Working on financing and deployment of SAF projects, says Gevo

Renewable hydrocarbon fuel developer Gevo announced financial results for the first quarter operations wherein it informed that the company is working on securing the funding to deploy its planned sustainable aviation fuel (SAF) projects.

“We continue to believe that SAF offers an excellent market opportunity. We see that jet fuel demand, beyond SAF, is expected to grow. We continue to believe that alcohol-to-jet offers the most scalable and lowest cost of production route. We need to get plants financed and deployed,” said company chief executive officer Dr. Patrick Gruber.

“First, we continue to be engaged with the U.S. Department of Energy on financing our ATJ-60 project,” he said while adding that “we are translating the designs and engineering from the ATJ-60 to deploy an ATJ plant that can produce 30m gallons per year of jet fuel at our Gevo North Dakota site (“ATJ-30”).”

“Unlike other companies in the ATJ space,” Dr. Gruber added, “we are using tried and true, proven at scale, unit operations to produce jet fuel.”

Earlier in April, Gevo signed offtake agreement with Future Energy Global, under which FEG will acquire from Scope 1 and Scope 3 emissions credits from 10m gallons per year of fuel to be produced at one of its planned facilities.

The company also disclosed that it entered in a agreement with a separate undisclosed party for an additional 5m gallons per year of SAF, without the carbon value or Scope 1 and Scope 3 emissions credits attached.

The carbon abatement for this additional 5 million gallons has been sold to a separate party, not the fuel buyer.