Gevo and ADM Announce Support of Sustainable Aviation Fuel Production Using Ethanol Pathway

We joined with ADM to announce a new memorandum of understanding (MoU) to support the production of sustainable aviation fuel (SAF) and other low-carbon-footprint hydrocarbon fuels. ADM is a global leader in nutrition and agricultural origination and processing.

The MoU considers the production of both ethanol and isobutanol that would then be transformed into renewable low-carbon-footprint hydrocarbons, including SAF, using our processing technology and capabilities. About 900 million gallons of ethanol produced at ADM’s dry mills in Columbus, Nebraska, and Cedar Rapids, Iowa, as well as its Decatur, Illinois, complex are expected to be processed utilizing our technology, resulting in approximately 500 million gallons of SAF and other renewable hydrocarbons. The 900 million gallons of ethanol represents more than half of ADM’s production capacity. ADM’s Carbohydrate Solutions business is focused on new high-growth opportunities that leverage sustainable solutions supported by carbon-capture capabilities, like the company’s net-zero carbon milling footprint in the U.S. The isobutanol is expected to be produced at a proposed new facility in Decatur that would employ ADM’s carbon capture and sequestration capabilities.

Demand for SAF is expected to increase as major U.S. airlines, airports, delivery service companies and freight handlers, and the U.S. government have agreed to work together to advance the use of cleaner sustainable fuels. The U.S. and the EU have set goals that together would support almost 4 billion gallons of annual SAF production in 2030, and more than 45 billion by 2050.

ADM plans to work with us to determine full commercialization plans and enter into definitive agreements enabling a timeline for expected production of SAF to begin in the 2025-2026 timeframe.

Forward-Looking Statements Regarding Gevo, Inc.

Certain statements in this web page may constitute “forward-looking statements” regarding Gevo, Inc. (“Gevo”) within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, statements related to the MOU, the demand for SAF and other hydrocarbon fuels contemplated by the MOU, whether Gevo and ADM will enter into legally binding, definitive agreements to effect the transactions contemplated by the MOU, Gevo’s potential customer contract pipeline, Net-Zero fuels, the gallons of SAF contemplated to be produced under the MOU, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.