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Verity and Bushel Announce Integration to Advance Traceable Agricultural Practices Across the Supply Chain

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Verity and Bushel announced an integration to connect Bushel on-farm data with Verity’s sustainability modeling and compliance platform, enabling traceability of agricultural practices tied to carbon intensity and Section 45Z credit value for Gevo (NASDAQ: GEVO).

The pilot will start with Gevo North Dakota in Richardton and supports secure, permissioned data flow from enrolled farmers through Bushel to Verity for carbon scoring and documentation.

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Key Figures

Q3 2025 revenue: $42,710 thousand Q3 2024 revenue: $1,965 thousand Q3 2025 net loss: $7,954 thousand +5 more
8 metrics
Q3 2025 revenue $42,710 thousand Quarter ended September 30, 2025
Q3 2024 revenue $1,965 thousand Quarter ended September 30, 2024
Q3 2025 net loss $7,954 thousand Quarter ended September 30, 2025
Nine-month 2025 revenue $115,232 thousand Nine months ended September 30, 2025
Nine-month 2025 net loss $26,621 thousand Nine months ended September 30, 2025
Cash & equivalents $72,598 thousand As of September 30, 2025
Red Trail acquisition price $210,324 thousand Gevo North Dakota acquisition
Q3 2025 Section 45Z credits $12,500 thousand Recognized in Q3 2025

Market Reality Check

Price: $1.84 Vol: Volume 2,762,206 is sligh...
normal vol
$1.84 Last Close
Volume Volume 2,762,206 is slightly below the 20-day average of 2,969,117 (relative volume 0.93). normal
Technical Trading above the 200-day MA, with price at $1.84 vs 200-day MA of $1.74.

Peers on Argus

GEVO was down 2.62% while close peers were mixed: MNTK +2.91%, CLMT +1.74%, AMTX...

GEVO was down 2.62% while close peers were mixed: MNTK +2.91%, CLMT +1.74%, AMTX -1.69%, LWLG -11.07%, and LOOP 0%, suggesting a stock-specific move rather than a coordinated sector reaction.

Historical Context

5 past events · Latest: Jan 21 (Positive)
Pattern 5 events
Date Event Sentiment Move Catalyst
Jan 21 Leadership fireside chat Positive +3.1% Virtual fireside chat on leadership transition and future direction.
Jan 21 Carbon credits milestone Positive +3.1% 500,000 engineered carbon removal credits issued at ND plant.
Jan 16 Chief Carbon Officer Positive -0.5% Appointment of Chief Carbon Officer to expand carbon market strategy.
Jan 14 ETO patent award Positive +1.5% U.S. patent for ethanol-to-olefins process enabling renewable jet fuel.
Jan 05 Operations leadership hire Positive +2.4% New EVP operations named as planned successor to COO.
Pattern Detected

Recent news on carbon markets, IP expansion, and leadership changes has mostly aligned with positive price reactions, with only one divergence.

Recent Company History

Over the past month, GEVO has focused on leadership transitions, carbon-market expansion, and technology/IP development. Announcements included a CEO succession plan, strengthening of operational leadership, and a new Chief Carbon Officer to drive carbon credit strategies. The company also highlighted a major carbon credit milestone at its North Dakota plant and secured an ethanol-to-olefins patent. Today’s traceability-focused collaboration with Bushel extends this theme of building infrastructure and data capabilities around low-carbon fuels and carbon credits.

Market Pulse Summary

This announcement highlights Gevo’s push to embed its Verity platform into the agricultural supply c...
Analysis

This announcement highlights Gevo’s push to embed its Verity platform into the agricultural supply chain by integrating with Bushel’s on‑farm data. It supports traceable practices and carbon intensity scoring aimed at monetizing Section 45Z and future low‑carbon fuel programs at assets like Gevo North Dakota. In context of earlier carbon credit milestones and leadership changes, investors may watch adoption by farmers, program enrollment levels, and future disclosures on revenue or credit volumes tied to these traceability efforts.

Key Terms

carbon intensity
1 terms
carbon intensity technical
"practices that can influence carbon intensity outcomes and increase credit value"
Carbon intensity measures how much greenhouse gas a company, product, or activity produces for each unit of output — for example per unit of product made, per megawatt-hour of electricity, or per dollar of revenue. Think of it like miles per gallon but for emissions: lower numbers mean less pollution for the same activity. Investors watch it because higher carbon intensity can signal increased regulatory costs, shifting customer demand, and higher risk of assets losing value as economies move toward cleaner energy.

AI-generated analysis. Not financial advice.

ENGLEWOOD, Colo. and FARGO, N.D., Feb. 04, 2026 (GLOBE NEWSWIRE) -- Verity Holdings, LLC, a wholly owned subsidiary of Gevo, Inc. (NASDAQ: GEVO), and Bushel today announced an integration that will connect Bushel’s on-farm data with Verity’s sustainability modeling and compliance platform. This integration supports the traceability and documentation of agricultural production practices that can influence carbon intensity outcomes and increase credit value under Section 45Z. It also helps position the agricultural supply chain for evolving carbon programs and market-based opportunities for traceable grain.

