Gevo acquired Red Trail Energy's ethanol plant and carbon capture assets for $210 million, providing potential for sustainable aviation fuel production and projected annual EBITDA of $30-60 million.
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Gevo Inc (NASDAQ:GEVO) shares are trading higher Thursday after the company announced it received a conditional commitment from the U.S. Department of Energy (DOE).
Shares of Calumet and Gevo are on the move in extended trading Wednesday after the companies received conditional commitments from the U.S. Department of Energy (DOE).
Gevo is acquiring ethanol and carbon capture assets from Red Trail Energy for $210 million, expanding their carbon abatement capabilities and potential for sustainable aviation fuel production in the U.S. and Canada. The acquisition is expected to lead to positive Adjusted EBITDA in 2025 with combined earnings from ethanol, RNG, and other ventures.
Gevo, Inc. (NASDAQ: GEVO) shares are trading higher Thursday following the announcement of the company's agreement to acquire Red Trail Energy's ethanol production plant and carbon capture and sequestration (CCS) assets for $210 million. This acquisition expands Gevo's platform for sustainable aviation fuel (SAF) production and other renewable energy projects, accelerating its mission to produce net-zero hydrocarbon fuels.
