Gevo rises on deal to supply renewable jet fuel to Lufthansa

Gevo climbed the most in a month after agreeing to supply renewable jet fuel to Lufthansa AG. The German air carrier agreed to buy as much as 30m litres a year over five years at a price that will allow Gevo to build out its first commercial-scale hydrocarbon plant in Minnesota, the Englewood, Colorado-based biofuel developer said Wednesday. Gevo uses corn and plant waste to make isobutanol, which can be converted into hydrocarbon fuels. It has been producing and selling its alcohol-to-jet fuel since 2011 in an effort to help airlines reduce their carbon emissions and control fuel costs, the company said on its website. A final, binding off-take agreement with Lufthansa will be signed in the next few months, Gevo said.<br/>