Red Trail Energy’s equity holders approve Gevo acquisition

In Colorado, Gevo announced that its planned acquisition of the ethanol production plant and carbon capture and sequestration assets of Red Trail Energy, LLC passed an important milestone as the equity holders of Red Trail Energy voted overwhelmingly to approve the transaction. This acquisition will accelerate Gevo’s mission to transform renewable carbon and photosynthetic energy into net-zero liquid transportation fuels and chemicals while abating carbon.

Gevo is acquiring the Red Trail Energy ethanol production assets and the CCS assets, both based in Richardton, North Dakota, for $210 million in cash, subject to customary closing adjustments. The transaction is expected to close by the first quarter of 2025, subject to receipt of regulatory approvals and the satisfaction of other customary closing conditions, including procurement of financing for the acquisition. Gevo expects that these businesses, with the capability to create and deliver valuable biogenic carbon credits in conjunction with the delivery of advanced liquid fuels should deliver superior value to its shareholders.