Wedoany.com Report-Aug. 15, On August 11, Gevo Inc. announced its financial results for the second quarter, achieving a net income of $2.1 million and an adjusted EBITDA of $17 million. The company’s revenue increased by $14 million compared to the same period last year, with earnings per share reaching 1 cent.

Gevo is advancing its sustainable fuel initiatives, with a strong focus on a 30 million gallons per year (MMgy) ethanol-to-jet fuel project in North Dakota. During the earnings call, CEO Patrick Gruber stated: “We are very focused on our design for a 30 MMgy alcohol-to-jet project.” The project will be located at Gevo’s recently acquired corn ethanol plant in North Dakota, selected for its access to carbon capture infrastructure, which supports the company’s sustainability goals.

The company is also developing a proposed 60 MMgy ethanol-to-jet project in Lake Preston, South Dakota. Gruber noted: “We are done with the engineering on it and have shifted resources to the ATJ 30 plant.” Progress on this project is steady but slower, as it depends on developments related to the Summit Carbon Solutions pipeline project. Gevo continues to collaborate with the U.S. Department of Energy and other partners to advance this initiative.

At the North Dakota ethanol facility, operations remain robust. Christopher Ryan, president and chief operating officer, reported: “The North Dakota ethanol plant continues to run well.” In the second quarter, the plant processed 5.7 million bushels of corn, yielding 17 million gallons of ethanol, 52,000 tons of high-protein animal feed, and over 5 million pounds of distillers corn oil. Additionally, the facility’s carbon capture operations sequestered more than 40,000 metric tons of carbon during the period.

Gevo’s renewable natural gas (RNG) operations in Iowa also performed well. In partnership with three dairy farms, the company produced 92,000 million Btus of RNG in the second quarter, contributing to its portfolio of renewable energy solutions.

Gevo’s focus on sustainable fuel production and carbon management underscores its commitment to advancing clean energy technologies. The company continues to optimize its operations and prioritize projects that align with environmental and economic objectives.