Gevo, Inc. (GEVO) Pops Higher on Verdict vs. Butamax in Isobutanol Case (DD) (BP)
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Gevo, Inc. (Nasdaq: GEVO) shares are markedly higher in pre-market trading Wednesday following a positive verdict issued late Tuesday.
U.S. District Judge Sue Robinson in Wilmington, Delaware, said Gevo didn't infringe on a Butamax Advanced Biofuels, LLC, patent which covers commercial production of isobutanol. Robinson said Gevo didn't infringe on patents under the doctrine of equivalents. She agreed that the difference between Gevo's and Butamax's methods wasn't as "insubstantial" as Butamax argued.
Trial on the case is expected to start in August 2013.
Butamax sued Gevo in 2011, claiming its method of isobutanol misused genetically engineered microorganism technology.
Butamax Advanced Biofuels, LLC, is a joint venture between BP plc (NYSE: BP) and DuPont Co. (NYSE: DD).
Shares of Gevo are up about 14.6 percent.
U.S. District Judge Sue Robinson in Wilmington, Delaware, said Gevo didn't infringe on a Butamax Advanced Biofuels, LLC, patent which covers commercial production of isobutanol. Robinson said Gevo didn't infringe on patents under the doctrine of equivalents. She agreed that the difference between Gevo's and Butamax's methods wasn't as "insubstantial" as Butamax argued.
Trial on the case is expected to start in August 2013.
Butamax sued Gevo in 2011, claiming its method of isobutanol misused genetically engineered microorganism technology.
Butamax Advanced Biofuels, LLC, is a joint venture between BP plc (NYSE: BP) and DuPont Co. (NYSE: DD).
Shares of Gevo are up about 14.6 percent.
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