Financial Data and Key Metrics Changes - The company generated $29 million in revenue for the first quarter of 2025, with only two months of operations at Chivo, North Dakota [6][21] - Combined operating revenue and other net income was $30.9 million for the first quarter [21] - The company ended the quarter with $135 million in cash, cash equivalents, and restricted cash [21] Business Line Data and Key Metrics Changes - The RNG subsidiary generated $5.7 million in revenue during the quarter, reflecting a $1.7 million increase compared to the previous year, driven by increased LCFS credit generation [21][22] - At Gevo North Dakota, income from operations was $500,000, and adjusted EBITDA was $1.8 million for February and March [22] - Gevo RNG reported income from operations of $1.1 million and adjusted EBITDA of $2.7 million last quarter [22] Market Data and Key Metrics Changes - The carbon intensity score for the company's ethanol is approximately 20, with expectations to improve further [10][21] - The company captured and sequestered 29,000 metric tons of carbon dioxide at the North Dakota site, avoiding 7,000 metric tons of carbon emissions [26] Company Strategy and Development Direction - The company aims to become EBITDA positive this year, leveraging the acquisition of the North Dakota plant and the monetization of the 45Z tax credit [7][21] - Plans to develop an alcohol-to-jet (ATJ) plant in North Dakota, with expectations for faster construction and lower capital costs [12][13] - The company is pursuing opportunities to develop and deploy ATJ plant designs globally, focusing on partnerships rather than full ownership [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the fundamentals of the business despite market noise, indicating a strong growth trajectory [20] - The company anticipates monetizing the 45Z tax credits soon, which could significantly enhance EBITDA [8][56] - Management highlighted the importance of domestic energy production, job creation, and supporting agriculture as part of their mission [33] Other Important Information - The company is actively negotiating its first 45Z tax credit sales and expanding its market position for durable carbon dioxide removal credits [28][30] - The ATJ project is expected to be economically advantageous compared to traditional jet fuel production methods [17][18] Q&A Session Summary Question: How should we think about the cash cadence for the year? - The company plans to spend less than $40 million on the ATJ-sixty project and is refinancing its RNG plant to free up cash [40][41] Question: Is there an established market for carbon abatement products? - There is a growing market for durable carbon dioxide removals, and the company is expanding its presence in this area [51][52] Question: Are you potentially going to start monetizing the 45Z credits in Q2? - The company expects to monetize the 45Z credits soon and aims to be EBITDA positive for the year [56][57] Question: Could you speak to the amount you expect to receive for ethanol and dairy RNG molecules? - The expected value is proportional to the carbon intensity scores, with potential earnings of about $2 per CI point [68][70] Question: Can you provide a range for the value of Scope 1 and Scope 3 emission credits? - The values are well north of the types of carbon value seen in LCFS markets, potentially in the hundreds of dollars per ton [88][90]

Project Development and Economic Impact - Gevo's initial Alcohol-to-Jet Project (ATJ-60) is designed to produce approximately 65 million gallons per year of total hydrocarbon volumes, including 60 million gallons per year of sustainable aviation fuel (SAF) with a "net zero" greenhouse gas footprint [198]. - The ATJ-60 facility is projected to contribute approximately $116 million annually to the local economy, generating 100 direct jobs and creating an additional 736 local jobs [199]. - The construction phase of the ATJ-60 facility is expected to provide a temporary $184 million economic boost and support 1,266 jobs [199]. - Gevo expects to finance the construction of ATJ-60 