Gevo (GEVO) Lytham Partners Spring 2026 Investor Conference summary

Business overview and strategy

• Focuses on sustainable aviation fuel (SAF) and synthetic aviation fuel, leveraging decades of team experience in energy, bio-based fuels, and sustainability.

• Operates multiple business segments: ethanol and co-products with carbon capture, Alcohol-to-Jet (ATJ) fuel, digital traceability (Verity), and renewable natural gas (RNG) from dairy methane.

• Pursues scalable SAF production by converting ethanol from plant sugars into jet fuel, aiming for high jet fuel yield compared to traditional refineries.

• Strategic partnerships with companies like LG Chem and Axens support technology scaling and efficiency improvements.

• Emphasizes drop-in, low-carbon products that match fossil fuel performance but with traceable, sustainable origins.

Financial performance and growth plans

• Achieved $16 million EBITDA last year, driven by ethanol, carbon capture, and RNG operations.

• Targets $40 million annual run-rate EBITDA through operational efficiency and segment expansion.

• North Dakota acquisition provided ethanol production and carbon capture capacity, with plans to double segment earnings.

• Carbon capture operations inject about 170,000 tons CO2/year, with capacity for 1 million tons; plans to grow via increased production and third-party volumes.

• Generates revenue from both regulatory (LCFS) and voluntary (CDR) carbon markets, with customers including Nasdaq, PayPal, and Bank of Montreal.

Technology and project development

• Licensed existing ATJ technologies and launched the ATJ30 project to convert ethanol to SAF at scale.

• Project North Star in North Dakota aims to serve as a showcase for capital providers and future plant replication.

• Envisions building multiple ATJ plants, leveraging the large U.S. ethanol plant base to meet rising jet fuel demand.

• Policy support from both major U.S. political parties and recent biofuel-related tax credits bolster industry prospects.

• Proven track record as the first to produce, certify, and fly Alcohol-to-Jet fuel at demo scale.