Gevo Inc. on Aug. 11 released second quarter results, reporting positive net income and positive adjusted EBTIDA for the period. The company also confirmed it is prioritizing development of a 30 MMgy ethanol-to-jet project in North Dakota.&nbsp;During an earnings call, Gevo CEO Patrick Gruber said the company is “very focused” on its design for a 30 MMgy alcohol-to-jet project, which will be collocated at Gevo’s recently acquired corn ethanol plant in North Dakota. Gruber said the North Dakota site is particularly attractive for development of the project due to its carbon capture assets.&nbsp;Development of the proposed 60 MMgy ethanol-to-jet project planned for development in Lake Preston, South Dakota, is also “plugging along, albeit slowly,” Gruber said. He noted the company has been working with the U.S. Department of Energy and customers and is currently waiting to see what happens with the proposed Summit Carbon Solutions pipeline project. “We are done with the engineering on it and have shifted resources to the ATJ 30 plant,” Gruber said.&nbsp;Christopher Ryan, president and chief operating officer at Gevo, said the North Dakota ethanol plant continues to run well. The facility processed 5.7 million bushels of corn during the second quarter, producing 17 million gallons of ethanol. The facility also produced 52,000 tons of high-protein animal feed and more than 5 million pounds of distillers corn oil. The associated carbon capture business sequestered more than 40,000 metric tons during the second quarter.&nbsp;Ryan also briefly discussed operations at Gevo’s Iowa-based renewable natural gas (RNG) business. The company has partnered with three dairy farms and produced 92,000 million Btus of RNG during the second quarter.&nbsp;Gevo reported net income attributable to the company of $2.1 million for the second quarter. EBTIDA was $17 million. Revenue was up $14 million when compared to the same period of last year, and earnings per share were at 1 cent.&nbsp;

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Gevo Inc. on Aug. 11 released second quarter results, reporting positive net income and positive adjusted EBTIDA for the period. The company also confirmed it is prioritizing development of a 30 MMgy ethanol-to-jet project in North Dakota. 

Gevo shifts resources to proposed North Dakota SAF project

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