July 23, 2007
FOR IMMEDIATE RELEASE
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NEW YORK (July 23, 2007)—Thelen has represented cutting-edge biofuels company Gevo, Inc. in a significant strategic investment from Virgin Fuels, a new green energy affiliate of Virgin Air.
Virgin now joins legendary venture capitalist and biofuels advocate Vinod Khosla as a backer of Gevo's revolutionary new biofuels process. Virgin founder Richard Branson has stated an interest in using biofuels to run his company's fleet of commercial jetliners. Virgin Fuels was founded last year with a mission to invest $400 million in cleaner, alternative forms of energy in the fight against greenhouse gas emissions.
The financing transaction, which was completed on July 16, involved the sale of Series B Preferred Stock for a cash investment of undisclosed size. Gevo was represented in the deal by Los Angeles Business and Finance partner Stephen Rothman, with assistance from Technology, Media, and Communications attorney Ayan Kayal.
"This transaction is a good example of both Thelen's strong position in the alternative energy field and its leading representation of university spinout companies," said Mr. Rothman.
Gevo was established in 2005 based on breakthrough research conducted at the California Institute of Technology by company founders Frances Arnold, Matthew Peters, and Peter Meinhold, who genetically modified microorganisms in order to produce butanol and other new biofuels more efficiently. This technique is now being developed by the rapidly growing Gevo along with a fermentation process for producing butanol from agricultural crops. As a transportation fuel, butanol is less corrosive than ethanol, can be used in existing engines and pipelines without first mixing it with gasoline, and produces no net increase in greenhouse gases.
Thelen serves as general outside counsel to Gevo. Silicon Valley IP partner Robert Krebs and associates Theresa Takeuchi and Jonathan Passner work to protect Gevo's exclusive patents.
New York partner JoAnne Adlerstein deals with immigration issues for the company; associate Lori Harrison handles its trademarks; and partner Brian Gallagher deals with its tax matters.
For more information, contact:
Kevin Livingston
National Manager of Public Relations
Thelen LLP
415.369.7224
klivingston@thelen.com
About Thelen LLP
Thelen LLP is an international law firm with approximately 600 attorneys, and offices in New York , San Francisco , Washington , DC, Los Angeles , Silicon Valley , Hartford , Northern New Jersey , Shanghai , and London . The firm provides superior legal services in complex commercial litigation; corporate and capital markets transactions; project and asset finance; construction; labor and employment; intellectual property; information technology; domestic and international tax; employee benefits; government affairs; and real estate.
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