Core Viewpoint - Gevo, Inc. has promoted Lindsay Fitzgerald to Chief Advocacy and Communications Officer, emphasizing the company's commitment to enhancing American energy and food security through innovative agricultural solutions [1][2]. Group 1: Leadership and Role - Lindsay Fitzgerald's new role will focus on advancing Gevo's mission to strengthen U.S. energy and food security by maximizing the value of U.S. agriculture and rural communities [2]. - Fitzgerald has nearly 20 years of experience in policy advocacy, having held key positions at the U.S. Environmental Protection Agency and other organizations, which will support Gevo's goals in clean fuels and rural job creation [3]. Group 2: Company Commitment and Strategy - Gevo aims to deliver value through energy innovation and carbon abatement, reinforcing its commitment to American-grown resources [4]. - The company operates one of the largest dairy-based renewable natural gas facilities in the U.S. and an ethanol plant with carbon capture and sequestration capabilities, positioning itself as a leader in energy innovation [5]. Group 3: Market Position and Economic Impact - Gevo's business model focuses on developing and operating production facilities that create jobs and revitalize rural communities, contributing to economic growth [5]. - The company employs a market-driven "pay for performance" approach regarding carbon and sustainability attributes, ensuring value delivery to the local economy [5].

Financial Data and Key Metrics Changes - The company ended Q4 2024 with $259 million in cash, cash equivalents, and restricted cash [54] - Combined operating revenue and other net income for Q4 was $8.9 million, with a full year total of $32.7 million [54] - The company reported a loss from operations of $19.6 million in the last quarter, with a non-GAAP adjusted EBITDA loss of $11.3 million [55] Business Line Data and Key Metrics Changes - The RNG subsidiary generated $15.8 million in revenue during the year [54] - Gevo North Dakota is producing approximately 67 million gallons of low carbon ethanol annually, including 2 million gallons of ultra-low carbon intensity corn fiber ethanol [58] - The carbon intensity score for the North Dakota plant is about 21 grams of CO2 per megajoule, making it one of the lowest in the industry [59] Market Data and Key Metrics Changes - The company expects to secure a final LCFS carbon intensity score from CARB in Q1 2025, which will unlock more value and better margins for the RNG project [54] - The ATJ60 project in South Dakota has received a conditional commitment for a loan guarantee totaling $1.46 billion, with a total borrowing capacity of $1.63 billion including capitalized interest [12] Company Strategy and Development Direction - The acquisition of Gevo North Dakota is seen as a game changer, allowing the company to monetize carbon abatement and tax credits immediately [10] - The company is focusing on modularization to replicate its ATJ plants, aiming to convert existing ethanol plants into ATJ facilities [36] - Gevo is pursuing partnerships to develop and commercialize its ethanol to jet fuel technology, leveraging its intellectual property and existing relationships [49] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving positive adjusted EBITDA in 2025, driven by the acquisition of Gevo North Dakota and expected tax credits [55] - The company is closely monitoring the Summit pipeline issue, which could impact project economics [15] - Management highlighted the importance of aligning interests with farmers supplying the ethanol plant, emphasizing regenerative agricultural practices [60] Other Important Information - The company is targeting financial close for its project-level capital raise by the end of 2025, which includes the DOE loan and project-level equity capital raising [21] - The ATJ60 project is expected to create significant regional economic development, generating over $100 million annually once operational [32] Q&A Session Summary Question: What are the equity investor options for the SPV side of the Net Zero One opportunity? - Management indicated a range of potential investors from strategic to specialty funds and classic financial funds [68] Question: Does some of this need to be arranged to close the DOE loan? - Yes, commitments are a prerequisite to reach financial close [69] Question: What are the options to monetize carbon capture expansion at North Dakota? - Options include bundling CCS value with renewable fuel or participating in the carbon dioxide removal credits market [75] Question: How are recent tariff announcements impacting potential costs for the ATJ60 project? - Management stated that recent tariffs are not impacting project costs significantly [82] Question: Can you provide thoughts on leveraging the La Verne facility in the future? - Management mentioned they have ideas for the facility but cannot disclose details yet [91] Question: What has been holding up the DOE process and what is the timeline? - Delays were attributed to environmental requirements and the transition period, with expectations to complete the process within the year [98][101] Question: Who is helping to bank the $800 million equity raise? - The company is working with Guggenheim and Citi for the equity raise [102]