Gevo announces Red Trail Energy shareholders vote to approve acquisition

Gevo (GEVO) announced that its planned acquisition of the ethanol production plant and carbon capture and sequestration, or CCS, assets of Red Trail Energy, passed a milestone as the equity holders of Red Trail Energy voted overwhelmingly to approve the transaction. Gevo is acquiring the Red Trail Energy ethanol production assets and the CCS assets, both based in Richardton, North Dakota, for $210M in cash, subject to customary closing adjustments. The transaction is expected to close by the first quarter of 2025, subject to receipt of regulatory approvals and the satisfaction of other customary closing conditions, including procurement of financing for the acquisition.