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 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.
Gevo, Inc. (NASDAQ: GEVO) has supplied sustainable aviation fuel (SAF) to Avfuel Corporation, marking a significant step toward carbon neutrality in aviation. This delivery is notable as it is the first SAF load for resale at King County International Airport, serving Leading Edge Jet Center. Gevo aims to expand its partnerships and raise awareness about cleaner burning fuels. The company focuses on producing low-carbon jet fuel, gasoline, and diesel, utilizing renewable resources, with an emphasis on reducing greenhouse gas emissions.
Gevo, Inc. (NASDAQ: GEVO) reported a significant drop in revenue for Q3 2020, totaling $0.2 million, down from $6.1 million in Q3 2019, primarily due to COVID-19 impacts and the suspension of ethanol production. The company ended the quarter with cash of $80.6 million and plans to repay its outstanding debt of $12.7 million by year-end. Despite the challenges, Gevo secured a major offtake agreement with Trafigura, enhancing its offtake agreements to 48 million gallons per year, valued at approximately $1.5 billion over the contract's life. The company expects ongoing progress in project financing.
Gevo, Inc. (NASDAQ: GEVO) will host a conference call on November 10, 2020, at 4:30 p.m. EST to discuss its financial results for the third quarter ending September 30, 2020. The call will provide updates on recent corporate highlights as well. Participants can join by dialing (833) 729-4776 for U.S. callers or (830) 213-7701, using access code 4631139#. A replay will be available shortly after the call and archived on Gevo's website.
Gevo is focused on producing low-carbon renewable fuels and sustainable alternatives to traditional fossil fuels, aiming to reduce greenhouse gas emissions.
Gevo, Inc. (NASDAQ: GEVO) has entered a joint development agreement with TOTAL Cray Valley to upgrade fusel oils from ethanol production into renewable Isoamylene, with applications in resins, pesticides, pharmaceuticals, and more. This collaboration leverages Gevo’s technologies to convert low-value fusel oils into valuable renewable materials, tapping into approximately 2.5 million tons of bio-based feedstock. The initiative aligns with Gevo’s goal of advancing sustainable chemicals while contributing to low carbon and reducing greenhouse gas emissions in fuel production.
Gevo, Inc. (NASDAQ: GEVO) will participate in the Water Tower Research Fireside Chat on October 8, 2020, at 12:00 pm EDT. CEO Dr. Patrick Gruber will discuss Project Finance and Gevo's Growth Strategy. Interested participants must register through the provided link, although registration is limited. The event will be available for replay afterward.
Gevo is focused on creating low-carbon fuels and sustainable alternatives, with patented technology for producing gasoline, jet fuel, and diesel with significantly reduced greenhouse gas emissions.
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