Gevo receives $1.46 billion loan commitment from U.S. Energy Department for South Dakota fuel plant
Summary: Gevo, Inc. has received a conditional commitment for a $1.46 billion loan guarantee from the U.S. Department of Energy for its Net-Zero 1 sustainable aviation fuel plant in South Dakota. This facility will produce sustainable aviation fuel, protein, and corn oil using U.S.-sourced materials.
The Net-Zero 1 project is the first large-scale alcohol-to-jet facility to receive such a commitment from the DOE. It is expected to create over 1,300 indirect jobs during construction and 100 permanent jobs, contributing more than $100 million annually to the local economy.
The project aims to achieve a net-zero carbon footprint and is seen as a significant step in advancing sustainable aviation fuel technology. However, the final loan guarantee is contingent on meeting various technical and legal conditions.
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