Gevo is a renewable fuels company focused on producing low-carbon ethanol and, ultimately, SAF. Gevo's core asset is GevoND, an ethanol plant in Richardton, North Dakota running at roughly 67 MMGPY of ethanol capacity. The plant produces ethanol, high-protein animal feed, and corn oil, and sits atop a Class VI carbon capture and sequestration well currently sequestering around 165,000 metric tons of CO2 per year. Gevo also operates an RNG facility in Iowa that converts dairy manure into biogas. Gevo's business model layers multiple revenue streams on top of its ethanol production: it sells ethanol and co-products, transfers Section 45Z clean fuel production tax credits to corporate taxpayers, sells certified carbon dioxide removal credits through Puro.earth, and earns LCFS credits and RINs from low-carbon fuel programs. A key feature of the model is the ability to either bundle or separate the carbon value from the physical fuel, depending on which channel generates the best return. Gevo's primary growth priority is building an ATJ-30 plant at GevoND — a 30 MMGPY SAF facility that would convert onsite ethanol into jet fuel. Gevo also owns Verity, a software platform for carbon intensity tracking and carbon attribute monetization across agricultural supply chains, which Gevo uses internally and is beginning to commercialize as a SaaS product for other biofuel producers.