Gevo North Dakota Awarded “A” Rating from BeZero Carbon, Affirming its High-Quality Carbon Removal Credits

Rhea-AI Summary

Gevo (NASDAQ: GEVO) announced that BeZero Carbon upgraded its Gevo North Dakota (GND) carbon capture facility to an “A” rating on Dec 18, 2025. The upgrade applies to GND’s technology-based carbon dioxide removal (CDR) credits, issued as CORCs under the Puro.earth Geologically Stored Carbon methodology with thousand-year permanence.

Management highlighted a Class VI carbon-storage well operating since June 2022 with 1 million tons/year capacity, local feedstock sourcing within 75 miles, and use of Gevo’s Verity MRV platform to document sustainable agriculture practices.

Positive

• BeZero “A” rating for Gevo North Dakota
• 1 million tpy Class VI carbon-storage well capacity
• Largest producer of technology-based CDR credits issuing thousand-year permanence CORCs
• Verity MRV platform for upstream agriculture tracking

Negative

• None.

Key Figures

CO2 storage capacity 1 million tons per year Capacity of Class VI carbon-storage well at Gevo North Dakota

Feedstock radius 75 miles Most corn feedstock sourced within this distance of facility

Permanence duration thousand-year permanence CORCs issued under Puro.earth’s Geologically Stored Carbon methodology

CO2 storage start date June 2022 Class VI carbon-storage well performance since start date

Market Reality Check

$2.16 Last Close

Volume Volume 2192216 vs 20-day average 2809160, indicating subdued trading ahead of the rating news. normal

Technical Price 2.09 is trading above the 200-day MA at 1.61 before this announcement.

Peers on Argus 1 Down

GEVO’s pre-news move of -2.34% occurred while key peers were mixed: MNTK up 1.06%, AMTX down 2.86%, CLMT down 1.12%, LOOP down 2.67%, LWLG down 1.33%. Momentum scanner only flagged ALTO, down 4.21% without news, suggesting stock-specific rather than broad sector dynamics.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 15	Leadership transition	Neutral	-5.2%	Orderly CEO succession plan and governance changes outlined.
Nov 18	Partnership news	Positive	+2.1%	Collaboration to develop new oral health treatments.
Nov 10	Q3 2025 earnings	Positive	-3.2%	Strong revenue growth and second quarter of positive Adjusted EBITDA.
Nov 05	Tax credit sale	Positive	+2.4%	Sale of remaining 2025 Section 45Z credits totaling $52M for the year.
Nov 04	Asset sale	Positive	-7.0%	Sale of Luverne ethanol facility while retaining isobutanol capacity.

Pattern Detected

Across recent events, GEVO often showed negative price reactions to objectively positive or neutral news, with 3 divergences versus 2 aligned moves.

Recent Company History

Over the last few months, GEVO has reported several notable developments. Leadership succession was outlined on Dec 15, 2025, with Paul Bloom set to become CEO on April 1, 2026. Q3 2025 results on Nov 10 showed $43.7M revenue, a $3.7M operating loss, and positive Adjusted EBITDA of $6.7M. The company monetized Section 45Z credits, reaching $52M for 2025, and sold its Luverne ethanol facility while retaining isobutanol assets. Today’s upgraded carbon credit rating ties directly into the carbon and tax-credit monetization theme around Gevo North Dakota.

Market Pulse Summary

This announcement highlights an upgraded BeZero Carbon “A” rating for Gevo North Dakota’s carbon removal credits, reinforcing the project’s positioning in voluntary carbon markets. The facility’s Class VI well, with 1 million tons per year capacity and thousand-year permanence credits, ties into earlier moves monetizing clean fuel tax credits. Investors may watch how CORC demand, rating stability, and execution of the Verity MRV platform influence future revenue from carbon-related co-products.

Key Terms

carbon capture and storage technical

"facility that has carbon capture and storage to an “A” rating."

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.

voluntary carbon markets financial

"Gevo is a pioneer in the voluntary carbon markets (“VCM”) focused on the production"

A voluntary carbon market is a marketplace where companies, investors and individuals buy and sell credits that each represent one metric ton of greenhouse gases reduced or removed from the atmosphere, outside of government-mandated programs. For investors it matters because buying or selling these credits can affect a company’s costs, reputation and future cash flows—think of credits like coupons you buy to balance out your household’s carbon use—so changes in demand, rules or quality of credits can influence valuations and risk.

carbon dioxide removal certificates technical

"delivery of carbon dioxide removal certificates, known as CORCs under the high-integrity"

A carbon dioxide removal certificate is a verified record that a specific amount of CO2 has been taken out of the atmosphere and stored. Think of it as a receipt proving someone removed a ton of carbon; companies or investors can buy or hold these receipts to meet climate commitments, comply with rules, or signal sustainability. Investors care because certificates can create new revenue streams, affect a company’s risk and reputation, and depend on verification and long‑term storage guarantees.

