Gevo Wraps Up Q3 With List Of Strategic Partnerships

Despite drops in cash on hand and revenue, and a $14.7 million loss in third quarter, the biofuel manufacturer reports that interest in SAF is growing.

Kimberly Johnson

Thursday, November 11, 2021 at 08:31 PM ET

Verified

Gevo has been delivering SAF to the general aviation market since its first forays into it in December 2020. Gevo

Key Takeaways:

Gevo concluded Q3 with over $522 million in cash and cash equivalents but reported minimal revenue ($0.1 million) and a $14.7 million loss from operations.
The company announced multiple strategic partnerships and agreements, notably with Chevron and Archer-Daniels-Midland, to advance sustainable aviation fuel (SAF) production and expand its customer pipeline to over one billion gallons annually in potential contracts.
Gevo is making progress on its flagship Net-Zero 1 Project, which aims to produce 45 million gallons per year of net-zero liquid hydrocarbons, supporting its goal to deliver over one billion gallons of sustainable fuel by 2030.

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Gevo, a sustainable and low-carbon biofuel manufacturer, wrapped up the third quarter with $522.4 million in cash and cash equivalents and generated $0.1 million in revenue, the company announced Wednesday.

The amount of cash on hand was $44.8 million less than that reported at the end of the second quarter of 2021, according to the company. Gevo also reported $14.7 million third-quarter loss from operations, more than twice the $6.1 million reported during the same period in 2020.