Gevo receives extension to $1.46B loan commitment from DOE

Gevo (GEVO) previously announced on October 16, 2024, that it secured conditional commitment from U.S. Department of Energy Loan Programs Office to guarantee a $1.46B loan for its ATJ-60 synthetic aviation fuel project in Lake Preston, South Dakota. On October 8, 2025, the company received a letter from the DOE granting an extension of the conditional commitment until April 16, 2026. The extension allows Gevo and the DOE to evaluate certain potential modifications to the project scope in order to address energy policies and priorities, the company disclosed last night in a regulatory filing. The conditional commitment will remain effective during the extension period in order to allow for modifications. The potential scope modifications include the construction of a lower cost 30 million gallon per year jet fuel production facility 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, Gevo added. The stock in morning trading is up 3% to $2.63.