Gevo to Celebrate Net Zero 1 Groundbreaking in September
by Erin Voegele (Biomass Magazine) Gevo Inc. plans to host a groundbreaking ceremony in September to kick off the initial site work phase at its proposed Net Zero 1 facility under development in Lake Preston, South Dakota, according to comments made by CEO Patrick Gruber during a second quarter earnings call held Aug. 8.
The proposed Net Zero 1 facility will have the capacity to produce 62 MMgy of low-carbon fuels, including 55 MMgy of sustainable aviation fuel (SAF).
Gevo closed on the purchase of a 245-acre site for the project in July. Gruber said the company expects to order long-lead equipment for the facility during the fourth quarter of this year and close its design, build, own, operate and manage (DBOOM) contracts for wind power and green hydrogen.
Gruber noted that a final investment decision and financial close on the debt component of the project is expected to occur around mid-2023. “We expect to have one or more equity partners in the project at that time, which preserves Gevo capital for the NZ program development,” he added. READ MORE
Gevo launches Net-Zero 1 with South Dakota land purchase (Biofuels International)
