Gevo Achieves Industry Milestone: 500,000 High-Quality Carbon Removal Credits Issued from Gevo North Dakota Plant

Gevo (NASDAQ: GEVO) announced that its Gevo North Dakota plant has issued more than 500,000 engineered carbon-dioxide removal certificates (CORCs) since CCS operations began in June 2022.

Rhea-AI Summary

Gevo (NASDAQ: GEVO) announced that its Gevo North Dakota plant has issued more than 500,000 engineered carbon-dioxide removal certificates (CORCs) since CCS operations began in June 2022. The site is described as the largest producer of engineered carbon removal credits and the only ethanol CCS project issuing Puro.earth-certified certificates with thousand-year permanence. Gevo's GND plant recently received an "A" rating from BeZero Carbon. The company highlighted market context noting the voluntary carbon dioxide removal market has surpassed $11 billion in purchases but only 2.8% of those purchases have been delivered.

Positive

• Issued > 500,000 CORCs since June 2022
• GND plant described as largest engineered carbon removal producer
• BeZero Carbon upgraded GND CCS to an A rating

Negative

• Only 2.8% of voluntary CDR purchases have been delivered
• CCS activities at GND began in June 2022 (recent operational history)

Argus Jan 21 session

+3.08% close to close Open Argus

Details

News Market Reaction – GEVO

On Jan 21, the day this news came out, GEVO closed 3.08% above the previous close.

Data tracked by StockTitan Argus for the Jan 21 session.

Market Context

This announcement underscores Gevo North Dakota’s scale in engineered carbon removal, with more than...

Analysis

This announcement underscores Gevo North Dakota’s scale in engineered carbon removal, with more than 500,000 CORCs issued and certification under Puro.earth standards emphasizing thousand-year permanence. It complements earlier recognition, such as the BeZero Carbon “A” rating and the facility’s 1 million tons/year Class VI storage well highlighted in recent news. Investors may watch future CORC issuance, contract activity in the $11 billion CDR market, and how these volumes translate into revenue alongside ongoing net losses.

Key Figures

Engineered CORCs issued: more than 500,000 CDR market size: $11 billion Delivered CDR share: 2.8 percent +5 more

Engineered CORCs issued

more than 500,000

Gevo North Dakota plant since CCS activities began June 2022

CDR market size

$11 billion

Carbon dioxide removal credits market cited from CDR.fyi

Delivered CDR share

2.8 percent

Portion of total carbon dioxide removal credit purchases delivered

Q3 2025 revenue

$42,710 thousand

Total operating revenue vs $1,965 thousand a year ago

Q3 2025 net loss

$7,954 thousand

Net loss for quarter ended September 30, 2025

9M 2025 revenue

$115,232 thousand

Total revenue for nine months ended September 30, 2025

Cash & equivalents

$72,598 thousand

Cash and cash equivalents as of September 30, 2025

GND acquisition price

$210,324 thousand

Purchase price for Red Trail Energy (now Gevo North Dakota)

Historical Context

5 past events · Latest: Jan 16

5 events

1. Jan 16

   Carbon leadership hire

   24h Move

   -0.5%

   Creation of Chief Carbon Officer role to drive carbon market expansion.

2. Jan 14

   IP/patent expansion

   24h Move

   +1.5%

   New U.S. patent for ethanol-to-olefins process enabling lower-cost fuels.

3. Jan 05

   Operations leadership

   24h Move

   +2.4%

   Hiring EVP operations and named successor to COO to support growth.

4. Dec 18

   Carbon rating upgrade

   24h Move

   +3.8%

   BeZero Carbon upgraded GND facility CORCs to an “A” rating.

5. Dec 15

   CEO succession

   24h Move

   -5.2%

   Planned CEO retirement and appointment of Paul Bloom as incoming CEO.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

carbon capture and storage, CCS, Puro.earth, carbon-dioxide removal certificates

4 terms

carbon capture and storage technical

"the only ethanol carbon capture and storage project issuing Puro.earth-certified"

Carbon capture and storage is a set of technologies that remove carbon dioxide from industrial emissions or the air and keep it isolated, usually by compressing it and injecting it deep underground for long-term storage. For investors, it matters because it can lower a company's regulatory and climate risk, create new revenue or cost opportunities, and influence future demand for energy, materials, and services—think of it as a vacuum and lockbox that helps firms meet emissions limits and avoid penalties or lost market share.

CCS technical

"since carbon capture and storage (“CCS”) activities began in June of 2022"

Carbon capture and storage (CCS) is a set of technologies that trap carbon dioxide produced by power plants, factories or industrial processes, then transport and store it deep underground or turn it into usable products. Think of it like catching smoke from a chimney and burying or repurposing it so it doesn't warm the atmosphere. Investors watch CCS because it can lower regulatory and carbon costs, create new revenue from credits or products, and influence the long-term value of energy and industrial companies.

