Gevo says Treasury guidance ‘much-needed step forward for SAF investment’

Dr. Patrick Gruber, CEO of Gevo, issued the following statement regarding the release of the U.S. Department of Treasury’s guidance on the 40B sustainable aviation fuel, or SAF, tax credit: “Gevo greatly appreciates the Biden Administration’s intent to use the Argonne GREET method and model for sustainable aviation fuel (SAF). Today’s guidance is a much-needed step forward for SAF investment and innovation. Designating GREET for the 40B credit sets an accurate, science-based precedent for transparent carbon accounting across the SAF supply chain, from farm fields to the end use of the fuel. The details and certainty matter. Therefore, we look forward to reviewing the complete GREET update upon release to ensure it maintains the data-driven integrity, especially on indirect emissions, necessary to support SAF investment, properly value agriculture’s contributions and cut aviation emissions. We also thank the Administration for its advocacy for climate-smart agriculture and the tools and policies that recognize and account for U.S. farmers’ stewardship of the land and contribution to cleaner flight.”