DOE announces conditional commitments for loan guarantees of $3B for Montana Renewables and Gevo

In Washington, as part of the Biden-Harris administration’s Investing in America agenda, the Department of Energy’s (DOE) Loan Programs Office (LPO) announced a conditional commitment for a loan guarantee of up to $1.44 billion to Montana Renewables, LLC (Montana Renewables, or MRL) and a conditional commitment for a $1.46 billion loan guarantee to Gevo Net-Zero 1, LLC (Gevo NZ-1), excluding capitalized interest during construction, to help finance a large-scale corn starch-to-jet fuel facility in Lake Preston, South Dakota.