The integration will give agribusinesses and producers a clearer path to participate in sustainability programs tied to grain produced using verified agricultural production practices. By linking on-farm practices to carbon intensity scoring, the integration supports traceability and creates access to market-based incentives. Farmers choose if and when to participate in the integrated platform, with data shared securely and only with their permission through Bushel Farm. Once enrolled, relevant records flow through Bushel’s systems to Verity to support documentation and carbon scoring.

The first pilot customer is the Gevo North Dakota ethanol facility in Richardton, North Dakota. The pilot reflects shared progress toward the goals outlined in the North Dakota-supported CSEA (Clean Sustainable Energy Authority) grant, where Bushel and Verity committed to enabling commercially viable, transparent carbon solutions in North Dakota.

“Verity’s focus is to build confidence in sustainability data across the supply chain,” said Kimberly Bowron, president of Verity. “By connecting with Bushel, we can bring verified carbon intensity (CI) scoring to more stakeholders, starting at the farm. It’s a scalable path toward enabling better decisions, incentives, and outcomes.”

The integration is designed to help both farmers and processors respond to increasing demand for transparent grain sourcing while also preparing for potential policy shifts. Even as regulatory details change, the need for documented, traceable grain continues to grow—both to meet program requirements and to unlock access to potential market premiums.

Recent proposed guidance issued by the U.S. Department of the Treasury under the Section 45Z Clean Fuel Production Credit signals the growing role of verifiable carbon intensity data in determining program eligibility and value, even as implementation evolves. Systems like Verity, which securely connect on-farm practices to downstream fuel production, help create the data integrity needed to unlock value as these emerging low-carbon fuel markets take shape.

“Farmers want to participate in these programs, but they need a process that fits within the common systems like Bushel they already use,” said Jake Joraanstad, CEO of Bushel. “This partnership and technology integration helps create more market-based opportunities by connecting data in a secure, permissioned way. It supports what’s needed now while helping the industry get ready for what’s next. This isn't the next carbon pitch, this is where rubber hits the road.”

Farmers can opt into the integrated platform through their Bushel Farm subscription to share data with participating grain buyers. Facilities like Gevo North Dakota will use Verity’s traceability dashboard to manage and view program participation and carbon intensity scoring tied to enrolled acres. Bushel Wallet will support secure digital payments when applicable.

About Verity

Verity Holdings, LLC, a wholly owned subsidiary of Gevo, Inc., is dedicated to providing full-service carbon project development through its proprietary digital MRV (Measure, Report, Verify) platform, powered by distributed ledger technology. Verity specializes in carbon accounting and services aimed at maximizing the value of environmental benefits throughout the entire business system.

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 carbon capture and sequestration (“CCS”) facility and Class VI carbon-storage well. Gevo also own and operates one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States, turning byproducts 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 about Gevo, please visit www.gevo.com

About Bushel

Bushel is an independent software company based in Fargo, N.D. that provides an integrated workflow solution for agriculture. Bushel’s platform includes customer relationship management, customer and commercial portals, offer and hedge management, and farm management and advisement software. Through its wholly owned subsidiary Bushel Exchange, LLC, Bushel also provides digital payment solutions to its customers. These solutions improve operational efficiency, deliver crucial insights, and increase flexibility, enabling grain buyers, processors, ag retailers, ag lenders and farmers to adapt and expand their operations. Bushel now powers more than 3,500 grain and ag retail facilities, representing more than 50% of U.S. and Canadian grain origination. Over 100,000 farmers use Bushel's technology, making it one of the largest technology networks in U.S. agribusiness. Bushel also meets SOC 2 Type II standards, ensuring robust data security.

Media Contacts:

Heather Manuel
Gevo, VP of Stakeholder Engagement
303-883-1114
PR@gevo.com

Julia Eberhart
Bushel, Director of PR & Marketing
605-690-1418
jeberhart@bushelpowered.com


FAQ

What does the Verity–Bushel integration mean for Gevo (GEVO) supply chain traceability?

It creates a linked data path from farms to fuel facilities to support traceable carbon scoring. According to Verity, enrolled on-farm records flow through Bushel to Verity to document practices and generate carbon intensity scores for facilities like Gevo North Dakota.

How can farmers enroll through Bushel to participate with Gevo (GEVO) programs?

Farmers opt in via their Bushel Farm subscription and grant permission to share data. According to Bushel, data is shared securely and only with farmer consent, enabling participation in verified sustainability programs tied to enrolled acres.

Will the Verity–Bushel integration affect eligibility for Section 45Z credits for Gevo (GEVO)?

The integration supports documentation that can influence Section 45Z credit value and eligibility. According to Verity, connecting on-farm practices to carbon intensity scoring helps create verifiable data needed as guidance and implementation of 45Z evolve.

What role will the Gevo North Dakota Richardton pilot play in the partnership?

The Richardton facility is the first pilot customer to test end-to-end data flows and carbon scoring. According to the companies, the pilot reflects progress under the North Dakota CSEA grant to enable commercially viable, transparent carbon solutions.

How will payments and processor access be handled for enrolled acres under the integration with Gevo (GEVO)?

Processors will use Verity’s dashboard for participation and carbon scoring while Bushel Wallet can enable secure digital payments when applicable. According to Bushel, the system is designed to connect buyers and farmers in a permissioned, secure manner.
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