Welcome to our dedicated page for Gevo news (Ticker: GEVO), a resource for investors and traders seeking the latest updates and insights on Gevo stock.
Gevo, Inc. (NASDAQ: GEVO) is a pioneering company in the renewable chemicals and advanced biofuels industry. Gevo is focused on developing biobased alternatives to petroleum-based products through a blend of synthetic biology and chemistry. The company's core product is isobutanol, a versatile platform chemical used in the liquid fuels and petrochemical markets.
One of Gevo's key innovations is its ability to produce isobutanol from renewable resources. This bio-based isobutanol can be used as a solvent, a gasoline blendstock, and can be converted into jet fuel, feedstocks for synthetic rubber, plastics, and polyesters. Gevo's proprietary technology is designed to retrofit existing ethanol plants, making the transition to bio-based production smoother and more cost-effective.
Gevo operates through several segments: the Gevo segment, focused on research and development; the Renewable Natural Gas (RNG) Segment; the Net-Zero Segment, and the Agri-Energy Segment. These segments are involved in various activities including the production of sustainable aviation fuel (SAF), the commercialization of renewable hydrocarbon products, and the development of biocatalysts.
Recent corporate highlights include the completion of Front End Engineering Design (FEED) for the Net-Zero 1 (NZ1) plant and progress on detailed engineering and term sheet negotiations for a U.S. Department of Energy loan guarantee. Gevo has also expanded its Iowa dairy manure RNG project, capturing methane emissions from dairy farms to produce RNG. This project now boasts a production capacity of 400,000 MMBtu per year.
In addition to its renewable fuel initiatives, Gevo has developed Verity Carbon Solutions, a carbon tracking application for farmers. This tool helps farmers visualize data related to corn production, enabling better decision-making to improve production and reduce carbon footprints.
Gevo’s Ethanol-to-Olefins (ETO) technology has also seen advancements, with its first licensing payment from LG Chem. This technology converts ethanol into olefins, essential for making chemicals, plastics, and fuels.
Financially, Gevo has shown resilience and growth. For Q3 2023, it reported a significant increase in operating revenue, primarily driven by sales from its RNG project. The company continues to manage its project development costs effectively while engaging in strategic partnerships and innovations to remain at the forefront of the renewable energy sector.
Verity Holdings, a subsidiary of Gevo Inc. (NASDAQ: GEVO), has announced a new partnership with Midwest Renewable Energy (MRE), a Nebraska-based ethanol producer. MRE will utilize Verity's end-to-end carbon accounting platform to track sustainability metrics and enhance profitability. The platform will assist MRE in data collection, management, and lifecycle analysis calculations for participation in low carbon fuel production programs.
MRE, which produces ethanol for fuel, industrial, pharmaceutical, food, and beverage applications, aims to expand monetization opportunities through tax credits, compliance, and voluntary markets. The partnership will enable MRE to access carbon value opportunities beyond regulatory programs through Verity's network of clients.
Gevo and LG Chem have extended their joint development agreement to accelerate the commercialization of Gevo's Ethanol-to-Olefins (ETO) technology. The extension allows LG Chem to evaluate existing assets for implementing the ETO technology, which can produce carbon-neutral or carbon-negative alternatives to petroleum-based building blocks. The partnership focuses on developing bio-propylene, which can be used as a renewable raw material for various plastic products, from auto parts to flooring and diapers. Dr. Paul Bloom, Gevo's Chief Carbon and Innovation Officer, highlighted that commercial activities are progressing ahead of the original timeline.
Gevo Inc. (NASDAQ: GEVO) announced that Red Trail Energy's equity holders have approved the acquisition of their ethanol production plant and carbon capture and sequestration (CCS) assets in Richardton, North Dakota. The $210 million cash transaction is expected to close by Q1 2025, subject to regulatory approvals and financing.
This strategic acquisition aims to accelerate Gevo's mission in developing net-zero hydrocarbon fuels and chemicals, potentially enabling the company to become self-sustaining and profitable before their Net-Zero 1 project launches. The assets provide an ideal location for a 'Net-Zero North' plant to produce sustainable aviation fuel (SAF) and offer carbon sequestration capabilities that could benefit multiple Gevo facilities in the region.