Puro.earth regulatory

"the only ethanol carbon capture and storage project issuing Puro.earth-certified certificates"

puro.earth is an online marketplace and verification platform that issues and trades carbon removal credits for technologies that permanently remove and store carbon dioxide, such as biochar or enhanced mineralization. Think of it as a certified auction house where sellers prove a product’s authenticity and buyers pay for a documented reduction in atmospheric CO2; this matters to investors because demand for verified removal credits can create recurring revenue streams, affect company valuations, and shape regulatory and corporate climate-risk exposure.

carbon-dioxide removal certificates technical

"issued more than 500,000 engineered carbon-dioxide removal certificates, known as CORCs"

A carbon-dioxide removal certificate is a documented, third-party-verified claim that a specific amount of CO2 was taken out of the atmosphere and stored or permanently neutralized by a project, like a receipt showing the amount removed. Investors care because these certificates can be sold or counted toward regulatory or corporate climate goals, creating revenue streams and affecting the financial value and risk profile of projects tied to carbon removal.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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The Gevo North Dakota site is believed to be the largest producer of engineered carbon removal credits and the only ethanol carbon capture and storage project issuing Puro.earth-certified certificates with thousand-year permanence

ENGLEWOOD, Colo., Jan. 21, 2026 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO), a leader in renewable fuels and chemicals and carbon management, is pleased to announce that it’s Gevo North Dakota plant has issued more than 500,000 engineered carbon-dioxide removal certificates, known as CORCs, since carbon capture and storage (“CCS”) activities began in June of 2022.¹

“Gevo designed its carbon business to operate with integrity at scale across regulated low carbon fuel markets and voluntary markets,” says Alex Clayton, Chief Carbon Officer for Gevo. “By applying Puro.earth’s industry-leading standards for CCS and maintaining strict controls to prevent double-counting, we have been able to deliver high-quality carbon removal consistently and credibly. Reaching 500,000 CORCs demonstrates that engineered carbon removal can be both scalable and reliable.”

“Reaching half a million CORCs is a significant milestone, and we congratulate Gevo on being the first carbon removal supplier to achieve this level of scale,” said Jan-Willem Bode, President of Puro.earth. “It demonstrates that large-volume, high-integrity carbon removal certified under the robust Puro Standard is operational today."

Gevo is at the forefront of an industry that we believe is only beginning to recognize what true scale and quality can be. Recently, GND’s carbon capture and storage efforts received an upgrade to an “A” rating from BeZero Carbon Ltd., a preeminent global carbon rating agency. In a growing market that, according to CDR.fyi, has eclipsed $11 billion for carbon dioxide removal credits just 2.8 percent of those purchases have been delivered. Our GND plant delivers a level of scale, operational excellence, and consistent high‑quality production that sets the benchmark for our industry.

About Gevo
Gevo is a next-generation diversified energy company committed to fueling America’s future with cost-effective, drop-in fuels that contribute to energy security, abate carbon, and strengthen rural communities to drive economic growth. Gevo’s innovative technology can be used to make a variety of renewable products, including sustainable aviation fuel (“SAF”), motor fuels, chemicals, and other materials that provide U.S.-made solutions. Gevo’s business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. Gevo owns and operates an ethanol plant with an adjacent CCS facility and Class VI carbon-storage well. We also own and operate one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States, turning by-products into clean, reliable energy. Additionally, Gevo developed the world’s first production facility for specialty alcohol-to-jet (“ATJ”) fuels and chemicals operating since 2012. Gevo is currently developing the world’s first large-scale ATJ facility to be co-located at our North Dakota site. Gevo’s market-driven “pay for performance” approach regarding carbon and other sustainability attributes helps deliver value to our local economies. Through its Verity subsidiary, Gevo provides transparency, accountability, and efficiency in tracking, measuring, and verifying various attributes throughout the supply chain. By strengthening rural economies, Gevo is working to secure a self-sufficient future and to make sure value is brought to the market.

For more information, see www.gevo.com.

Forward Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, the expansion of Gevo’s carbon business, the markets and demand for carbon dioxide removal credits, and other statements that are not purely statements of historical fact. These forward-looking statements are made based on the current beliefs, expectations, and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2024 and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Gevo Media Contact
Heather L. Manuel
VP, Stakeholder Engagement & Partnerships
PR@gevo.com

Gevo IR Contact
Eric Frey
VP of Finance & Strategy
IR@Gevo.com

¹ Gevo North Dakota was previously known as Red Trail Energy and was purchased by Gevo in January 2025.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What milestone did Gevo (GEVO) announce on January 21, 2026?

Gevo announced its North Dakota plant issued more than 500,000 CORCs since CCS began in June 2022.

What is a CORC and which standard certifies Gevo's credits (GEVO)?

A CORC is an engineered carbon-dioxide removal certificate; Gevo's CORCs are certified under the Puro.earth standard with thousand-year permanence.

How did BeZero Carbon rate Gevo's North Dakota CCS project (GEVO)?

BeZero Carbon upgraded the Gevo North Dakota CCS efforts to an A rating.

What market context did Gevo cite about carbon dioxide removal demand?

Gevo noted the voluntary CDR market has topped $11 billion in purchases but only 2.8% of those purchases have been delivered.

Does Gevo claim the North Dakota plant is unique among ethanol CCS projects (GEVO)?

Yes; Gevo states the plant is the only ethanol CCS project issuing Puro.earth-certified certificates with thousand-year permanence.