Gevo rises as company weighs expansion at North Dakota ethanol facility

Shares of U.S.-based renewable fuels company Gevo GEVO.O rise 5.8% to $2.66

Company says developing plans for a potential expansion at the site of its Gevo North Dakota (GND) site by adding a second ethanol production facility with targeted production capacity of up to 75 million gallons/year (MGPY) of low-carbon ethanol

GEVO expects GND site to produce about 150 MGPY of low-carbon ethanol, more than 400,000 metric tons of captured CO₂, and additional animal feed and corn oil

"We believe that with this expansion we can efficiently deploy capital, reduce risk and expand our carbon business while producing clean, low-carbon fuels and coproducts," says Paul Bloom, President of Gevo

Including session's move, GEVO up 33.25% YTD