using a combination of company equity and project-level equity and debt financing, with projected spending between $90 million and $125 million until financial close [202]. - The Department of Energy has provided a conditional commitment for a loan guarantee facility of approximately $1.6 billion for the ATJ-60 project, validating its integrity [203]. Acquisitions and Strategic Partnerships - Gevo acquired the majority of the assets of Red Trail Energy for $210 million, enhancing its capabilities in biofuels and carbon marketing [205][208]. - The acquisition of Red Trail Energy includes an ethanol production plant, carbon capture and storage assets, and is expected to strengthen Gevo's revenue stream through ethanol production and carbon dioxide removal credit sales [208]. - The company completed the acquisition of Red Trail Energy for $198.5 million, with an additional $10.0 million paid to an escrow account in 2024 [257]. - The company entered into a joint development agreement with LG Chem to develop bio-propylene using its Ethanol-to-Olefins technology, targeting a market size of $400.0 – $500.0 billion for low-carbon solutions [228]. Renewable Energy and Carbon Management - Gevo is developing commercial projects to convert renewable energy into energy-dense liquid hydrocarbons, addressing the global need for economically reducing greenhouse gas emissions [197]. - The company is pursuing additional Alcohol-to-Jet Projects and evaluating greenfield sites for future development, focusing on existing ethanol plants for decarbonization [204]. - The RNG Project in Northwest Iowa surpassed its annual production target of 310,000 MMBtu in 2023 and expanded its expected output from 355,000 MMBtu to 400,000 MMBtu in 2024 [215]. - The provisional pathway for the RNG Project has a Carbon Intensity score of approximately -339 MJ/eCO2, leading to an increase of about 70,000 carbon credits, significantly boosting revenue potential [218]. - Verity, a subsidiary, is focused on tracking and verifying carbon intensity across the supply chain, with five ethanol producers currently contracted and additional producers in the pipeline [221]. Financial Performance and Projections - Total operating revenues for the RNG segment increased by 42% to $5,671,000 in Q1 2025 from $3,990,000 in Q1 2024, driven by a 36% increase in RNG sales and a 236% increase in LCFS credits [233]. - Gevo North Dakota segment contributed $22,814,000 in total operating revenues for the three months ended March 31, 2025, with ethanol production reaching 11,136,584 gallons [235]. - Operating expenses rose by 82% to $49,248,000 in Q1 2025 compared to $27,131,000 in Q1 2024, primarily due to increased costs from the Gevo North Dakota acquisition [237]. - The net loss attributable to Gevo, Inc. was $21,728,000 for Q1 2025, a 15% increase from the net loss of $18,875,000 in Q1 2024 [237]. - Cash and cash equivalents as of March 31, 2025, totaled $134.9 million, which includes $65.3 million in cash and cash equivalents and $69.6 million in current restricted cash [250]. Research and Development - Research and development expenses decreased by 32% to $1,052,000 in Q1 2025 compared to $1,548,000 in Q1 2024 [240]. - The ETO pilot plant launched in early 2024 has successfully delivered results for further scale-up, with $2.1 million received to date under the joint development agreement with LG Chem [232]. Stock and Cash Management - The company authorized a stock repurchase program of up to $25 million, with approximately $20.3 million remaining available as of March 31, 2025 [264][265]. - The company expects to utilize cash reserves for the development of production facilities and potential investments in RNG projects [250]. - The accounts receivable balance increased by $4.5 million compared to the same period last year, reflecting higher revenue from the RNG plant [256]. - The company expects to finance the construction of ATJ-60 using a combination of equity and third-party capital, with projected spending below the previously estimated range of $90.0 – $125.0 million [258][262].

