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GEVO Announces $350 Mn Common Stock Offering (Ind. Report)
GEVO
Date: 2021-01-22
Englewood, Colorado-based biobutanol and ethanol producer GEVO, Inc. reports it has entered into definitive agreements with institutional and accredited investors for the sale of an aggregate of 43,750,000 shares of common stock at a purchase price of $8.00 per share in a registered direct offering priced at-the-market under Nasdaq rules.

The offering is expected to gross $350 million, prior to placement fees and expenses. The net proceeds will be used to fund capital projects, working capital and for general corporate purposes.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. Citigroup is acting as capital markets advisor to GEVO. (Source: GEVO, Website PR, 20 Nov., 2020) Contact: GEVO Inc., Patrick Gruber, CEO, 303-858-8358, pgruber@gevo.com, www.gevo.com

More Low-Carbon Energy News GEVO,  


GEVO Net-Zero 1 Project Slated for South Dakota (Ind. Report)
GEVO,Gevo
Date: 2021-01-13
Englewood, Colorado-based biobutanol and ethanol producer GEVO Inc. is touting the concept of Net-Zero (carbon emissions) Projects for the production of energy dense liquid hydrocarbons using renewable energy and the company's proprietary technology.

A Net-Zero Project aims to convert renewable energy such as photosynthetic, wind, renewable natural gas (RNG), biogas, from various sources into energy dense liquid hydrocarbons that achieve net-zero greenhouse gas (GHG) emissions across the fuel's whole lifecycle -- from the way carbon is captured from the atmosphere, and processed to make liquid transportation fuel products.

Net-Zero 1 to be constructed at Lake Preston, South Dakota is expected to have a capacity of 45 MMgy of hydrocarbons (for gasoline and jet fuel, based on current take-or-pay contracts) and to produce more than 350 million ppy per year of high protein feed products as well as produce sufficient renewable natural gas (RNG) to meet production process needs.

Net-Zero 1 is projected to come in at roughly $700 million including the hydrocarbon production and related renewable energy infrastructure which includes anaerobic digestion to produce biogas to run the plant and generate electricity on-site. (Source; GEVO, PR, 11 Jan., 2021.

In other GEVO news as of December 31, 2020, the company paid off the outstanding balance of $12.7 million in 12 pct convertible senior secured notes and reduced the group's general corporate secured debt balance to zero, according to a GEVO release.

As reported on 8 Jan., GEVO Inc. has contracted with Koch Industries' Houston-headquartered subsidiary Koch Project Solutions, LLC to provide front-end engineering, design and project execution management services for the expansion projects that GEVO is in the process of financing with Citigroup Global Markets, Inc. (Source: GEVO Inc., Jan, 2021) Contact: GEVO Inc., Patrick Gruber, CEO, 303-858-8358, pgruber@gevo.com, www.gevo.com

More Low-Carbon Energy News GEVO,  Gevo,  Net Zero Emissions,  RNG,  Alternative Fuel,  


GEVO Contracts Koch for Expansion Projects (Ind. Report)
GEVO
Date: 2021-01-11
Englewood, Colorado-headquartered ethanol and isobutanol producer GEVO Inc. reports it has contracted with Koch Industries' Houston-headquartered subsidiary Koch Project Solutions, LLC to provide front-end engineering, design and project execution management services for the expansion projects that GEVO is in the process of financing with Citigroup Global Markets, Inc.

"GEVO's focus is on drop-in renewable resource-based hydrocarbons with a massively reduced carbon footprint. These hydrocarbons are the same as those derived from fossil-based oil, except that we make them from renewable resources. Because we use renewable resources, we can see how to reduce and eliminate tailpipe emissions, on a net-carbon basis and also reduce or even eliminate the pollutants that contribute to smog," GEVO CEO Patrick Gruber noted. (Source: GEVO, PR, 6 Jan., 2021) Contact: Koch Project Solutions, www.kochprojectsolutions.com; GEVO Inc., Patrick Gruber, 303-858-8358, pgruber@gevo.com, www.gevo.com

More Low-Carbon Energy News Gevo,  Renewable Fuel,  Biofuel,  


Gevo Inc. Offers Business Update (Ind. Report)
Gevo,GEVO
Date: 2020-09-11
Englewood, Colorado-headquartered Gevo, Inc. provided the following 8th Dept. update on its business and strategic plan:

  • Gevo recently raised approximately $46 million, net of expenses, from a Registered Direct Offering and approximately $16 million as a result of warrant exercises. This capital infusion substantially improves Gevo's ability to execute on its strategic plans.

