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Stock impact report

Gevo secures biogas supply and receives commitment letter for financing

Gevo, Inc (GEVO)  More Company Research Source: GlobeNewswire
Last gevo, inc earnings: 11/12 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.gevo.com
PDF ENGLEWOOD, Colo., Jan. 15, 2020 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) (the “Company”) announced today that it has contracted with three dairies to provide manure that the Company will convert into pipeline quality biogas (“Renewable Natural Gas”). Combined, these three dairies expect to generate approximately 350,000 MMBTU biogas per year for sale to off-takers or use by the Company’s affiliate, Agri-Energy, LLC, at its advanced biofuel production facility located in Luverne, Minnesota (the “Luverne Facility”).  The quest of the Company is to reduce and eliminate the fossil footprint caused by running the Luverne facility. These biogas contracts, in conjunction with wind power, should enable any biofuel produced at the Luverne facility to have a lower carbon intensity score as well as an increased value.  Currently, the Company has a letter of commitment from a lender in the amount of $20 million for financing the Renewable Natural Gas project at one of the three dairies.  [Read more]
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