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Gevo | Lake Preston Biofuels Project | Net-Zero 1

USA
Greenfield

Overview

Status
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Greenfield
Region
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North America
Geography
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USA
State
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South Dakota
Equity Owner
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Gevo, Zero6
Proponent
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Gevo
Output
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Green hydrogen
Renewable Gasoline
Sustainable aviation fuel
Type of electricty
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Wind
Capacity
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60 million gallons/year
Financing
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Technology
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Technical Advisors
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Advisors
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Project Contact
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Kent Hartwig, Director of State & Local Affairs, Gevo
Lawyers
-
Project Cost
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$1bn
Offtaker
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Commercial Operations Date
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2025
Decommission Date
-
FID
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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.

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