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.
Gevo, Inc. (NASDAQ: GEVO) has appointed Dr. Paul Bloom as Chief Technology Officer and Chief Innovation Officer. Dr. Bloom brings over 20 years of experience from Archer Daniels Midland Company, where he held roles in sustainable materials and technology commercialization. CEO Dr. Patrick R. Gruber expressed optimism about Dr. Bloom's expertise in developing renewable chemicals and materials. Gevo aims to produce low-carbon fuels and sustainable plastics, leveraging its patented technology to create a significant market presence and reduce greenhouse gas emissions.
Gevo, Inc. (NASDAQ: GEVO) reported its fourth-quarter 2020 financial results. Revenue dropped to $0.5 million from $6.9 million in Q4 2019, attributed to the cessation of ethanol production at the Luverne Facility. The company disclosed a loss from operations of ($7.0) million and a net loss of ($18.1) million for the quarter. Despite these losses, Gevo emphasizes the progress of its Net-Zero 1 Project in South Dakota, targeting a net-zero greenhouse gas footprint. It ended the quarter with $78.3 million in cash and no significant debt, with plans to finalize financing for Net-Zero 1 in H1 2022.
Gevo, Inc. (NASDAQ: GEVO) announced a Water Tower Research Fireside Chat featuring CEO Dr. Patrick Gruber and CFO Lynn Smull on March 18, 2021, at 2:30 pm EST. The discussion will focus on Gevo's business updates, particularly its financing strategies. Interested participants must register for the live event, which also offers replay access post-event. Gevo aims to revolutionize renewable energy and aims to produce low-carbon fuels and plastics with reduced greenhouse gas emissions, leveraging patented technology for sustainable feedstocks.
Gevo, Inc. (NASDAQ: GEVO) has rescheduled its fourth quarter 2020 financial results release to March 17, 2021, at 4:30 p.m. EST. The original date was March 18, 2021. Investors can participate in the conference call by dialing (833) 729-4776 or (830) 213-7701 with access code 3178466#. A replay will be available two hours after the call ends, accessible through Gevo's website. Gevo is focused on transforming renewable energy into energy-dense hydrocarbons, aiming for low-carbon liquid fuels and sustainable plastics.
Gevo (NASDAQ: GEVO) has signed a memorandum of understanding (MOU) with HCS Group to establish a renewable hydrocarbon facility in Speyer, Germany. This project aims to produce about 60 kMT (approximately 22 million gallons) of low-carbon sustainable aviation fuel (SAF) annually by the end of 2024. The facility will leverage HCS Group's existing infrastructure to expedite market entry and fulfill sustainability goals. Both companies seek to drive the SAF market in Europe, marking a significant collaboration to reduce greenhouse gas emissions.
Gevo has amended its agreement with Scandinavian Airlines System (SAS) to increase the minimum purchase obligation for sustainable aviation fuel (SAF) to 5 million gallons per year. This amendment signifies a substantial commitment from SAS, projecting a value of over $100 million over the agreement's duration. Supply is expected to commence in 2024 from Gevo's Net-Zero 2 Project. The deal aligns with SAS's goal to reduce emissions by 25% by 2025, reinforcing Gevo's position in the renewable fuel market.
Gevo, Inc. (NASDAQ: GEVO) announced participation in the Water Tower Research Fireside Chat Series on February 23, 2021, at 2:30 PM EST. Executives Dr. Patrick Gruber and Timothy Cesarek will discuss Gevo’s business pipeline and contracts related to net-zero emissions.
Interested participants must register due to limited space; the event will also be available for replay post-presentation. Gevo focuses on transforming renewable energy into drop-in transportation fuels, aiming for substantial reductions in greenhouse gas emissions while maintaining performance comparable to fossil fuels.
Gevo, Inc. (NASDAQ: GEVO) will host a conference call on March 18, 2021, at 4:30 p.m. EST to discuss its fourth-quarter financial results for the period ending December 31, 2020. Interested participants can join by calling (833) 729-4776 (U.S.) or (830) 213-7701 and using access code 3178466#. A replay will be available two hours after the call at Gevo's website. Gevo aims to leverage renewable energy to create low-carbon fuels and contribute to reducing greenhouse gas emissions.
Gevo, Inc. (NASDAQ: GEVO) announced significant business initiatives for 2021, focusing on renewable energy production through its Net-Zero Projects. The company is developing Net-Zero 1 in South Dakota, aiming to produce 45MGPY of low-carbon liquid hydrocarbons, alongside high-protein animal feed. Gevo secured $321.7 million from a recent stock offering, boosting its cash to $535 million with negligible debt. The capital cost for Net-Zero 1 is projected between $700-$800 million. Gevo also plans additional contracts and strategic partnerships to support future projects.
Gevo, Inc. (Nasdaq: GEVO) has completed a registered direct offering of 43,750,000 shares at $8.00 each, resulting in net proceeds of approximately $321.7 million. The funds will be allocated towards capital projects, working capital, and corporate purposes. H.C. Wainwright & Co. acted as the exclusive placement agent, while Citigroup served as the capital markets advisor. The shares were issued under an effective registration statement with the SEC, and further details can be accessed via their website.
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