  • Gevo continues to pursue a licensing and developer strategy that is expected to enable the construction of up to three production facilities and capacity expansions. The production facilities and expansions are needed to provide the product required under its existing and expected, future take-or-pay, off-take agreements. The licensing and developer strategy should reduce or eliminate the need for Gevo construction capital by utilizing project-level debt and third-party equity.

  • Gevo continues to seek a targeted capital raise of $200 million of project-level equity using a project financing structure to build up to three production facilities. The first expanded production facility or project is expected to be located at Gevo's current production facility located in Luverne, Minnesota.

  • As previously announced, Gevo engaged Citigroup Global Markets Inc. to lead a process to develop the three projects and procure the capital needed by Gevo to build up to three production facilities. Gevo expects it will take approximately one year to develop and close the financing for the first project. Assuming Gevo successfully closes on a financing in the next 12 months, Gevo would expect production of hydrocarbon fuels from the first project in late 2023 or early 2024.

    Additionally, Gevo noted it currently has approximately $81 million in cash on the balance sheet and will continue to develop the marketplace and try to create additional customer demand for its next generation of renewable premium gasoline, jet fuel and diesel fuel products that have the potential to achieve zero carbon emissions, while addressing the market need of reducing greenhouse gas emissions with sustainable alternatives. (Source: Gevo, PR, Website News, 8 Sept., 2020)Contact: Gevo Inc., Patrick Gruber, CEO, 303-858-8358, pgruber@gevo.com, www.gevo.com

    More Low-Carbon Energy News GEVO,  Gevo,  


  • GEVO Inc. Provides Business Update (Ind. Report)
    GEVO,Gevo
    Date: 2020-09-09
    Englewood, Colorado-headquartered GEVO Inc. provided the update on its business and strategic plan today, 8 Sept.:

  • GEVO recently raised approximately $46 million, net of expenses, from a Registered Direct Offering and approximately $16 million as a result of warrant exercises. This capital infusion substantially improves the company's ability to execute on its strategic plans.

  • GEVO continues to pursue a licensing and developer strategy that is expected to enable the construction of up to three production facilities and capacity expansions. The production facilities and expansions are needed to provide the product required under its existing and expected, future take-or-pay, off-take agreements. The licensing and developer strategy should reduce or eliminate the need for GEVO construction capital by utilizing project-level debt and third-party equity.

  • GEVO continues to seek a targeted capital raise of $200 million of project-level equity using a project financing structure to build up to three production facilities. The first expanded production facility or project is expected to be located at Gevo's facility in Luverne, Minnesota.

  • As previously announced, GEVO engaged Citigroup Global Markets Inc. to lead a process to develop the three projects and procure the capital needed by the company to build up to three production facilities. GEVO expects it will take approximately one year to develop and close the financing for the first project. Assuming Gevo successfully closes on a financing in the next 12 months, GEVO would expect production of hydrocarbon fuels from the first project in late 2023 or early 2024.

    Additionally, the GEVO release noted it currently has approximately $81 million in cash on the balance sheet and will continue to develop the marketplace and try to create additional customer demand for its next generation of renewable premium gasoline, jet fuel and diesel fuel products that have the potential to achieve zero carbon emissions, while addressing the market need of reducing greenhouse gas emissions with sustainable alternatives. (Source: Gevo, PR, Website News, 8 Sept., 2020)Contact: Gevo Inc., Patrick Gruber, CEO, 303-858-8358, pgruber@gevo.com, www.gevo.com

    More Low-Carbon Energy News GEVO,  Isobutanol,  SAF,  Aviation Biofuel,  


  • Citigroup Targets $250Bn for Low-Carbon Activities (Ind. Report)
    Citigroup
    Date: 2020-07-31
    NYC-headquartered banking giant Citigroup Inc., the 4th largest US bank by assets, reports it aims to lend $250 billion for low-carbon renewable energy, clean technology, water quality and conservation, sustainable transportation, green buildings, energy efficiency, circular economy and sustainable agriculture and land use over the next five years.

