August 14, 2024
BY Erin Voegele
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Gevo Inc. on Sept. 12 announced it has entered into a definitive agreement to acquire the ethanol production plant and CCS assets of Red Trail Energy LLC for $210 million. Gevo plans to add net-zero SAF production capacity to the site.
The USDA maintained its forecast for 2024-’25 soybean oil use in biofuel production in its latest WASDE report, released Sept. 12. The estimates for 2022-’23 and 2023-’24 soybean oil use in biofuel production were revised up.
The USDA reduced its forecast for soybean production in its latest monthly Crop Production report, released Sept. 12. Record highs, however, are expected for both soybean yields and soybean production for beans.
On Sept. 11, SK Energy, the largest refiner in South Korea and a subsidiary of SK Innovation, announced the completion of the nation’s first dedicated sustainable aviation fuel (SAF) production line.
Agricultural Secretary Tom Vilsack announced the release of a SAF Grand Challenge fact sheet on Sept. 11 at the North American SAF Conference & Expo. The DOE also opened a $12 million funding opportunity to support integrated biorefineries.