Gevo, Inc. reports developments across renewable fuels, chemicals and carbon management. Company news commonly covers financial results, low-carbon ethanol operations at Gevo North Dakota, carbon capture and sequestration infrastructure, a Class VI carbon-storage well, and the company’s dairy-based renewable natural gas facility.
Updates also address Gevo’s Alcohol-to-Jet platform for synthetic aviation fuel, proprietary technology for converting bio-based feedstocks into hydrocarbons and chemicals, specialty racing fuel blendstocks, project financing activity, licensing and franchise-development strategy, and executive or governance changes tied to its renewable-fuels growth plans.
Chevron Corporation (NYSE: CVX) and Gevo, Inc. (NASDAQ: GEVO) have signed a letter of intent to jointly invest in new facilities to produce sustainable aviation fuel from inedible corn. This collaboration aims to lower lifecycle carbon intensity in aviation fuels and will also generate proteins and corn oil. Gevo will utilize its proprietary technology while Chevron has the right to offtake approximately 150 million gallons of sustainable aviation fuel annually. The partnership is contingent on regulatory approvals and definitive agreements.
Gevo, Inc. (NASDAQ: GEVO) has announced plans to install a pilot unit for alcohol-to-hydrocarbon processing at its Luverne, Minnesota facility. The unit aims to produce sustainable aviation fuel (SAF), renewable gasoline, and chemical products, with installation expected to start in Q3 2022 and production slated for Q4 2022. The pilot will also support Gevo's future Net-Zero 1 production facility, set to begin in 2024 in South Dakota. This initiative is intended to enhance technology development and employee training, contributing to local job growth.
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Gevo, Inc. (NASDAQ: GEVO) reported a net loss of $18.3 million for Q2 2021, compared to a loss of $6.0 million in Q2 2020. Revenue decreased to $0.4 million, down from $1.0 million in the prior year. Cash reserves increased to $567.2 million, up from $525.3 million in Q1 2021. The company’s renewable natural gas project is on schedule, expecting annual cash distributions of $9 to $16 million starting late 2022. CEO Patrick Gruber highlighted progress in the Net-Zero 1 Project with engineering work anticipated to complete by December 2021.
Gevo, Inc. (NASDAQ:GEVO) will participate in a Water Tower Research Fireside Chat on August 18, 2021, at 4:00 PM EDT. The discussion will cover progress on the Net-Zero 1 Capex Scope and financial projections. Attendance requires prior registration due to limited slots, although the event will be available for replay post-presentation. Gevo aims to produce low-carbon fuels from renewable resources, contributing to reducing lifecycle greenhouse gas emissions. The company leverages innovative technology to create sustainable energy solutions, enhancing its position in the low-carbon market.
Gevo, Inc. (NASDAQ: GEVO) announced binding agreements with BP Canada Energy and BP Products for its NW Iowa RNG project, which will produce approximately 355,000 MMBtu of renewable natural gas (RNG) annually starting in early 2022. This RNG will be sold in California through Clean Energy Fuels Corp. Gevo anticipates cash distributions of $9 to $16 million per year post-stabilization and plans to use RNG for its Net-Zero projects starting 2024. The collaboration with BP aims to meet the increasing demand for low-carbon fuel.
Gevo, Inc. (NASDAQ: GEVO) has resumed production at its Luverne, Minnesota facility, focusing on fuel-grade renewable isobutanol (IBA). This IBA will be used for existing contracts in sustainable aviation fuel and renewable gasoline, alongside exploration of specialty markets. The company is also hiring more staff, aiming for 30 full-time employees. Additionally, operations at Luverne will help test processes for Gevo's future Net-Zero 1 facility in South Dakota, projected to start in 2024.
Gevo, Inc. (NASDAQ: GEVO) has appointed Jaime Guillen to its Board of Directors. Guillen brings nearly 30 years of experience across various sectors, including energy and infrastructure development. His previous roles include CEO at Alterra Partners and Managing Director at Bechtel Enterprises. CEO Dr. Patrick Gruber emphasized Guillen's expertise as crucial for advancing Gevo's Net-Zero projects. Gevo focuses on transforming renewable energy into low-carbon fuels and sustainable plastics, aiming to penetrate the growing market for low-carbon products.
Gevo, Inc. (NASDAQ: GEVO) will host a conference call on August 12, 2021, at 4:30 p.m. EDT to discuss its Q2 financial results for the period ending June 30, 2021. The company aims to update stakeholders on significant corporate developments. To join the call, dial 1 (833) 729-4776 within the U.S. or 1 (830) 213-7701 outside the U.S. A replay will be accessible two hours post-call. Gevo focuses on producing low-carbon renewable fuels and hydrocarbons with a mission to yield net-zero emissions through patented technology.