Gevo (GEVO) Surges with $1.46 Billion Loan Guarantee for Net-Zero 1 Project

Oct 17, 2024

Gevo (GEVO, Financial) is experiencing a significant rise in its stock price, climbing nearly 40% in pre-market trading to reach $3.14. This marks an impressive 94% increase over the year for the company.

The surge in stock value follows the announcement that Gevo has secured a conditional loan guarantee of $1.46 billion from the U.S. Department of Energy's Loan Programs Office. This funding is allocated for Gevo's ambitious Net-Zero 1 project located in South Dakota. The project aims to develop sustainable energy solutions, aligning with Gevo's commitment to reducing carbon emissions.

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