Gevo gets extension on US energy department's loan commitment for sustainable aviation fuel project

Oct 14 (Reuters) - Gevo GEVO.O said on Tuesday it has secured an extension from the U.S. Department of Energy on its conditional commitment to guarantee a $1.46 billion loan for the renewable fuels company's aviation fuel project in Lake Preston, South Dakota.

The extension granted by the department's loan programs office pushes the deadline to April 16, 2026, allowing time to evaluate potential changes to the project scope.

Among the proposed modifications is the construction of a lower cost 30 million gallon-per-year jet fuel facility 'ATJ-30' at Gevo's existing ethanol and carbon capture site in North Dakota.

Last year, the U.S. DOE approved conditional loan guarantee commitments totaling nearly $3 billion for two sustainable aviation fuel (SAF) projects for Calumet CLMT.O and Gevo.