinkstock
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.

Sponsored: Want to Retire Early? Here’s a Great First Step

Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.