Gevo provides company and project updates
Summary
Gevo is in the process of developing additional plant sites to meet demand under its existing SAF and hydrocarbon supply agreements, and some of the proceeds are expected to be used to advance those efforts. The benefit is having audited, transparent, immutable sustainability data attached to biofuels and is expected to be valuable to our customers, colleague companies, and partners. Our recent decision to issue equity was made to ensure Gevo’s balance sheet could withstand the challenging financial markets that we expect over the next two years while continuing to move forward with our NZ projects. As we move closer to FID and financial close on the debt component for NZ1, it should be clear to investors that Gevo has the capital needed to execute its development plan and that the value proposition of the SAF that will be produced by NZ1 is remarkable. Over time, as demand from the aviation industry continues to exceed supply, there should be opportunities for early movers, like Gevo, to create additional, accretive partnerships that will benefit our stockholders.”