Gevo | Lake Preston Biofuels Project

Overview

Status

Greenfield

Region

North America

Geography

USA

State

South Dakota

Equity Owner

Gevo, Zero6

Proponent

Gevo

Output

Green hydrogen

Renewable gasoline

Sustainable aviation fuel

Type of electricty

Wind

Capacity

60 million gallons/year

Financing

Technology

Technical Advisors

Advisors

Project Contact

Kent Hartwig, Director of State & Local Affairs, Gevo

Lawyers

Project Cost

$1bn

Offtaker

Commercial Operations Date

2025

Decommission Date

FID

December, 2024

Description

Gevo’s Net-Zero Project transforms renewable energy into energy-dense liquids.

It is located on 240 acres of land near Lake Preston, South Dakota. The site is attractive because of its abundant sustainable corn supply, high-protein feed demand, rail transportation, and renewable energy potential.

The name Net-Zero 1 is a reference to the net-zero greenhouse gas emissions expected over the whole life of the fuel products produced, including the burning of the fuel in an engine or boiler.

Gevo expects that Net-Zero 1 would have the capability to produce approximately 60 million gallons per year (MGPY) of liquid hydrocarbons in the form of jet fuel and renewable gasoline.

Renewable wind power will be used for electricity needs. Green Hydrogen is expected to be made from water and renewable electricity. Optionality to bring additional renewable natural gas into the program.

Gevo is partnered with Zero6, a Minneapolis-based renewables developer, which in February 2024 launched a process to raise $340m in project capital for its portion of the project, 20 MW of green hydrogen production adjacent to Net-Zero 1 powered by a 99 MW wind farm located 10 miles from the SAF site.

May 3, 2024

Gevo: Net Zero 1 facility to reach late stages this year

Gevo’s Lake Preston alcohol-to-jet fuel facility in Lake Preston, South Dakota will be financeable this year and reach financial close late this year or early next, executives for the Colorado-based...

November 16, 2023

Feature: Is the U.S. Midwest still navigable terrain for CO2 pipelines?

“We’re just not interested.” That’s the sentiment that echoes through the testimonies of many landowners at an Iowa Utilities Board public hearing on November 7. The hearing is about Summit...

July 25, 2023

Gevo brings in McDermott for SAF facilities

Gevo, Inc. has entered into a Master Services Agreement (MSA) with a subsidiary of McDermott International, Ltd to provide front end engineering and early planning services for Gevo’s development of...

May 30, 2023

Gevo hires chief sustainability officer

Gevo, Inc. has hired Nancy N. Young as chief sustainability officer to lead the sustainability, environmental, and scientific affairs for the company. Nancy is a highly experienced veteran of the...

May 12, 2023

SAF developer eschews high-cost debt and equity to pursue DOE loan guarantee

Gevo, Inc CEO Patrick Gruber said on an earnings call this week that the company, a developer of low carbon fuels and chemicals, will forgo for now the high-cost equity...

February 27, 2023

Gevo finalizes agreement with Zero6 for South Dakota H2 production

Gevo, the Colorado-based producer of liquid hydrocarbons and renewable chemicals, has finalized a Hydrogen Development Services Agreement with Zero6 Energy (formerly Juhl Energy) for the development of a 20 MW...