In Colorado, Gevo announced that the firm now has more than 375 million gallons per year of financeable SAF and hydrocarbon fuel supply agreements, which based on current market projections and operating assumptions, represent approximately $2.3 billion in expected revenue per year, inclusive of the value of environmental benefits.
In its quarterly earnings release, the firm said that it recorded revenues of $309,000 in the third quarter of the year, up from $120,000 in the year-ago period. The firm also said that loss from operations of reached $43.7million for the quarter, which compared to a loss of $14.7 million in Q3 2021.
On September 15, 2022, Gevo held a groundbreaking ceremony at the future site of its first commercial-scale sustainable aviation fuel facility known as Net-Zero 1 (“NZ-1″) to be constructed in Lake Preston, South Dakota.
Patrick Gruber, Gevo’s CEO, said “We are moving forward on our NZ-1 site in Lake Preston, South Dakota. Temporary roads are being constructed around the location while significant volumes of dirt are being moved in advance of initial foundation work. We are planning to get as much of this preliminary infrastructure done as possible before winter weather in South Dakota limits consistent access to the site. We are excited to be making visible progress on NZ-1 and we will finalize engineering plans as well as the debt financing package for the project over the next few quarters. Once that is complete, the pace of construction activities are expected to increase significantly.”
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