Gevo Files New S-3 Ahead of Expiration, Updates ATM Agreement
January 16 2024 - 3:01PM
Gevo, Inc. (NASDAQ: GEVO) announced today that it filed a
registration statement on Form S-3 with the U.S. Securities and
Exchange Commission (“SEC”). Such registration statement is subject
to review and being declared effective by the SEC.
The Company’s current Form S-3 is set to expire this Friday,
January 19th, subject to applicable grace periods. Gevo filed the
new S-3 as a matter of course in advance of that expiration. In
conjunction with the new S-3 filing, Gevo signed a new agreement
for the Company’s At-the-Market (“ATM”) offering facility. The
Company’s previous $500 million ATM offering facility has not been
used since the filing with the SEC of the prospectus supplement for
such facility on September 9, 2021. The S-3 filing does not impact
Gevo’s expected, and previously communicated, strategy of funding
the Net-Zero 1 project with a combination of its existing cash on
the balance sheet and project-level financing.
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 StatementsCertain 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, statements related to the
filing of a registration statement on Form S-3, the execution of an
At-the-Market Offering Agreement, the financing of the Net-Zero 1
project and the utilization of the ATM facilities. These
forward-looking statements are made based on 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, 2022
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.
IR Contact Eric Frey IR@gevo.com
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