Gevo’s Net-Zero 1 reaches key milestone
Gevo has announced that its Net-Zero 1 ethanol-to-jet project has been invited by the UUS Department of Energy to the due diligence and term sheet negotiation phase for a $950 million (€1.1 billion) loan guarantee under the Title 17 Clean Energy Financing Programme.
The invitation was based on the DoE’s determination that Gevo’s Net-Zero 1 Project is highly qualified and suitable for a loan guarantee from the DOE.
Dr Patrick Gruber, Gevo CEO, said: “Most importantly, this milestone signifies the commencement of the underwriting phase for the debt financing process.
“We believe that reaching this stage with the DOE is a critical milestone and illustrative of Gevo’s progress in developing Net-Zero 1. We are excited to be working with the DOE on a process that supports our mission to deliver Sustainable Aviation Fuel (SAF) to the marketplace.”
Source Link: https://biofuels-news.com/news/gevos-net-zero-1-reaches-key-milestone/
