ENGLEWOOD, Colo., Sept. 19, 2022 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) is happy to announce that the U.S. Department of Agriculture has chosen Gevo’s Climate-Smart Farm to Flight proposal for funding with an award ceiling of as much as $30 million. Gevo’s venture was one of the 70 initiatives chosen by the USDA underneath the primary pool of the Partnerships for Climate-Smart Commodities funding alternative totaling $2.8 billion. The venture goals to create important structural climate-smart market incentives for low carbon-intensity corn in addition to to speed up the manufacturing of sustainable aviation gasoline to cut back the sector’s dependency on fossil-based fuels.
“We are honored that our proposal was selected for funding as part of this historic partnership for Climate-Smart Commodities from the U.S. Department of Agriculture,” says Dr. Paul Bloom, Chief Carbon Officer and Chief Innovation Officer for Gevo. “We look forward to working with the great team of partners we’ve assembled to lower our carbon footprint throughout the entire SAF business system while delivering high-quality carbon accounting and rewarding growers for their contributions.”
The venture will even concentrate on the significance of immutable monitoring and tracing of the carbon-intensity rating beginning on the farm manufacturing degree, by way of biofuels manufacturing, all the way in which to the sale to an airline firm. Gevo plans to perform this with additional growth and implementation of Verity Tracking, a blockchain enabled options platform for carbon monitoring by way of the complete business system.
About Gevo
Gevo’s mission is to remodel renewable power and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be utilized for drop-in transportation fuels equivalent to gasoline, jet gasoline and diesel gasoline, that when burned have the potential to yield net-zero greenhouse fuel emissions when measured throughout the complete life cycle of the merchandise. Gevo makes use of low-carbon renewable resource-based carbohydrates as uncooked supplies and is in a complicated state of growing renewable electrical energy and renewable pure fuel to be used in manufacturing processes, leading to low-carbon fuels with considerably lowered carbon depth (the extent of greenhouse fuel emissions in comparison with normal petroleum fossil-based fuels throughout their life cycle). Gevo’s merchandise carry out as effectively or higher than conventional fossil-based fuels in infrastructure and engines, however with considerably lowered greenhouse fuel emissions. In addition to addressing the issues of fuels, Gevo’s know-how additionally allows sure plastics, equivalent to polyester, to be made with extra sustainable substances. Gevo’s means to penetrate the rising low-carbon fuels market depends upon the worth of oil and the worth of abating carbon emissions that may in any other case improve greenhouse fuel emissions. Gevo believes that its confirmed, patented know-how enabling the use of a range of low-carbon sustainable feedstocks to provide price-competitive low-carbon merchandise equivalent to gasoline elements, jet gasoline and diesel gasoline yields the potential to generate venture and company returns that justify the build-out of a multi-billion-dollar business.
Gevo believes that the Argonne National Laboratory GREET mannequin is the most effective accessible normal of scientific-based measurement for all times cycle stock or LCI.
Learn extra at Gevo’s web site: www.gevo.com
Forward-Looking Statements
Certain statements on this press launch might represent “forward-looking statements” inside the that means of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a range of issues, with out limitation, together with Gevo’s know-how, U.S. Department of Agriculture, the manufacturing of SAF, the attributes of Gevo’s merchandise, and different statements that aren’t purely statements of historic truth. These forward-looking statements are made on the idea of the present beliefs, expectations and assumptions of the administration of Gevo and are topic to important dangers and uncertainty. Investors are cautioned to not place undue reliance on any such forward-looking statements. All such forward-looking statements communicate solely as of the date they’re made, and Gevo undertakes no obligation to replace or revise these statements, whether or not because of this of new info, future occasions or in any other case. Although Gevo believes that the expectations mirrored in these forward-looking statements are affordable, these statements contain many dangers and uncertainties that will trigger precise outcomes to vary materially from what could also be expressed or implied in these forward-looking statements. For an additional dialogue of dangers and uncertainties that might trigger precise outcomes to vary from these expressed in these forward-looking statements, in addition to dangers referring to the business of Gevo generally, see the danger disclosures within the Annual Report on Form 10-Ok of Gevo for the yr ended December 31, 2021, and in subsequent stories on Forms 10-Q and 8-Ok and different filings made with the U.S. Securities and Exchange Commission by Gevo.
Investor and Media Contact
Heather L. Manuel
303-883-1114
[email protected]