Gevo (NASDAQ: GEVO) has announced its participation in an upcoming fireside chat with H.C. Wainwright. The event will feature Lindsay Fitzgerald, Executive Vice President of Corporate Affairs, and Dr. Eric Frey, Vice President of Finance and Strategy. The chat is scheduled for Wednesday, November 20, 2024, at 4:00pm ET. Interested participants, including investors, can access the event through a provided registration link.
Gevo (NASDAQ: GEVO) has announced its participation in an upcoming virtual investor event. The company's Executive Vice President of Finance, Leke Agiri, will be presenting at the Renmark Virtual Non-Deal Roadshow Series on Thursday, November 14th at 2:00pm ET. Interested investors can participate by registering through the provided link on Renmark Financial's website.
Gevo Inc reported Q3 2024 financial results with combined revenue and interest income of $5.8 million. The company secured a $1.6 billion DOE loan guarantee conditional commitment for its Net-Zero 1 project. Key developments include the acquisition of Red Trail Energy's ethanol and carbon capture assets, expected to contribute to positive Adjusted EBITDA in 2025. Q3 highlights: cash position of $292.9 million, RNG subsidiary revenue of $2.0 million, and net loss of $0.09 per share. The company's RNG revenue decreased due to environmental attribute inventory buildup, anticipating LCFS Program pathway approval in Q1 2025.
Gevo (NASDAQ: GEVO) has scheduled its third quarter 2024 financial results conference call for November 7, 2024, at 4:30 p.m. ET (2:30 p.m. MT). The call will cover financial performance for the quarter ended September 30, 2024. Participants can register for the live call through a provided weblink to receive dial-in details. An audio-only option is also available via a separate weblink. A webcast replay will be accessible two hours after the call concludes in the Investor Relations section of Gevo's website.
Gevo, Inc. (NASDAQ: GEVO) has received a conditional commitment for a $1.46 billion loan guarantee from the U.S. Department of Energy Loan Programs Office for its Net-Zero 1 project (NZ1) in South Dakota. This marks a significant milestone for the world's first large-scale net-zero-emissions alcohol-to-jet production facility.
The NZ1 facility in Lake Preston will produce approximately 60 million gallons of sustainable aviation fuel (SAF), 1.3 billion pounds of protein and animal feed products, and 30 million pounds of corn oil annually. The project is expected to create over 1,300 indirect jobs during construction and 100 permanent jobs at the plant, with an annual economic impact exceeding $100 million.
This conditional commitment is a important step towards finalizing the financing for NZ1, potentially attracting additional capital investments and accelerating SAF commercialization. The project aims to transform the aviation industry by providing scalable, sustainable, and economical renewable-carbon-based jet fuel.
Gevo, Inc. (NASDAQ: GEVO) has acquired Cultivate Agricultural Intelligence, (CultivateAI) for $6 million in cash, with potential additional earn-out payments. CultivateAI will be integrated into Gevo's Verity subsidiary to accelerate business development and growth. CultivateAI, a proven business with expected 2024 revenue of $1.7 million and positive cash flow, provides agricultural data through a SaaS platform.
The acquisition aims to combine CultivateAI's digital agriculture data and analytics platform with Verity's carbon accounting and tracking solutions. This integration is expected to provide high-quality, data-driven solutions for carbon abatement in various markets while helping farmers improve operations, sustainability, and profitability.
Gevo anticipates that this acquisition will accelerate Verity's development, increase customer value, and create new revenue streams outside the biofuel segment. The company views this as an opportunity to support its mission of growing an efficient circular economy and delivering shareholder returns through scalable revenue opportunities.
Gevo, Inc. (NASDAQ: GEVO) has announced the sale of approximately $20 million in Investment Tax Credits generated by its Gevo NW Iowa RNG facility under the Inflation Reduction Act. This transaction provides net cash proceeds of about $17 million after fees. The RNG facility, optimized to produce 400,000 MMBtus of RNG annually, is expected to reduce greenhouse gas emissions by up to 175,000 metric tons of CO2 equivalent per year.
The sale monetizes tax credits from the facility's commercialization, improving Gevo's liquidity and ability to fund strategic sustainable aviation fuels (SAF) projects. The company continues to explore scaling opportunities for its RNG business and potential synergies with other operations. This transaction demonstrates how Gevo's focus on renewable energy optimization creates value for shareholders.
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