Gevo Makes First Delivery of Certified Carbon Credits to Biorecro, Unlocking Value from Carbon as a Co-Product

Rhea-AI Summary

Gevo (NASDAQ: GEVO) delivered its first certified carbon dioxide removal credits (CORCs) under the Puro.earth standard to Biorecro North America, marking the first fulfillment under a multi-year agreement announced in September.

The agreement is expected to generate approximately $26 million in revenues over five years. Gevo operates a Class VI carbon-storage well with 1 million tons/year capacity and is currently using about 165,000 tons/year; the well has captured more than 550,000 tons of CO2 since June 2022 and is certified for thousand-plus-year permanence by Puro.earth.

Positive

• Multi-year agreement expected to generate $26 million over five years
• Class VI well certified for thousand-plus-year permanence by Puro.earth
• Captured > 550,000 tons of CO2 since June 2022
• Only producer of CORCs from CCS associated with ethanol production

Negative

• Current injection uses ~16.5% of 1M t/yr capacity (165,000 t/yr)
• Revenue figure described as expected, not guaranteed

Insights

Carbon commercialization analyst

Gevo secured first delivery of certified CORCs, starting a repeatable carbon‑credit revenue stream worth $26 million over five years.

Gevo has converted captured CO2 from its Class VI storage well into certified carbon dioxide removal credits (CORCs) under the Puro.earth standard and completed the first delivery to Biorecro. The company reports the well has captured more than 550,000 tons of CO2 since June 2022 and currently uses about 165,000 tons per year of a 1 million-ton per year capacity, creating a new, monetizable co‑product alongside ethanol, protein, vegetable oil, and tax credits.

The announced multi‑year agreement that this delivery fulfills is expected to generate approximately $26 million in revenues over five years; that figure gives a clear, contract‑backed cash flow expectation but is limited in scale relative to large industrial revenues. Key dependencies include sustained Puro.earth certification integrity, continued operational performance of the Class VI well, and repeatable demand from credit buyers; any disruption to those items would affect the revenue stream. Watch the contract expansion option and subsequent delivery cadence over the next five years as the most direct indicators of whether carbon credit sales become a material and repeatable revenue pillar for the company.

Gevo expands its carbon business with the groundbreaking delivery, adding a new stream of repeatable revenue now including carbon removal credits (CORCs) in addition to ethanol, protein, vegetable oil, and tax credit sales

ENGLEWOOD, Colo., Nov. 03, 2025 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) announced the production and delivery of certified carbon dioxide removal credits, known as CORCs under the high-integrity Puro.earth standard, to Biorecro North America, LLC, marking a major milestone in the commercialization of durable carbon removal from its North Dakota operations. This delivery is the first fulfillment against the multi-year agreement announced in September, which is expected to generate approximately $26 million in revenues for Gevo over five years with the option to expand the volumes in the future. Gevo is the only producer of CORCs from carbon capture and sequestration associated with ethanol production. As demand for high-integrity carbon credits grows, Gevo is positioning itself as a market leader and is delivering high-value carbon abatement to global customers.

“Our Class VI carbon-storage well, with 1 million tons per year of capacity, of which we are using about 165,000 tons per year, has shown outstanding performance since it started in June of 2022,” says Alex Clayton, chief business development officer at Gevo. “Since then, the well has captured more than 550,000 tons of CO₂. Puro.earth has certified the well as a thousand-plus-year permanence well, the only certification of this type for ethanol production in the world. CORCs are an up-and-coming product in a growth market and provide valuable co-product revenue for our operations.”

“We want to maximize the value for the carbon that we remove or abate,” says Dr. Paul D. Bloom, chief business officer for Gevo. “By choosing and optimizing where we capture value from carbon, either selling the carbon as CORCs separately from ethanol, or by bundling the carbon as a credit to be sold with the ethanol into a low carbon fuels market, we can maximize our returns.”

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 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 carbon capture, utilization, and sequestration (“CCUS”) facility and Class VI carbon-storage well. We also own and operate one of the largest dairy-based 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.

About Biorecro
Biorecro is a global project developer with over 15 years of experience focusing on BECCS. Biorecro integrates BECCS operations into existing industrial facilities, such as biomass power, combined heat and power, pulp and paper, as well as bioenergy facilities including ethanol and biogas production. By capturing and storing biogenic carbon already being emitted, Biorecro is able to bring carbon removal to the market at scale, a powerful tool in the fight against climate change. Biorecro’s project development is based on learnings from dozens of BECCS projects across several continents over the past 15 years. Currently, Biorecro’s project development is ongoing together with partners on multiple projects throughout Europe, North America, and globally.

For more information, see www.biorecro.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 financial aspects of the agreement with Biorecro; the expected revenues for Gevo; Biorecro and its business system; Puro.earth and its certification process, 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

Biorecro Media Contact
Henrik Karlsson
Founder and CEO
Press@biorecro.com

FAQ

What did Gevo announce on November 3, 2025 (GEVO)?

Gevo delivered its first Puro.earth-certified CORCs to Biorecro under a multi-year deal announced in September.

How much revenue is the Gevo–Biorecro agreement expected to generate for GEVO?

The multi-year agreement is expected to generate approximately $26 million for Gevo over five years.

What is the capacity and current use of Gevo's Class VI carbon-storage well (GEVO)?

The well has 1 million tons/year capacity and is currently using about 165,000 tons/year.

How much CO2 has Gevo's well captured since it started in June 2022 (GEVO)?

The well has captured more than 550,000 tons of CO2 since June 2022.

What makes Gevo's CORCs notable in the carbon market (GEVO)?

Gevo is described as the only producer of CORCs from carbon capture and sequestration associated with ethanol production.

How does Gevo plan to monetize captured carbon with its ethanol operations (GEVO)?

Gevo may sell carbon as standalone CORCs or bundle carbon credits with ethanol into low-carbon fuel markets to optimize returns.