Gevo reduces loss in 2017

Gevo Inc (NASDAQ:GEVO) last week reported a net loss of USD 24.6 million (EUR 20m) for 2017, narrowing from USD 37.2 million a year earlier.

Revenues inched slightly up to USD 27.54 million. The sale of ethanol and related products fetched USD 26.3 million of the total, up by nearly 7% year-on-year. Gevo produced 15.6 million gallons of ethanol, 47,000 tonnes of animal feed, and 1,050 tonnes of corn oil.

Hydrocarbon revenues, including sales of jet fuel, isooctane and isooctene, almost halved to USD 1.03 million. The company produced some 206,000 gallons of isobutanol at Luverne, Minnesota, while it sold the equivalent of 49,368 gallons of isobutanol, either directly as isobutanol or as jet fuel, isooctane and isooctene.

Gevo now expects to use its inventory of isobutanol to meet its market development needs in the current year. The company is ready to ramp-up isobutanol production in response to positive demand and price appreciation, it noted.

The focus in 2018 would be on the markets for isobutanol, jet fuel, isooctane, and other products made from isobutanol and ethanol. Gevo’s primary target is to reach binding supply contracts for isobutanol and related hydrocarbon products for the majority of the production volumes at the future expanded Luverne Facility.

(USD 1 = EUR 0.81)

Choose your newsletter by Renewables Now. Join for free!