Gevo, LG Chem Extend Partnership for Deploying Ethanol-to-Olefins Technology

Business Collaboration Gevo, LG Chem Extend Partnership for Deploying Ethanol-to-Olefins Technology

2024-12-17 Source: Press release Gevo 2 min Reading Time

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Gevo and LG Chem have decided to extend their joint development agreement under which LG Chem will assess its existing assets for deploying Gevo’s Ethanol-to-Olefins technology. With this move, the companies aim to accelerate its commercialization activities ahead of the original timeline.

Gevo and LG Chem are extending their joint development agreement. (Source: Pixabay) — Gevo and LG Chem are extending their joint development agreement.
(Source: Pixabay)

Colorado/USA – Gevo and LG Chem are extending their joint development agreement (the “Agreement”). The agreement extension enables LG Chem to assess existing assets for deploying Gevo’s Ethanol-to-Olefins (“ETO”) technology while accelerating commercialization activities, considering project scale and end-product markets.

“Gevo’s partnership with LG Chem is a great example of how we intend to accelerate development and commercialization of our patented ETO technology to enable renewable chemicals with our world-class partner,” said Gevo’s Chief Carbon and Innovation Officer, Dr. Paul Bloom. “Our ethanol-to-olefin process holds immense promise to decarbonize a substantial portion of the market for propylene, and LG Chem is starting commercial activities ahead of the timeline we originally planned.”

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Gevo’s patented ETO technology can target carbon-neutral or carbon-negative drop-in replacements for traditional petroleum-based building blocks. These are core olefins, that can be used for renewable fuels and chemicals, including sustainable aviation fuel and bio-propylene. ETO technology is just one of multiple patented technologies that Gevo is bringing to bear on the challenges of developing cost-effective bio-based renewable fuels and chemicals.

“LG Chem is committed to scaling pathways to sustainable products, and leveraging partnerships is a proven way to gain access to proprietary technologies and share ours,” said Dong-hyun Cho, Vice President, Head of LG Chem’s Petrochemicals R&D. “Our joint development agreement with Gevo is already helping LG Chem to shape sustainable and eco-friendly future business strategies.”

Because it can replace fossil-based products as a renewable raw material for various plastic products, bio-propylene is expected to play a pivotal role in the rapid growth of the bioplastic market and circular economy. Once commercialization is achieved, bio-propylene could be used as a drop-in replacement for use in a range of products from auto parts to flooring to diapers to replace petroleum products with bio-based materials with a low or negative carbon footprint.

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