Our strategy of retrofitting existing ethanol facilities allows us the opportunity to capitalize on the approximately 20 billion gallons per year of operating ethanol production capacity worldwide. In North America, we will work with our exclusive contractor, ICM.
Gevo believes that its low cost commercial deployment strategy will allow rapid expansion of production capacity in response to customer demand. Gevo’s technology platform is designed to give current ethanol producers an opportunity to increase their operating margins through the retrofit of their pre-existing facilities.
Additionally, Gevo’s capability to convert sugars from multiple renewable feedstocks into isobutanol will enable us to leverage historically low-cost grain feedstocks (e.g., corn) and to eventually expand our production capacity into international markets that use sugar cane or other feedstocks which are prevalent outside of the U.S.
We plan to expand our production capacity beyond our initial commercial facility to produce and sell over 350 million gallons per year (MGPY) of isobutanol by 2015.