The following is a summary of the Gevo, Inc. (GEVO) Q4 2023 Earnings Call Transcript:
Financial Performance:
Gevo reported a Q4 2023 combined revenue and interest income of $9.4m, boosted by higher interest rates.
The firm ended Q4 with a solid liquidity position of $375.6m in cash, restricted cash, and other liquid investments.
Corporate spending came to $25.5m for 2023, excluding non-cash stock-based compensation of $17.1m.
Gevo's debt related to the Renewable Natural Gas (RNG) project totaled $68m.
Gevo invested and capitalized $13.5m in various capital projects during the Q4 2023.
Business Progress:
Gevo is making progress on securing a loan guarantee from the U.S. Department of Energy Loan Program for its Net-Zero 1 project.
It sold 90,666 MMBtu of RNG from its dairy assets in Northwest Iowa, garnering revenue of $4.4m.
The company is nearing positive cash flow, due to the rise in RNG and Verity.
Gevo is actively advocating for carbon abatement measures.
The firm is working on delivering EPC contracts and sealing a DOE project loan to start the construction of Net-Zero 1, which is projected to take 24 months.
Gevo plans to leverage its knowledge about lower carbon ethanol and SAF production from the development of NZ1 across other U.S. ethanol plants.
It is also planning to expand its renewable natural gas capacity, having increased its manure RNG capacity from about 350,000 to 400,000 MMBtu's per year.
More details: Gevo Inc IR
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