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) reported its Q2 2024 financial results and corporate highlights. Key points include:
1. Net-Zero 1 project progressing with DOE loan guarantee process, targeting financial close by end of 2024.
2. RNG project achieved record production volumes, with 22% increase compared to Q2 2023.
3. Verity subsidiary expanding AI integration and partnerships.
4. Q2 2024 financial highlights:
- Cash, cash equivalents, and restricted cash: $315.3 million
- Combined revenue and interest income: $9.4 million
- Loss from operations: $24.0 million
- Non-GAAP adjusted EBITDA loss: $15.3 million
- Net loss per share: $0.09
The company continues its stock repurchase program and expects significant future growth in RNG project income and adjusted EBITDA.
Gevo Inc (NASDAQ: GEVO) has announced its participation in an upcoming virtual investor event. Dr. Eric Frey, the company's Vice President of Finance and Strategy, will be representing Gevo at the Renmark Virtual Non-Deal Roadshow Series on Tuesday, July 30th at 12:00 pm ET.
This virtual meeting provides an opportunity for investors and interested parties to engage with Gevo's leadership and gain insights into the company's operations and strategy. Participants must register for the event using the provided link to attend. This initiative demonstrates Gevo's commitment to investor relations and transparency in its communications with the financial community.
Gevo (NASDAQ: GEVO) has announced it will host a conference call on August 8, 2024, at 4:30 p.m. ET to report its financial results for the second quarter ended June 30, 2024. Interested parties can register for the live call through a provided weblink. After registration, participants will receive a dial-in number and pin. An audio-only option is also available via a separate weblink. A webcast replay will be accessible two hours after the conference call ends on August 8, 2024, in the Investor Relations section of Gevo's website at www.gevo.com.
Gevo, Inc. (NASDAQ: GEVO) has reported record production levels in its renewable natural gas (RNG) business. In May, the company achieved an annualized production rate of approximately 402,000 MMBtu, surpassing its previous record of 401,000 MMBtu in March. Despite a slight disruption due to flooding in Rock Valley, Iowa, in June, Gevo still produced 29,082 MMBtu of RNG and expects to meet its annual production target of approximately 400,000 MMBtu.
Gevo's RNG is produced by capturing methane biogas from manure digestors across three dairy farms in northwest Iowa. The company is currently operating under a California Air Resources Board (CARB) temporary pathway with a carbon intensity score of -150 gCO2e/MJ. Gevo has applied for a permanent score of -350 gCO2e/MJ, which is expected to be received by the end of 2024 and could potentially double the stand-alone non-GAAP cash EBITDA generated by its RNG business.
Gevo announced that Dr. Chris Ryan, President and COO, will participate in a Renmark Virtual Non-Deal Roadshow on May 15 at 12:00 pm ET.
Dr. Ryan will discuss Gevo's implementation of purpose-built plant designs in its Sustainable Aviation Fuel (SAF) projects and updated guidance on Net Zero 1 spend and project financing strategy.
Investors interested in the event can register online.
Gevo, Inc. (NASDAQ: GEVO) partners with Verity Holdings, , and ClearFlame Engine Technologies, Inc. to collaborate on decarbonizing the road freight transportation market in the United States. The collaboration aims to trace carbon intensity from crops grown on U.S. farms to the consumption of biofuels in ClearFlame-equipped trucks. By utilizing Verity's carbon accounting software, the parties intend to track environmental attributes from field-to-fleet, enabling the delivery of low-carbon ethanol for use by ClearFlame and their customers, ultimately leading to greenhouse gas emissions reductions of 42%.
Gevo, Inc. (NASDAQ: GEVO) reported its first quarter 2024 financial results, highlighting share repurchases, reduced projected spend on Net-Zero 1 project, positive cash EBITDA from RNG project, advancements in Verity and ETO technology. The company ended the quarter with $340.6 million in cash, sold 88,967 MMBtu of RNG generating $4.0 million in revenue, and incurred a loss from operations of $23.1 million. Gevo continues to focus on clean energy projects, with promising outcomes and financial stability.
Gevo, Inc. (NASDAQ: GEVO) responds to new guidance from the Treasury Department regarding carbon accounting for sustainable aviation fuel (SAF). The updated Argonne GREET model recognizes carbon abatement from climate-smart agriculture and carbon capture and storage, which Gevo plans to leverage for net-zero or carbon-negative SAF. Gevo's CEO, Dr. Patrick R. Gruber, emphasizes the importance of climate-smart agriculture and decarbonization methods like CCS in Gevo's business model. Gevo has been a leader in developing fuels and products to support transportation decarbonization for nearly two decades and advocates for using the GREET model for carbon accounting in the SAF supply chain. Gevo's subsidiary, Verity, uses distributed ledger technology for accurate emission reduction accounting from on-farm practices. Gevo anticipates that the Administration's actions will support future SAF tax credits, emphasizing a science-based approach to ensure biofuel producers play a vital role in decarbonizing the aviation industry.
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