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.
Chevron U.S.A. Inc. and Gevo, Inc. have signed a letter of intent to invest in facilities that convert inedible corn into sustainable aviation fuel (SAF). This partnership aims to lower carbon intensity in aviation fuels and produce proteins and corn oil. Gevo will utilize its technology for SAF production, and Chevron plans to off-take around 150 million gallons annually for marketing. The collaboration is contingent on negotiating definitive agreements and obtaining regulatory approval. This investment aligns with Chevron's strategy to provide renewable fuels and enhance its market position.
Gevo, Inc. (NASDAQ: GEVO) has announced plans to install a pilot unit for alcohol-to-hydrocarbon processing at its Luverne, Minnesota facility. The unit aims to produce sustainable aviation fuel (SAF), renewable gasoline, and chemical products, with installation expected to start in Q3 2022 and production slated for Q4 2022. The pilot will also support Gevo's future Net-Zero 1 production facility, set to begin in 2024 in South Dakota. This initiative is intended to enhance technology development and employee training, contributing to local job growth.
Gevo, Inc. (NASDAQ: GEVO) reported a net loss of $18.3 million for Q2 2021, compared to a loss of $6.0 million in Q2 2020. Revenue decreased to $0.4 million, down from $1.0 million in the prior year. Cash reserves increased to $567.2 million, up from $525.3 million in Q1 2021. The company’s renewable natural gas project is on schedule, expecting annual cash distributions of $9 to $16 million starting late 2022. CEO Patrick Gruber highlighted progress in the Net-Zero 1 Project with engineering work anticipated to complete by December 2021.
Gevo, Inc. (NASDAQ:GEVO) will participate in a Water Tower Research Fireside Chat on August 18, 2021, at 4:00 PM EDT. The discussion will cover progress on the Net-Zero 1 Capex Scope and financial projections. Attendance requires prior registration due to limited slots, although the event will be available for replay post-presentation. Gevo aims to produce low-carbon fuels from renewable resources, contributing to reducing lifecycle greenhouse gas emissions. The company leverages innovative technology to create sustainable energy solutions, enhancing its position in the low-carbon market.
Gevo, Inc. (NASDAQ: GEVO) announced binding agreements with BP Canada Energy and BP Products for its NW Iowa RNG project, which will produce approximately 355,000 MMBtu of renewable natural gas (RNG) annually starting in early 2022. This RNG will be sold in California through Clean Energy Fuels Corp. Gevo anticipates cash distributions of $9 to $16 million per year post-stabilization and plans to use RNG for its Net-Zero projects starting 2024. The collaboration with BP aims to meet the increasing demand for low-carbon fuel.
Gevo, Inc. (NASDAQ: GEVO) has resumed production at its Luverne, Minnesota facility, focusing on fuel-grade renewable isobutanol (IBA). This IBA will be used for existing contracts in sustainable aviation fuel and renewable gasoline, alongside exploration of specialty markets. The company is also hiring more staff, aiming for 30 full-time employees. Additionally, operations at Luverne will help test processes for Gevo's future Net-Zero 1 facility in South Dakota, projected to start in 2024.
Gevo, Inc. (NASDAQ: GEVO) has appointed Jaime Guillen to its Board of Directors. Guillen brings nearly 30 years of experience across various sectors, including energy and infrastructure development. His previous roles include CEO at Alterra Partners and Managing Director at Bechtel Enterprises. CEO Dr. Patrick Gruber emphasized Guillen's expertise as crucial for advancing Gevo's Net-Zero projects. Gevo focuses on transforming renewable energy into low-carbon fuels and sustainable plastics, aiming to penetrate the growing market for low-carbon products.
Gevo, Inc. (NASDAQ: GEVO) will host a conference call on August 12, 2021, at 4:30 p.m. EDT to discuss its Q2 financial results for the period ending June 30, 2021. The company aims to update stakeholders on significant corporate developments. To join the call, dial 1 (833) 729-4776 within the U.S. or 1 (830) 213-7701 outside the U.S. A replay will be accessible two hours post-call. Gevo focuses on producing low-carbon renewable fuels and hydrocarbons with a mission to yield net-zero emissions through patented technology.
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