Revenue and Financial Performance - Total operating revenue increased by approximately $25 million in Q1 2025 compared to Q1 2024, primarily driven by $23 million from Gevo North Dakota following the acquisition of Red Trail Energy[4] - RNG total operating revenue rose by $1.7 million, or 42%, compared to Q1 2024, attributed to a carbon intensity score approval from CARB[4] - Total operating revenues for Q1 2025 were $29,109,000, a significant increase from $3,990,000 in Q1 2024, representing a growth of approximately 629%[33] - The net loss for Q1 2025 was $21,773,000, compared to a net loss of $18,875,000 in Q1 2024, indicating a deterioration in financial performance[33] - The company reported total operating expenses of $49,248,000 for Q1 2025, up from $27,131,000 in Q1 2024, which is an increase of approximately 81%[33] - The company incurred acquisition-related costs of $4,438,000 in Q1 2025, indicating ongoing investment in growth strategies[33] - The company reported a net cash used in operating activities of $24,048,000 for Q1 2025, compared to $16,078,000 in Q1 2024, indicating increased cash outflow[35] - Overall, Gevo's consolidated Non-GAAP adjusted EBITDA loss for Q1 2025 was $15,351,000, which is a marginal increase in loss compared to the previous year[37] Cash and Assets - The company ended Q1 2025 with cash, cash equivalents, and restricted cash totaling $134.9 million[8] - Cash and cash equivalents decreased to $65,288,000 as of March 31, 2025, down from $189,389,000 at the end of 2024, reflecting a decrease of approximately 65%[30] - Total assets increased to $677,800,000 as of March 31, 2025, compared to $583,941,000 at the end of 2024, marking an increase of about 16%[30] - The company’s total liabilities increased to $203,008,000 as of March 31, 2025, compared to $94,453,000 at the end of 2024, representing a growth of approximately 115%[30] - The company’s additional paid-in capital rose to $1,289,406,000 as of March 31, 2025, from $1,287,333,000 at the end of 2024, reflecting a slight increase[31] Operational Metrics - Gevo North Dakota produced approximately 11.1 million gallons of low-carbon ethanol, contributing around 47 thousand metric tons of carbon abatement in Q1 2025[4] - Gevo's carbon abatement efforts resulted in over 100 thousand metric tons of CO2 emissions sequestered, reduced, or avoided in Q1 2025[4] - Gevo signed an offtake agreement with Future Energy Global for emissions credits from 10 million gallons of fuel per year, aiding financing for ATJ projects[8] - The company is engaged with the U.S. Department of Energy to finance the ATJ-60 project, aiming to produce more domestic energy[7] Expenses and Losses - Non-GAAP Adjusted EBITDA loss was $15.4 million for Q1 2025, with a loss from operations of $20.1 million[8] - Research and development expenses decreased by $0.5 million in Q1 2025, primarily due to reduced consulting expenses[13] - For the three months ended March 31, 2025, Gevo reported a Non-GAAP adjusted EBITDA loss of $15,351,000, compared to a loss of $14,457,000 for the same period in 2024, indicating a slight deterioration in performance year-over-year[37] - The loss from operations for Gevo in Q1 2025 was $20,139,000, an improvement from a loss of $23,141,000 in Q1 2024, reflecting a reduction in operational losses[37] - Depreciation and amortization expenses increased to $5,622,000 in Q1 2025 from $4,451,000 in Q1 2024, highlighting increased asset utilization or investment[37] - Stock-based compensation decreased to $1,898,000 in Q1 2025 from $4,233,000 in Q1 2024, suggesting a reduction in equity-based incentives[37] - GevoFuels reported a loss from operations of $724,000 in Q1 2025, compared to a loss of $1,010,000 in Q1 2024, indicating improved performance in this segment[37] - GevoRNG achieved a positive income from operations of $469,000 in Q1 2025, a significant improvement from a loss of $2,005,000 in Q1 2024, demonstrating growth in this area[37] - The change in fair value of derivative instruments resulted in a loss of $2,732,000 in Q1 2025, with no comparable figure in Q1 2024, indicating increased volatility in financial instruments[37] - Allocated intercompany expenses for shared service functions remained consistent at a loss of $890,000 in both Q1 2025 and Q1 2024, reflecting stable internal cost allocations[37] Shareholder Information - The weighted-average number of common shares outstanding was 232,027,993 for Q1 2025, compared to 240,844,334 for Q1 2024, showing a decrease of about 4%[33] - The company continues to focus on improving operational efficiency and reducing losses across its segments, particularly in GevoFuels and GevoRNG[37]

