Surprising Positive EBITDA
Achieved adjusted EBITDA positive results faster than anticipated, with a net income per share of $0.01 for the second quarter.
Strong Revenue Performance
Combined operating revenue, interest, and investment income was $44.7 million, with Gevo North Dakota generating $17.1 million in income from operations.
Successful Monetization of Carbon and Tax Credits
Generated $1 million from carbon dioxide removal credits and $22 million from clean fuel production credits, with plans to increase CDR credit sales to $3-5 million by the end of the year.
RNG and Ethanol Production Strength
Gevo RNG generated $1.5 million in operating income, and North Dakota operations produced 17 million gallons of ethanol, 52,000 tons of animal feed, and 5 million pounds of corn oil.
Partnerships and Technological Advancements
Partnership with LANXESS for soybean crop carbon intensity tracking and progress in developing ethanol to olefins technology with LG Chem and Axens.