ENGLEWOOD, Colo., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) is proud to announce the U.S. Patent and Trademark Office has granted to Gevo, a patent for its ethanol to olefins ("ETO") process. This patent further cements Gevo's position as a leader in intellectual property ("IP") surrounding biobased renewable fuel and chemical production from alcohols. Gevo has been awarded U.S. Patent No. 12,043,587 B2 covering the ETO process. This patent protects the process of using certain proprietar ...

ENGLEWOOD, Colo., Aug. 21, 2024 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) announced a purchase agreement for its low-carbon intensity fuel blendstock with Shell Global Solutions Deutschland GmbH ("Shell") for use in motorsports. Gevo's renewable blendstock is suitable for premium motorsport fuels, demonstrating that sustainability and peak performance belong together. Beginning with performance, Gevo's low-carbon intensity fuel blendstock is expected to meet the robust demands of grueling racing schedul ...

Financial Data and Key Metrics Changes - Gevo's Q2 combined revenue and interest income was $9.4 million, with a corporate spend (SG&A) of $7 million, excluding non-cash stock-based compensation of $4.5 million, which is a $0.4 million increase from Q2 2023 [8][9] - The company ended Q2 2024 with a liquidity position of $315.3 million in cash, restricted cash, and other liquid investments [8] - The company utilized its stock repurchase program, repurchasing approximately 7.2 million shares for $4.7 million, leaving $20.3 million available under the program [9] Business Line Data and Key Metrics Changes - The renewable natural gas (RNG) business achieved an annualized production rate of approximately 400,000 MMBtu, a 22% increase compared to the same period last year, with Q2 RNG revenue of $4.3 million [7][8] - Approximately 95,000 MMBtu of RNG was sold during Q2, which included $0.1 million from RNG sales and $4.2 million from the sale of environmental attributes related to RNG [7] Market Data and Key Metrics Changes - The company is targeting financial close for the Net Zero One (NZ One) project by the end of 2024, with development costs tracking under the previously disclosed range of $90 million to $125 million [6][8] - The RNG project is expected to receive approval under California's low carbon fuel standard (LCFS) program within the next six to nine months, which could significantly increase revenue from the RNG project [16] Company Strategy and Development Direction - Gevo is focused on three main areas: achieving net zero emissions, securing a Department of Energy (DOE) loan, and generating revenue from its Verity and RNG businesses [5][6] - The company is exploring further expansion of its RNG capacity towards 500,000 MMBtu per year with minimal additional capital expense [16] - Verity, a digital carbon accounting tech startup, aims to provide carbon accounting and supply chain traceability solutions to biofuel producers and farmers, with anticipated first revenue this year [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the progress of the DOE loan guarantee process and the potential for significant value creation from the NZ One project [5][6] - The management highlighted the importance of the LCFS market and the potential for carbon prices to increase, which would benefit the company's operations [24][25] - The company is confident in its ability to generate cash and work towards profitability, with a positive outlook on future opportunities [42] Other Important Information - The company is collaborating with Google to integrate artificial intelligence into the Verity platform, enhancing customer experience and optimizing carbon intensity reductions [12] - Verity has achieved 100% farmer retention in its growers programs, covering approximately 76,000 acres, an increase of 17% from the previous 65,000 acres [13] Q&A Session Summary Question: Can you provide more color on the stock repurchase program? - Management indicated that they cannot provide specific comments due to restrictions [18] Question: Any updates on the collaboration with LG Chem? - The collaboration is progressing well, with milestones being met in scaling up ETO technology [19] Question: What is the status of the LCFS market? - Management noted that while it's hard to predict carbon prices, there is a general expectation of an increase, which would benefit the company [24] Question: What are the drivers for the non-GAAP adjusted EBITDA range for RNG? - The range is influenced by the approval of the carbon pathway and current carbon prices [31] Question: Any specific catalysts the DOE is looking into for the NZ One build-out? - Management could not provide specifics but noted the thoroughness of the DOE's review process [35] Question: Is Google making any investments in Verity? - Google is partnering on the USDA grant and providing AI tools for the Verity platform [40]

Gevo, Inc. (GEVO) came out with a quarterly loss of $0.09 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this company would post a loss of $0.06 per share when it actually produced a loss of $0.08, delivering a surprise of -33.33%. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. Gevo, which belongs to the Zacks Alter ...

ENGLEWOOD, Colo., July 29, 2024 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO), announced today that Dr. Eric Frey, Vice President of Finance and Strategy, will participate in a Renmark Virtual Non-Deal Roadshow Series on Tuesday, July 30th at 12:00 pm ET. Investors and other persons interested in participating in the event must register using the link below. Registration Link: https://www.renmarkfinancial.com/live-registration/renmark-virtual-non-deal-roadshownasdaq-gevo-1-ZKEXTZIJ Gevo's mission is to tran ...

Investors and other persons interested in participating in the event must register using the link below. Gevo's mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates a ...

To participate in the live call, please register through the following event weblink: https://register.vevent.com/register/BI06cf47c7d0784a4ebd715904d1e3364f To listen to the conference call (audio only), please register through the following event weblink: https://edge.media-server.com/mmc/p/hchu8jjg About Gevo Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientificbased measurement for life cycle inventory or LCI. ENGLEWOOD, Colo., July 17, 2024 (GLOBE N ...

ENGLEWOOD, Colo., July 17, 2024 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) announced today that it will host a conference call on August 8, 2024, at 4:30 p.m. ET (2:30 p.m. MT) to report its financial results for the second quarter ended June 30, 2024. To participate in the live call, please register through the following event weblink: https://register.vevent.com/register/BI06cf47c7d0784a4ebd715904d1e3364f After registering, participants will be provided with a dial-in number and pin. To listen to the c ...

"I am pleased that we achieved an annualized production rate of approximately 402,000 MMBtu in May, exceeding our previous record of approximately 401,000 MMBtu in March," said Staci Bogue-Buchholz, Vice President and General Manager of Gevo's RNG facilities. "These results show we have hit our stride from a production perspective, and I think we have room for further improvement too. The system is running well." Gevo's RNG is produced by capturing methane biogas from manure digestors across three dairy far ...

ENGLEWOOD, Colo., July 15, 2024 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) announced today that its renewable natural gas ("RNG") business recently achieved record production levels. "I am pleased that we achieved an annualized production rate of approximately 402,000 MMBtu in May, exceeding our previous record of approximately 401,000 MMBtu in March," said Staci Bogue-Buchholz, Vice President and General Manager of Gevo's RNG facilities. "These results show we have hit our stride from a production persp ...