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Stock Market & Financial Investment News

News Breaks
January 2, 2013
09:28 EDTGEVOGevo announces $15M stock repurchase program
Gevo announced that its board has approved a stock repurchase program that authorizes Gevo to repurchase up to $15M of its common stock over a one-year period. The company expects to fund its stock repurchase program with existing cash and cash equivalents on hand.
News For GEVO From The Last 14 Days
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September 18, 2014
16:24 EDTGEVOGevo begins to produce, ship isobutanol in railcar volumes
Gevo reported an update on the progress of the Side-by-Side operational mode, or SBS, of its plant in Luverne, MN. With the completion of the last phase of capital for SBS, Gevo has begun to produce and ship isobutanol in railcar volumes. In its Q2 quarter earnings release, Gevo reported that it would be installing distillation equipment at the plant, representing the final phase of capital for the SBS. This equipment facilitates the extraction of isobutanol from the plant, which should enable Gevo to boost production levels of isobutanol by debottlenecking the downstream side of the plant. This distillation equipment was commissioned in early September and is already showing improved results at the plant, such as a doubling of isobutanol batch sizes, a 50% reduction in isobutanol batch turnaround times, consistent yields of >90% based on starch content, and a continued decrease in isobutanol production costs towards targeted economic rates. "By installing the last phase of capital at Luverne, we remain confident that we will be able to achieve production levels of 50K-100K gallons of isobutanol per month by the end of 2014. As we continue to learn and optimize the isobutanol production process, we believe we can ultimately increase our production rate to approximately 2M-3M gallons of isobutanol per annum under the SBS, while we are producing ethanol in the other three fermenters," said CEO Patrick Gruber.

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