Core Insights - Gevo, Inc. reported a quarterly revenue increase of approximately $25 million for Q1 2025 compared to Q1 2024, driven by strategic growth initiatives and the acquisition of Gevo North Dakota [4][8][9] - The company anticipates further revenue and adjusted EBITDA growth in 2025, supported by the monetization of tax credits and new offtake agreements [1][4][7] Financial Performance - Total operating revenue for Q1 2025 was $29.1 million, a significant increase from $3.99 million in Q1 2024, primarily due to $22.8 million from Gevo North Dakota and $1.7 million from the RNG project [4][29] - The adjusted EBITDA loss for Q1 2025 was $15.4 million, an improvement from a loss of $14.5 million in Q1 2024 [8][34] - The company ended Q1 2025 with cash, cash equivalents, and restricted cash totaling $134.9 million [8] Strategic Developments - Gevo signed a pioneering offtake agreement with Future Energy Global for emissions credits from 10 million gallons of fuel per year, alongside another agreement for an additional 5 million gallons of SAF [3][4] - The company is actively developing markets for voluntary carbon abatement, achieving over 100,000 metric tons of CO2 abatement in Q1 2025 [4][5] Operational Highlights - Gevo North Dakota produced approximately 11.1 million gallons of low-carbon ethanol in Q1 2025, contributing to significant carbon abatement [4][9] - The company is focused on advancing its alcohol-to-jet (ATJ) projects, with plans for an ATJ-30 plant capable of producing 30 million gallons of jet fuel per year [7][9] Cost and Expense Management - Cost of production increased by $18.9 million in Q1 2025, primarily due to the acquisition of Gevo North Dakota [10] - General and administrative expenses decreased by $1.1 million, attributed to a reduction in stock-based compensation [13] Market Position and Future Outlook - The CEO expressed confidence in achieving positive adjusted EBITDA in 2025, citing the operational assets and market opportunities available [7][9] - Gevo's innovative technology and strategic partnerships position the company favorably within the renewable fuels market, particularly in the SAF segment [7][22]

Company Overview - GEVO Inc. is set to report its first-quarter 2025 results on May 13, after market close [1] - The company had an earnings surprise of 18.18% in the last reported quarter, but a trailing four-quarter average negative earnings surprise of 1.29% [1] Revenue Expectations - The Zacks Consensus Estimate for GEVO's revenues is $26.4 million, reflecting a significant growth of 560.4% compared to the prior-year quarter [2] - Increased sales from environmental attributes related to GEVO's RNG project, following the anticipated final pathway approval under the Low Carbon Fuel Standard Program, are expected to enhance top-line performance [1][2] Earnings Projections - The Zacks Consensus Estimate for GEVO's first-quarter loss is projected at 10 cents per share, indicating a deterioration from the loss of eight cents in the prior-year quarter [3] - Higher project development costs for future Alcohol-to-Jet Projects and Verity growth initiatives, along with increased interest expenses, are likely to negatively impact bottom-line performance [2] Earnings Prediction Model - The Zacks model does not predict a conclusive earnings beat for GEVO this time, with an Earnings ESP of -20.00% [4] - GEVO currently holds a Zacks Rank of 3, indicating a Hold rating [5]

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Company Overview - Gevo, Inc. is a next-generation diversified energy company focused on providing cost-effective, drop-in fuels that enhance energy security and support rural economic growth [3] - The company utilizes innovative technology to produce a variety of renewable products, including sustainable aviation fuel (SAF), motor fuels, and chemicals [3] - Gevo operates one of the largest dairy-based renewable natural gas (RNG) facilities in the U.S. and an ethanol plant with an adjacent carbon capture and sequestration (CCS) facility [3] Upcoming Events - Gevo will host a conference call on May 13, 2025, at 4:30 p.m. ET to report its financial results for the first quarter ended March 31, 2025 [1] - Participants can register for the live call through a provided weblink and will receive a dial-in number and pin after registration [1] - A webcast replay will be available two hours after the conference call ends, accessible in the Investor Relations section of Gevo's website [2]

