Wednesday, February 9, 2011

Gevo Debuts In IPO

Englewood, Colorado-based Gevo, a developer of renewable fuel processing technology, debuted on the Nasdaq Global Market this morning its its IPO. Gevo sold 7.5 million shares of its common stock at $15.00 per share, at the high end of its $13 to $15 estimated IPO range. The firm was trading as high as $17.50 in morning trading on Wednesday. Gevo is headed by Patrick Gruber. Gevo's process technology convertes renewable feedstocks into isobutanol, a replacement for petroleum products in chemicals and fuel.