Puro.earth standard technical

"known as CORCs under the high-integrity Puro.earth standard."

A set of rules and verification processes used to assess and issue carbon removal credits, ensuring that only real, measurable and durable removals of CO2 are counted. Think of it as an independent inspection and certification system for carbon removal projects, giving buyers and sellers confidence the credits reflect genuine climate benefit. For investors, this reduces legal, reputational and market risk around companies trading or relying on those credits.

geologically stored carbon technical

"under Puro.earth’s “Geologically Stored Carbon” methodology."

Carbon that has been captured from the air or industrial sources and injected into deep underground rock layers or saline formations so it stays out of the atmosphere for a very long time. Think of it like putting carbon in a secure, deep vault: it can reduce a company’s reported emissions and create tradable credits or long‑term liabilities, so investors care about the permanence, legal rights, monitoring needs and the financial value or risk associated with those underground stores.

measurement, reporting, and verification technical

"platform for upstream agriculture measurement, reporting, and verification (MRV) to document"

Measurement, reporting, and verification (MRV) is the process of collecting clear data, summarizing it in a formal report, and having that report checked by an independent party to confirm accuracy. Think of it like taking precise measurements, writing them down, and having someone else audit the math — it gives investors confidence that claims about emissions, costs, performance, or compliance are real, comparable, and less risky to rely on.

AI-generated analysis. Not financial advice.

Gevo’s carbon dioxide removal credits from its North Dakota facility expected to improve in value with a higher grade from an independent rating agency with a global reputation

ENGLEWOOD, Colo., Dec. 18, 2025 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) is pleased to announce that BeZero Carbon Ltd., a preeminent global carbon rating agency, has upgraded its rating for the Gevo North Dakota (“GND”) facility that has carbon capture and storage to an “A” rating.

Gevo is a pioneer in the voluntary carbon markets (“VCM”) focused on the production and delivery of carbon dioxide removal certificates, known as CORCs under the high-integrity Puro.earth standard. The GND facility is the largest producer of technology-based carbon dioxide removal credits and is the only ethanol carbon capture and storage project to issue credits for thousand-year permanence, under Puro.earth’s “Geologically Stored Carbon” methodology.

“CORCs are gaining traction in the growing VCM and are expected to provide valuable co-product revenue for our operations. We anticipate this BeZero Carbon ‘A’ rating will only improve its value,” says Alex Clayton, Chief Business Development Officer at Gevo. “Our Class VI carbon-storage well has shown outstanding performance since it started in June of 2022, and we believe we are well positioned with our well that has 1 million tons per year of capacity, to be a consistent source of CORCs at meaningful scale. This BeZero Carbon ‘A’ rating simplifies the due diligence process for buyers reviewing our project for key quality parameters and places us in a top tier relative to other carbon projects.”

GND sources most of its corn feedstock from within 75 miles of the facility and will be leveraging Verity, a Gevo-developed carbon-tracking platform for upstream agriculture measurement, reporting, and verification (MRV) to document sustainable agriculture practices, create transparency in agricultural value chains, and provide tools for land assessment.

“We will soon be piloting an updated sustainable biomass sourcing and management program that enables us to gather deeper data on the agricultural practices of our feedstock growers through our Verity platform,” said Nancy Young, Chief Sustainability Officer at Gevo. “We are committed to ensuring the highest level of environmental integrity, which also increases the value of our credits and benefits farmers.”

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.

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 improvement in value of carbon credits from the BeZero rating; the further commercialization of carbon dioxide removal credits; BeZero Carbon and its ratings process; 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

FAQ

What did BeZero Carbon’s Dec 18, 2025 rating mean for GEVO?

BeZero upgraded the Gevo North Dakota facility to an “A” rating, signaling higher independent quality for its CORC carbon removal credits.

How much carbon can Gevo North Dakota’s Class VI well store per year (GEVO)?

Gevo reports the Class VI carbon-storage well has 1 million tons per year of capacity.

What are CORCs and why do they matter for GEVO (NASDAQ: GEVO)?

CORCs are carbon dioxide removal certificates under Puro.earth; GND issues CORCs with thousand-year permanence, supporting higher-quality voluntary credits.

When did Gevo’s North Dakota carbon-storage well begin operating?

Management says the Class VI well has shown performance since June 2022.

How will Verity MRV affect GEVO’s carbon credits value?

Gevo expects its Verity measurement, reporting, and verification platform to increase transparency in feedstock sourcing and support credit quality.

Does the BeZero rating change guarantee higher revenue for GEVO shareholders?

The company stated the rating is expected to improve credit value, but no financial figures or guaranteed revenue impacts were provided.