Gevo’s Sustainable Aviation Fuel Well-Positioned in Light of New Guidance from Treasury Department

Updated Argonne GREET method and model recognizes carbon abatement from climate-smart agriculture, carbon capture and storage, which Gevo plans to leverage to deliver net-zero or carbon-negative SAF

ENGLEWOOD, Colo., April 30, 2024 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) has issued a response to the recently unveiled version of the Argonne National Laboratory Greenhouse Gases, Regulated Emissions, and Energy use in Technologies (GREET) method and model for carbon accounting. This model will be utilized for lifecycle greenhouse gas emissions calculations under the Inflation Reduction Act's (IRA) Section 40B sustainable aviation fuel (SAF) tax credits.

“Today's guidance reinforces the importance of climate-smart agriculture and other decarbonization methods like carbon capture and storage (CCS) – core tenets of Gevo’s business model for sustainable aviation fuel and other products,” said Dr. Patrick R. Gruber, CEO of Gevo. “Our cutting-edge programs source sustainable feedstocks produced using a variety of climate-smart agricultural practices, and our Verity carbon accounting tool allows farmers to incorporate and track emissions reduction practices tailored to their individual fields. We look forward to sharing key insights from anonymized data to inform the Administration’s upcoming 45Z SAF tax credit guidance – and we will continue to advocate for science-based policies that support CCS and provide new markets for farmers focused on carbon abatement from agricultural activities.”

For nearly two decades, Gevo has led the research and development of new fuels and products that support the decarbonization of transportation and help industries reach their net-zero goals, including agriculture. Gevo has advocated for use of GREET as the science-based carbon accounting tool to determine the lifecycle carbon intensity of SAF and ensure important emissions reductions throughout the SAF supply chain – including from climate-smart agriculture practices and carbon capture and storage – are accounted for and credited, while maintaining GREET’s data-driven integrity.

Gevo’s wholly owned subsidiary, Verity, uses distributed ledger technology to facilitate accurate accounting of emission reduction efforts from on-farm practices, including on a field-level basis. This auditable technology allows farmers to track and report the carbon reductions they achieve, including through climate-smart agriculture and other practices. Gevo partners with farmers using Verity to work collaboratively to identify emissions reductions opportunities that are tailored to field-level needs.