Gevo announced on Tuesday, October 14, 2025, that it has obtained an extension from the U.S. Department of Energy on its conditional commitment to guarantee a $1.46 billion loan for the company’s sustainable aviation fuel project in Lake Preston, South Dakota.
The extension preserves the Department’s loan guarantee, which is a key component of the financing package for the ATJ‑60.00 alcohol‑to‑jet facility that is designed to produce 60 million gallons of sustainable aviation fuel per year. The guarantee is intended to support the project’s capital expenditures and to provide lenders with a credible backstop for the $1.46 billion loan.
By extending the guarantee deadline, Gevo maintains its ability to secure the necessary debt financing to move the Lake Preston project toward construction and commercial operation, thereby reducing financing risk and supporting the company’s goal of achieving positive adjusted EBITDA in 2025.
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