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Gevo ( (GEVO) ) has provided an announcement.
Gevo, Inc. has announced a definitive agreement to buy Red Trail Energy’s assets, including a low-carbon ethanol production plant and carbon capture and sequestration (CCS) facilities, for $210 million. This move aligns with Gevo’s strategy to boost net-zero hydrocarbon fuel production and is expected to make a positive impact on the company’s Adjusted EBITDA by 2025. The acquisition promises to expand Gevo’s reach in the sustainable aviation fuel market and enhance its carbon abatement capabilities, while retaining around 50 employees from Red Trail Energy and driving economic growth in rural communities. The transaction is anticipated to close by the first quarter of 2025, pending regulatory and shareholder approvals as well as financing arrangements.
Learn more about GEVO stock on TipRanks’ Stock Analysis page.
