Gevo Acquires CultivateAI for its Verity Business Unit
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) ha acquisito Cultivate Agricultural Intelligence (CultivateAI) per 6 milioni di dollari in contante, con potenziali ulteriori pagamenti legati ai risultati. CultivateAI sarà integrato nella controllata Verity di Gevo per accelerare lo sviluppo del business e la crescita. CultivateAI, un'azienda comprovata con un fatturato previsto per il 2024 di 1,7 milioni di dollari e un flusso di cassa positivo, fornisce dati agricoli attraverso una piattaforma SaaS.
L'acquisizione mira a combinare i dati e l'analisi dell'agricoltura digitale di CultivateAI con le soluzioni di contabilità e monitoraggio del carbonio di Verity. Questa integrazione dovrebbe fornire soluzioni di alta qualità, basate sui dati, per la riduzione del carbonio in vari mercati, aiutando al contempo gli agricoltori a migliorare le operazioni, la sostenibilità e la redditività.
Gevo prevede che questa acquisizione accelererà lo sviluppo di Verity, aumenterà il valore per i clienti e creerà nuove fonti di reddito al di fuori del segmento dei biocarburanti. L'azienda considera questa come un'opportunità per sostenere la sua missione di promuovere un'economia circolare efficiente e fornire ritorni per gli azionisti attraverso opportunità di reddito scalabili.
Gevo, Inc. (NASDAQ: GEVO) ha adquirido Cultivate Agricultural Intelligence (CultivateAI) por 6 millones de dólares en efectivo, con posibles pagos adicionales vinculados a resultados. CultivateAI se integrará en la filial Verity de Gevo para acelerar el desarrollo del negocio y el crecimiento. CultivateAI, un negocio comprobado con ingresos esperados de 1,7 millones de dólares en 2024 y flujo de caja positivo, proporciona datos agrícolas a través de una plataforma SaaS.
La adquisición tiene como objetivo combinar la plataforma de datos y análisis de agricultura digital de CultivateAI con las soluciones de contabilidad y seguimiento de carbono de Verity. Se espera que esta integración ofrezca soluciones de alta calidad basadas en datos para la reducción de carbono en varios mercados, mientras ayuda a los agricultores a mejorar las operaciones, la sostenibilidad y la rentabilidad.
Gevo anticipa que esta adquisición acelerará el desarrollo de Verity, aumentará el valor para los clientes y creará nuevas fuentes de ingresos fuera del segmento de biocombustibles. La empresa ve esto como una oportunidad para apoyar su misión de fomentar una economía circular eficiente y ofrecer retornos a los accionistas a través de oportunidades de ingresos escalables.
Gevo, Inc. (NASDAQ: GEVO)는 Cultivate Agricultural Intelligence (CultivateAI)를 현금 600만 달러에 인수했습니다, 추가 성과금 지급 가능성이 있습니다. CultivateAI는 Gevo의 Verity 자회사에 통합되어 사업 개발 및 성장을 가속화할 것입니다. CultivateAI는 2024년 예상 수익이 170만 달러와 긍정적인 현금 흐름을 보이는 검증된 비즈니스로, SaaS 플랫폼을 통해 농업 데이터를 제공합니다.
이번 인수는 CultivateAI의 디지털 농업 데이터 및 분석 플랫폼을 Verity의 탄소 회계 및 추적 솔루션과 결합하는 것을 목표로 합니다. 이 통합은 다양한 시장에서 탄소 감축을 위한 고품질 데이터 기반 솔루션을 제공하며, 농부들이 운영, 지속 가능성 및 수익성을 개선하는 데 도움을 줄 것으로 예상됩니다.
Gevo는 이번 인수가 Verity의 개발을 가속화하고 고객 가치를 증가시키며, 바이오 연료 분야 외부에서 새로운 수익원을 생성할 것이라고 예상하고 있습니다. 이 회사는 이를 효율적인 순환 경제를 성장시키고, 확장 가능한 수익 기회를 통해 주주 수익을 제공하는 미션을 지원하는 기회로 보고 있습니다.
