Gevo Inc. released third quarter financial results on Nov. 13, reporting that company has completed a planned capacity expansion of its renewable natural gas (RNG) operations and is in the formal due diligence stage with the U.S. Department of Energy regarding a loan guarantee application.&nbsp;Patrick Gruber, CEO of Gevo, said that the company’s proposed Net-Zero 1 alcohol-to-jet sustainable aviation fuel (SAF) project, currently under development in South Dakota, is three months into the formal due diligence and term sheet negotiation phase for a DOE loan guarantee. Gruber estimated that the loan guarantee process will take 12 months to complete and said the company believes it is on track based on the positive progress it made in the third quarter.&nbsp;Guber also discussed the company’s RNG business in northwest Iowa, noting the previously announced capacity expansion from 355,000 MMBtu to 400,000 MMBtu was completed during the third quarter. Gevo sold 81,271 MMBtu of RNG during the third quarter, generating approximately $4.5 million in revenue.Gevo reported total operating revenues of $4.53 million for the third quarter, up from $309,000 during the same period of last year. Net loss was $15.7 million, down from a net loss of $43.79 million reported for the third quarter of 2022. &nbsp;

2023-11-15 - Gevo expands RNG capacity, works to secure DOE loan guarantee  (3 publications)

2020/09/GevoLogoBigger_16007296180706_largethumb.jpg

2020/09/GevoLogoBigger_16007296180706_thumb.jpg

2020/09/GevoLogoBigger_16007296180706.jpg

Gevo Inc. released Q3 financial results on Nov. 13, reporting that company has completed a planned capacity expansion of its RNG operations and is in the formal due diligence stage with the U.S. DOE regarding a loan guarantee for its SAF project. 

Gevo expands RNG capacity, works to secure DOE loan guarantee

Related Stories

Australia’s 2024-2025 budget includes support for SAF, renewable hydrogen

ChemCatBio launches survey to learn about community response to new biorefining projects

Rockingham County chooses Waga Energy to produce RNG in North Carolina

Maryland Bioenergy Center operating at full nameplate capacity

LanzaJet announces $20 million investment from global airport operator Groupe ADP

Upcoming Events

Biodiesel Summit: Sustainable Aviation Fuel & Renewable Diesel

Carbon Capture & Storage Summit

Gevo expands RNG capacity, works to secure DOE loan guarantee .css-7jxktu{position:absolute;bottom:0px;left:0px;right:0px;height:3px;border-radius:3px;background-color:var(--chakra-colors-brandBlack);}