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 reported Q3 2024 financial results with combined revenue and interest income of $5.8 million. The company secured a $1.6 billion DOE loan guarantee conditional commitment for its Net-Zero 1 project. Key developments include the acquisition of Red Trail Energy's ethanol and carbon capture assets, expected to contribute to positive Adjusted EBITDA in 2025. Q3 highlights: cash position of $292.9 million, RNG subsidiary revenue of $2.0 million, and net loss of $0.09 per share. The company's RNG revenue decreased due to environmental attribute inventory buildup, anticipating LCFS Program pathway approval in Q1 2025.
Gevo (NASDAQ: GEVO) has scheduled its third quarter 2024 financial results conference call for November 7, 2024, at 4:30 p.m. ET (2:30 p.m. MT). The call will cover financial performance for the quarter ended September 30, 2024. Participants can register for the live call through a provided weblink to receive dial-in details. An audio-only option is also available via a separate weblink. A webcast replay will be accessible two hours after the call concludes in the Investor Relations section of Gevo's website.
Gevo, Inc. (NASDAQ: GEVO) has received a conditional commitment for a $1.46 billion loan guarantee from the U.S. Department of Energy Loan Programs Office for its Net-Zero 1 project (NZ1) in South Dakota. This marks a significant milestone for the world's first large-scale net-zero-emissions alcohol-to-jet production facility.
The NZ1 facility in Lake Preston will produce approximately 60 million gallons of sustainable aviation fuel (SAF), 1.3 billion pounds of protein and animal feed products, and 30 million pounds of corn oil annually. The project is expected to create over 1,300 indirect jobs during construction and 100 permanent jobs at the plant, with an annual economic impact exceeding $100 million.
This conditional commitment is a important step towards finalizing the financing for NZ1, potentially attracting additional capital investments and accelerating SAF commercialization. The project aims to transform the aviation industry by providing scalable, sustainable, and economical renewable-carbon-based jet fuel.
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) has announced the sale of approximately $20 million in Investment Tax Credits generated by its Gevo NW Iowa RNG facility under the Inflation Reduction Act. This transaction provides net cash proceeds of about $17 million after fees. The RNG facility, optimized to produce 400,000 MMBtus of RNG annually, is expected to reduce greenhouse gas emissions by up to 175,000 metric tons of CO2 equivalent per year.
The sale monetizes tax credits from the facility's commercialization, improving Gevo's liquidity and ability to fund strategic sustainable aviation fuels (SAF) projects. The company continues to explore scaling opportunities for its RNG business and potential synergies with other operations. This transaction demonstrates how Gevo's focus on renewable energy optimization creates value for shareholders.
Gevo Inc (NASDAQ: GEVO) has announced that its CEO, Dr. Patrick R. Gruber, will take part in a Renmark Virtual Non-Deal Roadshow Series on Tuesday, September 24th, at 2:00 pm ET. This virtual investor meeting aims to provide an opportunity for interested parties to engage with the company's leadership.
Investors and other interested individuals can participate in this event by registering through the provided link. This virtual format allows for wider accessibility and engagement with Gevo's management, potentially offering insights into the company's operations, strategies, and future outlook.
As a leader in renewable chemicals and advanced biofuels, Gevo's participation in such events can be important for maintaining investor relations and market visibility. The non-deal nature of the roadshow suggests that while no specific transactions are being promoted, it serves as a platform for information sharing and stakeholder communication.
Gevo, Inc. (NASDAQ: GEVO) has been granted U.S. Patent No. 12,043,587 B2 for its ethanol to olefins (ETO) process by the U.S. Patent and Trademark Office. This breakthrough technology allows for the conversion of ethanol into olefins using proprietary catalyst combinations. The ETO process is designed to produce three and four carbon olefins from ethanol in a single step, potentially reducing energy consumption and capital costs in biofuel and biochemical production.
The patented process offers improved selectivity and control, making it suitable for producing both fuels and chemicals. Gevo has already licensed the technology to LG Chem for chemical production under a joint development agreement. This innovation is expected to significantly impact the production of sustainable aviation fuel (SAF) and other renewable products, furthering Gevo's mission to transition from fossil-based to renewable fuels and chemicals.
Gevo, Inc. (NASDAQ: GEVO) has announced a definitive agreement to acquire Red Trail Energy's ethanol production plant and carbon capture and sequestration (CCS) assets for $210 million. This strategic acquisition is expected to make Gevo's Adjusted EBITDA positive in 2025 and accelerate its mission to produce net-zero liquid transportation fuels and chemicals.
Key highlights include:
- 65 million gallons per year low-carbon ethanol plant
- CCS assets with 1 million metric tons annual capacity
- Synergies with Gevo's Net-Zero 1 SAF project
- Expansion of sustainable aviation fuel (SAF) production capabilities
- Retention of approximately 50 full-time employees
The transaction is expected to close by Q1 2025, subject to regulatory approvals and other conditions. Gevo plans to finance the acquisition through asset-level debt and cash from its balance sheet.
Gevo, Inc. (NASDAQ: GEVO) has announced a significant purchase agreement with Shell Global Solutions Deutschland GmbH for its low-carbon intensity fuel blendstock to be used in motorsports. This renewable blendstock, derived from sustainable feedstocks like agricultural waste, is designed to meet the demanding requirements of racing while offering enhanced net-energy storage and lower carbon emissions.
The agreement aligns with Gevo's commitment to carbon abatement and demonstrates that sustainability and peak performance can coexist in motorsports. Gevo's Chief Business Development Officer, Damien Perriman, emphasized the importance of this step towards a sustainable future, highlighting the company's role in delivering net-zero fuels and chemicals across various industries.
Gevo, Inc. (NASDAQ: GEVO) has released a new report by Charles River Associates highlighting the economic and environmental benefits of sustainable aviation fuel (SAF) production. The study focuses on Gevo's planned Net-Zero 1 (NZ1) alcohol-to-jet (ATJ) SAF facility in South Dakota. Key findings reveal that every $1 from federal tax credits for ATJ SAF yields $4-6 in total quantified benefits.
The report outlines significant advantages, including:
- $2/gallon value from reduced lifecycle GHG emissions
- $0.12/gallon in avoided health impacts
- $0.90/gallon value from climate-smart agriculture practices
- $116 million annual value added to the local economy
- 836 jobs created (100 at the plant, 736 locally)
- $23 million in annual federal tax revenue
The NZ1 facility is expected to bolster energy security, support local economies, and contribute to the aviation industry's net-zero goals.
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