    The bank noted it is working to measure, manage and reduce the climate risk and impact of its portfolio of clients and to that end is is participating in the development and rollout of the Partnership for Carbon Accounting Financials, a framework that will help it measure the carbon footprint of its lending portfolios. Additionally, Citi is testing the methodology for the 2016 Paris Agreement Capital Transition Assessment, a tool that will enable it to look at its most carbon-intensive sectors and clients and measure their progress toward reducing global warming.

    Citigroup is also aiming for a 45 pct CO2 emission reduction reduction in its operations by 2025 from a 2010 baseline and, to that end, aims to only use renewable electricity to power its facilities globally by the end of 2020.

    In 2019, Citigroup assets totaled $1.951 trillion, equity totaled $193 billion and net income came in at $19.471 billion. (Source: Citigroup, PR, MarketScreener, 29 July, 2020) Contact: Citigroup, www.citigroup.com

    More Low-Carbon Energy News Citigroup,  Low Carbon Energy,  


    Citigroup Assisting GEVO with Financing (Ind. Report)
    GEVO,Citigroup Global Markets
    Date: 2020-04-03
    Englewood, Colorado-based biobutanol producer GEVO Inc reports it has engaged Citigroup Global Markets, Inc. to assist in exploring financing for its operations.

    Gevo is looking for financing to expand its production capabilities to supply its renewable jet fuel and isooctane pursuant to Gevo's "take or pay" contracts with Delta Air Lines, Inc. and HCS Group GmbH.. (Source: GEVO, PR, 2 April, 2020)Contact: Citigroup Global Markets Inc., www.citibank.com/mss/solutions/citi-futures/global-markets-inc; GEVO, Patrick Gruber, CEO, 303-858-8358, pgruber@gevo.com, www.gevo.com

    More Low-Carbon Energy News Gevo,  GEVO,  Jet Fuel,  Aviation Biofuel,  SAF,  


    Earth Capital Quits UK Energy Efficiency Investments Fund (Int'l)
    Earth Capital
    Date: 2019-02-08
    Earth Capital reports its Nobel Sustainability Fund has exited the UK Energy Efficiency Investments Fund (UKEEI) through the sale of the Fund's assets via a December, 2018, £100 million IPO.

    Earth Capital's Nobel Sustainability Fund was invested in UKEEI alongside the Green Investment Bank, Earth Capital investee SDCL EEco (SDCL), the European Investment Bank and other institutional LPs.

    Earth Capital made a series of pioneering investments in the UK Energy Efficiency market including LED lighting, Combined Heat and Power and biomass heat. Companies in the UK benefiting from the Fund's investment include Santander Bank, Citigroup, Moy Park, NCP, and St Bartholomew's Hospital, all of which had energy efficient products installed by the Fund. (Source: Earth Capital, Private Equity Wire, 7 2019) Contact: Nobel Sustainability Growth Fund, Earth Capital UK Ltd., Gordon Power, CEO, info@earthcapital.uk, www.earthcapital.uk/nobel-sustainability-growth-fund

    More Low-Carbon Energy News Energy Efficiency,  Earth Capital,  


    Citigroup Green Bond to Support Renewables Projects (Ind. Report)
    Citigroup
    Date: 2019-01-30
    US banking giant Citigroup Inc is touting its initial €1 billion ($1.14 billion) "green" bond offering aimed at financing renewable energy and other environmental projects including energy efficiency, green buildings, sustainable transportation, water quality and conservation.

    The projects will be supported as part of Citi's 2015, $100-billion (€87.6 billion) environmental finance goal which aims to lend and facilitate $100 billion over 10 years towards environmental activities leading to a low-carbon economy.

    Citigroup owns or leases over 57 million square feet of real estate in over 7,900 properties including its new NYC global headquarters currently under construction to LEED Platinum energy efficiency certification standards. (Source: Citigroup, Renewables, 29 Jan., 2019) Contact: Citigroup Inc., www.citigroup.com

    More Low-Carbon Energy News Citigroup,  Energy Efficiency,  Renewable Energy,  Green Bond,  

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