Gevo, Inc. (NASDAQ: GEVO) a acquis Cultivate Agricultural Intelligence (CultivateAI) pour 6 millions de dollars en espèces, avec des paiements supplémentaires potentiels. CultivateAI sera intégré dans la filiale Verity de Gevo pour accélérer le développement commercial et la croissance. CultivateAI, une entreprise éprouvée avec des revenus prévus de 1,7 million de dollars en 2024 et un flux de trésorerie positif, fournit des données agricoles via une plateforme SaaS.
Cette acquisition vise à combiner les données agricoles numériques et la plateforme d'analyse de CultivateAI avec les solutions de comptabilité et de suivi du carbone de Verity. Cette intégration devrait fournir des solutions de haute qualité, basées sur les données, pour la réduction du carbone sur divers marchés tout en aidant les agriculteurs à améliorer leurs opérations, leur durabilité et leur rentabilité.
Gevo prévoit que cette acquisition accélérera le développement de Verity, augmentera la valeur pour les clients et créera de nouvelles sources de revenus en dehors du segment des biocarburants. L'entreprise considère cela comme une opportunité de soutenir sa mission de développer une économie circulaire efficace et de fournir des rendements aux actionnaires grâce à des opportunités de revenus évolutives.
Gevo, Inc. (NASDAQ: GEVO) hat Cultivate Agricultural Intelligence (CultivateAI) für 6 Millionen US-Dollar in bar erworben, mit möglichen zusätzlichen leistungsabhängigen Zahlungen. CultivateAI wird in die Tochtergesellschaft Verity von Gevo integriert, um die Geschäftsentwicklung und das Wachstum zu beschleunigen. CultivateAI, ein bewährtes Unternehmen mit voraussichtlichen Einnahmen von 1,7 Millionen US-Dollar im Jahr 2024 und positivem Cashflow, bietet landwirtschaftliche Daten über eine SaaS-Plattform an.
Die Akquisition zielt darauf ab, die digitale Landwirtschaftsdaten- und Analytics-Plattform von CultivateAI mit Veritys Lösungen zur Kohlenstoffbilanzierung und -verfolgung zu kombinieren. Diese Integration wird voraussichtlich hochwertige, datengestützte Lösungen zur Kohlenstoffminderung in verschiedenen Märkten bieten und gleichzeitig Landwirten helfen, ihren Betrieb, die Nachhaltigkeit und die Rentabilität zu verbessern.
Gevo erwartet, dass diese Akquisition Veritys Entwicklung beschleunigt, den Kundenwert steigert und neue Einnahmequellen außerhalb des Biokraftstoffsegments schafft. Das Unternehmen sieht dies als eine Gelegenheit, seine Mission zu unterstützen, eine effiziente Kreislaufwirtschaft zu fördern und Aktionärsrenditen durch skalierbare Einnahmequellen zu erzielen.
- Acquisition of CultivateAI for $6 million in cash, with potential for additional earn-out payments
- CultivateAI expected to generate $1.7 million in revenue and positive cash flow in 2024
- Integration of CultivateAI's platform with Verity's solutions to provide enhanced data-driven services
- Expansion into new markets beyond biofuels, creating additional revenue streams
- Acceleration of Verity's business development and growth
- None.
Insights
The acquisition of CultivateAI by Gevo for
The integration of CultivateAI's SaaS platform with Verity's carbon accounting solutions creates a comprehensive offering for carbon abatement across various markets. This synergy could lead to increased market share and customer base expansion beyond the biofuel segment.
For investors, this acquisition represents a diversification of revenue streams and potential for scalable growth. The immediate addition of profitable revenue is positive, but the long-term value lies in the enhanced capabilities and expanded market opportunities. However, the full impact on Gevo's financials will depend on successful integration and market adoption of the combined solutions.
