Recent IPOs Review: Gevo’s Landmark Patent
Gevo (NASDAQ:GEVO) received a landmark patent from the United States Patent and Trademark Office on its GIFT separation unit, a central element in the Company’s unique fermentation technology for the production of isobutanol. Gevo was awarded U.S. Patent No. 8,101,808, “Recovery of Higher Alcohols From Dilute Aqueous Solutions.” This patent addresses the separation technology used to produce propanols, butanols, pentanols, and hexanols. The claims also address how ethanol plants can be retrofitted to produce higher alcohols.
The shares closed at $7.35, up $0.49, or 7.14% on the day. The stock is $7.65 or 51% lower than IPO price of $15.00.
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