Gevo Inc. CEO Patrick Gruber discussed the company’s proposed sustainable aviation fuel (SAF) project in South Dakota during a fourth quarter earnings call, held March 27, indicating financial close could be achieved by year-end.&nbsp;The 60 MMgy proposed SAF project, planned for development near Lake Preston, South Dakota, received a conditional commitment for a U.S. Department of Energy loan guarantee last year. Gruber said Gevo continues to collaborate with the DOE loan office as the company moves forward to achieve the financial goals for the project.&nbsp;According to Gruber, the company wants to see what Summit Carbon Solutions does regarding its planned CO2 pipeline project before it finalizes economics for the proposed SAF plant. South Dakota recently enacted a law prohibiting the use of eminent domain in the development of CO2 pipeline projects within the state, prompting Summit to ask the South Dakota Public Utilities Commission to pause its pending pipeline permit application. Lawmakers in Iowa are working to implement a similar law banning the use of eminent domain on agricultural lands for CO2 pipeline projects. Despite those setbacks, Gruber said Summit has told Gevo the company still strongly believes “that the pipeline is going to get done.”&nbsp;Gruber also stressed the proposed SAF project could move forward without the Summit pipeline. Gevo’s recently acquired ethanol plant in North Dakota has its own CO2 sequestration site, which could take in CO2 generated at the proposed SAF plant. “If we went this route, the project returns for [the] South Dakota plant would still be attractive,” Gruber said. Financial close for the South Dakota SAF project is currently targeted for year-end, Gruber added.&nbsp;Engineering work is also underway for the development of SAF capacity at the recently acquired North Dakota ethanol plant. Gruber said development of that project can be expedited by leveraging work already done for the South Dakota facility.&nbsp;Gevo also has several other business segments, including a renewable natural gas (RNG) project in Iowa. The company sold 366,557 MMBtu of RNG last year. On a standalone basis, the RNG subsidiary generated $15.8 million in revenue last year. This reflects an increase of $300,000 compared to the previous year, primarily due to higher sales of environmental attributes from the RNG project. Gevo expects to receive a final pathway approval under California’s Low Carbon Fuel Standard program in early 2025, which will allow the company to capitalize on a lower carbon intensity (CI) score.&nbsp;For the fourth quarter, Gevo reported $8.9 million in combined operating revenue and investment income. Loss from operations was $19.6 million. Non-GAAP adjusted EBITDA loss was $11.3 million. Net loss per share was 8 cents for the fourth quarter.&nbsp;&nbsp;

2025-04-02 - Gevo provides update on planned SAF projects  (3 publications)

Gevo Inc. CEO Patrick Gruber discussed the company’s proposed sustainable aviation fuel (SAF) project in South Dakota during a fourth quarter earnings call, held March 27, indicating financial close could be achieved by year-end. 

Gevo provides update on planned SAF projects

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