Milestone Reached as Gevo Breaks Ground on Renewable Natural Gas Project in Northwest Iowa
April 30 2021 - 8:00AM
Gevo, Inc. (NASDAQ: GEVO), announced today that it has officially
broken ground on the Renewable Natural Gas (“RNG”) Project, located
in Northwest Iowa, which will generate RNG captured from dairy cow
manure.
“Breaking ground on this project is an exciting step in bringing
Gevo’s Net-Zero strategy closer to life,” said Dr. Patrick Gruber,
CEO of Gevo. “Upon completion of the project in 2022, the digesters
are anticipated to generate approximately 355,000 MMBtu of RNG per
year and reduce significant quantities of methane, a potent
greenhouse gas, from being released into the atmosphere. After the
methane is extracted from the processed manure, the remaining
solids will be returned to the farmers as soil nutrients for use as
fertilizer. This will allow the farmers to reduce their raw manure
application, which will improve odor, water quality and nutrient
management practices.”
About Gevo
Gevo’s mission is to transform renewable energy and carbon into
energy-dense liquid hydrocarbons. These liquid hydrocarbons can be
used for drop-in transportation fuels such as gasoline, jet fuel
and diesel fuel, that when burned have potential to yield net-zero
greenhouse gas emissions when measured across the full life cycle
of the products. Gevo uses low-carbon renewable resource-based
carbohydrates as raw materials, and is in an advanced state of
developing renewable electricity and renewable natural gas for use
in production processes, resulting in low-carbon fuels with
substantially reduced carbon intensity (the level of greenhouse gas
emissions compared to standard petroleum fossil-based fuels across
their life cycle). Gevo’s products perform as well or better than
traditional fossil-based fuels in infrastructure and engines, but
with substantially reduced greenhouse gas emissions. In addition to
addressing the problems of fuels, Gevo’s technology also enables
certain plastics, such as polyester, to be made with more
sustainable ingredients. Gevo’s ability to penetrate the growing
low-carbon fuels market depends on the price of oil and the value
of abating carbon emissions that would otherwise increase
greenhouse gas emissions. Gevo believes that its proven, patented
technology enabling the use of a variety of low-carbon sustainable
feedstocks to produce price-competitive low-carbon products such as
gasoline components, jet fuel and diesel fuel yields the potential
to generate project and corporate returns that justify the
build-out of a multi-billion-dollar business.
Gevo believes that the Argonne National Laboratory GREET model
is the best available standard of scientific-based measurement for
life cycle inventory or LCI.
Learn more at Gevo’s website: www.gevo.com
Forward-Looking Statements
Certain statements in this press release may constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements relate to a variety of matters including, without
limitation, the development and construction of the RNG Project,
the ability of Gevo to realize production of RNG from the RNG
Project, Gevo’s ability to generate cash from the RNG Project, and
other statements that are not purely statements of historical fact.
These forward-looking statements are made on the basis of the
current beliefs, expectations and assumptions of the management of
Gevo and are subject to significant risks and uncertainty.
Investors are cautioned not to place undue reliance on any such
forward-looking statements. All such forward-looking statements
speak only as of the date they are made, and Gevo undertakes no
obligation to update or revise these statements, whether as a
result of new information, future events or otherwise. Although
Gevo believes that the expectations reflected in these
forward-looking statements are reasonable, these statements involve
many risks and uncertainties that may cause actual results to
differ materially from what may be expressed or implied in these
forward-looking statements. For a further discussion of risks and
uncertainties that could cause actual results to differ from those
expressed in these forward-looking statements, as well as risks
relating to the business of Gevo in general, see the risk
disclosures in the Annual Report on Form 10-K of Gevo for the year
ended December 31, 2020, and in subsequent reports on Forms 10-Q
and 8-K and other filings made with the U.S. Securities and
Exchange Commission by Gevo.
Investor and Media Contact +1 720-647-9605
IR@gevo.com
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