The acquisition of CultivateAI by Gevo marks a significant advancement in the integration of digital agriculture with carbon accounting. CultivateAI's cloud-based, mobile platform for real-time analytics in farm operations complements Verity's focus on carbon tracking and valuation.
This merger addresses a critical need in the agricultural sector for data-driven decision-making tools that simultaneously improve operational efficiency, sustainability and profitability. The combined platform has the potential to offer farmers and agribusinesses a unique value proposition by linking agricultural practices directly to carbon intensity metrics.
The move also positions Gevo/Verity at the intersection of two growing trends: precision agriculture and carbon markets. This could lead to a competitive advantage in attracting both traditional agricultural clients and those seeking to participate in emerging carbon credit systems, potentially driving significant long-term growth.
Accelerates revenue, capability, and growth of Verity
ENGLEWOOD, Colo., Sept. 26, 2024 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) has acquired Cultivate Agricultural Intelligence, LLC (“CultivateAI”) for
Gevo expects to combine CultivateAI’s digital agriculture data and analytics platform with Verity’s carbon accounting and tracking solutions to provide the highest quality data-driven solutions for carbon abatement in food, feed, fuels, and industrial markets, while simultaneously helping farmers improve their operations, sustainability, and profitability. CultivateAI’s SaaS platform is a cloud-based, mobile platform that helps farm operators, agronomists, ag-service providers, and researchers make informed, data-driven decisions with real-time analytics.
“Adding CultivateAI and its inventive approach to Verity will help us grow revenue by providing the most complete set of data-driven analytics services to farmers, agronomists, and researchers,” said Dr. Paul Bloom, Head of Verity and Chief Carbon Officer of Gevo. “With this acquisition, Verity is speeding up our development and increasing the value we will deliver to our customers.”
Verity is at the forefront of creating the ability to track, verify, and empirically value carbon intensity across the full carbon lifecycle. By adding the tools and existing business from CultivateAI, Verity will benefit from the addition of clients outside the biofuel segment as well as additional revenue streams.
“We are constantly looking for this kind of development that delivers new streams of untapped revenue to the company,” said Dr. Pat Gruber, CEO of Gevo. “As we accelerate development of Verity, we expect to see these customer relationships and revenue opportunities grow as customers seek out new products and services that help them understand their businesses better. These new business elements support our mission of growing an efficient circular economy, and delivering shareholder returns by adding scalable revenue opportunities now.”
About Gevo
Gevo's mission is to convert renewable energy and biogenic carbon into sustainable fuels and chemicals with a net zero or better carbon footprint. Gevo’s innovative technology can be used to make a variety of products, including sustainable aviation fuel (“SAF”), motor fuels, chemicals, and other materials. Gevo’s business model includes developing, financing, and operating production facilities for these renewable fuels and other products. It currently runs one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States. It also owns the world’s first production facility for specialty alcohol-to-jet (“ATJ”) fuels and chemicals. Gevo emphasizes the importance of sustainability by tracking and verifying the carbon footprint of its business systems through its Verity subsidiary.
For more information, see www.gevo.com.
About Verity
Verity is at the forefront of creating the ability to track, verify, and empirically value carbon intensity across the full carbon lifecycle. Verity Holdings, LLC is a wholly owned subsidiary of Gevo, Inc.
For more information, see www.veritytracking.com.
About CultivateAI
CultivateAI is a cloud-based, mobile platform that helps its customers make informed, data-driven decisions with real-time analytics. Its trusted insights are designed to help agricultural operations increase production, manage risk, and maximize profitability.
For more information, see cultivateagi.com.
Forward Looking Statement
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, CultivateAI and its operations, the integration of CultivateAI into Verity, CultivateAI’s expected financial results and other statements that are not purely statements of historical fact. These forward-looking statements are made based on the current beliefs, expectations, and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2023 and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.
Media Contact
Lindsay Fitzgerald
Senior Vice President of Public Affairs
PR@gevo.com
Investor Contact
Eric Frey, PhD
Vice President of Finance & Strategy
IR@Gevo.com
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