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) will host a live webcast fireside chat with CEO Dr. Patrick Gruber on January 25, 2021, at 3:00 pm EST. The discussion will explore Net-Zero Projects, which focus on producing energy-dense liquid hydrocarbons through renewable energy sources. These projects aim to achieve net-zero greenhouse gas emissions across the lifecycle of the liquid fuel. Interested participants can register for the event via a provided link, with limited live attendance and a replay option available post-event.
Gevo announced a registered direct offering of 43,750,000 shares of common stock at $8.00 per share, expected to close on January 22, 2021. The offering will generate approximately $350 million in gross proceeds, which Gevo intends to use for capital projects, working capital, and general corporate purposes. H.C. Wainwright & Co. is the exclusive placement agent, while Citigroup acts as a capital markets advisor. The offering is made under an automatic shelf registration statement filed with the SEC on January 19, 2021.
Gevo, Inc. (NASDAQ: GEVO) announced that Frances H. Arnold, Co-Founder and Nobel-Prize recipient, has been appointed to President-Elect Joe Biden’s Science Team. This team aims to leverage scientific advancements to tackle significant global challenges, including climate change. CEO Patrick R. Gruber highlighted the importance of Arnold’s work in developing crucial enzymes for Gevo’s technology, which transforms renewable energy into low carbon transportation fuels. Gevo's mission focuses on creating sustainable alternatives to reduce greenhouse gas emissions.
Gevo, Inc. (NASDAQ: GEVO) announced that Dr. Patrick Gruber, CEO, will join the Water Tower Research Fireside Chat on January 21, 2021, at 3:00 PM EST. The discussion will focus on Net-Zero Projects, which aim to produce energy-dense liquid hydrocarbons using renewable energy sources and Gevo's proprietary technology. This approach could achieve net-zero greenhouse gas emissions throughout the lifecycle of the fuel. Registration for the live event is limited, but a replay will be available post-event.
Gevo, Inc. (NASDAQ: GEVO) has successfully paid off its entire outstanding balance of $12.7 million related to its convertible senior secured notes issued to Whitebox Advisors LLC. The note holders converted the principal amount into 5,672,654 shares of common stock, reducing Gevo's secured debt balance to zero and saving the company $12.7 million in cash. This marks a strengthened balance sheet for Gevo, as noted by CFO Lynn Smull, highlighting the company's improved financial position.
Gevo, Inc. (NASDAQ: GEVO) announced the engagement of Koch Project Solutions, LLC for front-end engineering, design, and project execution management related to their expansion projects, which are being financed by Citigroup Global Markets. This partnership aims to accelerate the development of low-carbon hydrocarbons derived from renewable resources. The CEO emphasizes the goal of significantly reducing tailpipe emissions. Gevo's proprietary technology allows the production of liquid transportation fuels with zero carbon emissions potential, responding to the growing demand for sustainable alternatives.
Gevo has optioned the right to purchase approximately 239 acres of land near Lake Preston, SD, fulfilling initial milestones for a contract with Trafigura Trading LLC. The planned production facility aims to produce around 45 million gallons annually of jet fuel and renewable gasoline products. CEO Patrick R. Gruber highlighted the site's potential for large-scale production and future expansion. A decision on purchasing the site will be made later, contingent on financing. This development aligns with Gevo’s commitment to providing low-carbon renewable fuels.
Gevo, Inc. (NASDAQ: GEVO) applauds United Airlines' commitment to achieving 100% reduction in greenhouse gas emissions by 2050, highlighting the importance of sustainable aviation fuel (SAF) in this endeavor. Gevo's SAF is already in commercial use, including flights powered by United. CEO Patrick Gruber emphasizes that SAF can achieve a net zero or negative GHG profile, benefiting the airline industry, US farmers, and the environment. Gevo aims to offer low-carbon fuels to address greenhouse gas emissions and is advancing in renewable energy usage for production.
Gevo, Inc. (NASDAQ: GEVO) will participate in the Water Tower Research Fireside Chat Series on December 15, 2020, at 3:00 pm EST. CEO Dr. Patrick Gruber will discuss the topic of storing renewable energy through the creation of liquid hydrocarbons. Interested participants must register via the provided link, with live event access limited but available for replay afterward. Gevo aims to commercialize low-carbon fuels and sustainable plastics, contributing to reduced greenhouse gas emissions and addressing the market need for eco-friendly alternatives.
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