Company Overview - Gevo, Inc. (GEVO) is anticipated to report a year-over-year increase in earnings due to higher revenues for the quarter ended March 2025, with a consensus outlook indicating a quarterly loss of $0.07 per share, reflecting a +12.5% change from the previous year [1][3] - Revenues are expected to reach $30.93 million, representing a significant increase of 675.2% compared to the same quarter last year [3] Earnings Estimates and Revisions - The consensus EPS estimate has been revised 23.08% higher in the last 30 days, indicating a reassessment by analysts regarding the company's earnings prospects [4] - The Most Accurate Estimate for Gevo is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -14.29%, suggesting a bearish outlook from analysts [10][11] Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict the likelihood of actual earnings deviating from consensus estimates, with a strong predictor being a positive Earnings ESP combined with a favorable Zacks Rank [6][8] - Gevo currently holds a Zacks Rank of 2 (Buy), but the negative Earnings ESP complicates the prediction of an earnings beat [11] Historical Performance - In the last reported quarter, Gevo was expected to post a loss of $0.11 per share but delivered a loss of $0.09, resulting in a surprise of +18.18% [12] - Over the past four quarters, Gevo has beaten consensus EPS estimates two times [13] Industry Comparison - Clearway Energy (CWEN), another player in the alternative energy sector, is expected to report earnings per share of $0.30 for the same quarter, indicating a year-over-year change of -1,400%, with revenues projected at $310.81 million, up 18.2% from the previous year [17] - Clearway Energy's consensus EPS estimate has been revised 8.5% higher recently, and it has an Earnings ESP of 108.50%, suggesting a likely earnings beat [18]

Core Insights - Gevo, Inc. and Future Energy Global have signed a pioneering offtake agreement for carbon abatement attributes to help airlines and companies reduce CO2 emissions through Sustainable Aviation Fuel (SAF) [1][2] - The agreement involves the acquisition of Scope 1 and Scope 3 emissions credits from 10 million gallons per year of SAF produced at Gevo's ATJ-60 facility [1][2] - Gevo has secured a conditional loan guarantee of $1.63 billion from the U.S. Department of Energy to finance the construction of the ATJ-60 facility, which aims to produce 60 million gallons of SAF annually [2][3] Company Overview - Gevo is a diversified energy company focused on producing cost-effective, drop-in fuels that enhance energy security and reduce carbon emissions [6][7] - The company operates one of the largest dairy-based renewable natural gas facilities in the U.S. and has developed a carbon capture and sequestration facility [7] - Gevo's business model emphasizes job creation and community revitalization through the development and operation of production facilities [6][7] Industry Context - The aviation industry aims for net-zero CO2 emissions by 2050, with SAF expected to contribute approximately two-thirds of the necessary emissions reduction [3] - Current SAF production needs to scale more than 400-fold to meet industry targets, and SAF is not yet widely available at major airports [3][4] - The "Book and Claim" approach allows for the separation of emissions credits from physical fuel, facilitating a global SAF market and reducing transportation and storage costs [4][11] Future Energy Global's Role - Future Energy Global is focused on accelerating the SAF market by connecting investors, suppliers, and buyers, enhancing the business case for SAF production [5][10] - The company's innovative SAF pre-purchasing ecosystem aims to unlock capital flow into the SAF industry, benefiting all stakeholders [10][11] - FEG's collaboration with Gevo enhances the portfolio of Book and Claim solutions available to airlines and corporate customers, crucial for scaling SAF production [5][10]

Company Overview - Verity Holdings, LLC has partnered with Minnesota Soybean Processors (MnSP) to implement proprietary track and trace software aimed at enhancing export premiums and compliance reporting [1][2] - MnSP operates a soy crush plant processing over 100,000 bushels per day, a refinery for edible oil and biofuels, and a biodiesel production plant with a capacity of 41 million gallons per year [3] - Gevo, Inc., the parent company of Verity, focuses on producing cost-effective, renewable fuels and has developed various facilities, including one of the largest dairy-based renewable natural gas facilities in the U.S. [5] Technology and Innovation - Verity's technology enables producers to document sustainable agriculture attributes, ensuring that sustainably grown soybeans provide real value across the supply chain [2] - The digital MRV platform developed by Verity utilizes distributed ledger technology to track, verify, and quantify carbon intensity throughout the carbon lifecycle [4] Market Position and Strategy - The partnership between Verity and MnSP is positioned to expand opportunities in international markets for sustainably certified products, particularly those from regeneratively grown soybeans [2] - MnSP aims to become the largest independent soybean crush facility in the U.S. and is focused on providing superior value to customers and returns to shareholders [7]