Gevo gets DOE loan guarantee extension until April with possible transfer to North Dakota

In Colorado, Gevo, Inc. previously announced on October 16, 2024, that it secured conditional commitment from U.S. Department of Energy Loan Programs Office to guarantee a $1.46 billion loan, excluding $167 million in capitalized interest during construction, for its ATJ-60 synthetic aviation fuel project (formerly known as Net-Zero 1) in Lake Preston, South Dakota. On October 8, 2025, the company received a letter from the DOE LPO granting an extension of the Conditional Commitment until April 16, 2026. The extension allows the Company and DOE LPO to evaluate certain potential modifications to the project scope under the Conditional Commitment in order to address energy policies and priorities. The Conditional Commitment will remain effective during the extension period in order to allow for modifications which satisfy the DOE LPO. The potential scope modifications include the construction of a lower cost 30 million gallon per year jet fuel production facility (“ATJ-30”) to develop jet fuel production at the Company’s existing ethanol and carbon capture utilization and storage facility in North Dakota and the optimal use of captured carbon dioxide for enhanced oil recovery.