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Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>Accelerated guidance on the timing of financial close of the company’s Net Zero 1 (NZ-1) sustainable aviation fuel (SAF) project.</li><li>Plans to debottleneck the renewable natural gas (RNG) facility.</li><li>A continued strong pace of share repurchases.</li></ul>

Accelerated guidance on the timing of financial close of the company’s Net Zero 1 (NZ-1) sustainable aviation fuel (SAF) project.Plans to debottleneck the renewable natural gas (RNG) facility.A continued strong pace of share repurchases.

GEVO: 2Q24 Results - US DOE Financing "In the Home Stretch"

<ul><li>Gevo has begun repurchasing shares under the company’s previously announced program.</li><li>The company has so far repurchased 5.5 million shares for $3.7 million, leaving $21.3 million available for repurchases.</li><li>Gevo revised spending on its Net-Zero 1 plant project. </li></ul>

Gevo has begun repurchasing shares under the company’s previously announced program.The company has so far repurchased 5.5 million shares for $3.7 million, leaving $21.3 million available for repurchases.Gevo revised spending on its Net-Zero 1 plant project. 

Gevo, Inc. - 1Q24 Results: Share Repurchase Underway

<ul><li>GEVO sold 90,666 MMBtu of RNG in 4Q23, up from 81,271 MMBtu in the previous quarter, which translates to 91% of capacity on an annualized basis, while generating standalone cash EBITDA of $1.3 million, down from $1.7 million in 3Q23.</li><li>The RNG division is expected to achieve $12-16 million in cash EBITDA once the company receives the CARB CI score in 2024.</li><li>This is further expected to increase to $30-38 million if California Low Carbon Fuel Standard (LCFS) prices recover to $200 per metric ton.</li></ul>

GEVO sold 90,666 MMBtu of RNG in 4Q23, up from 81,271 MMBtu in the previous quarter, which translates to 91% of capacity on an annualized basis, while generating standalone cash EBITDA of $1.3 million, down from $1.7 million in 3Q23.The RNG division is expected to achieve $12-16 million in cash EBITDA once the company receives the CARB CI score in 2024.This is further expected to increase to $30-38 million if California Low Carbon Fuel Standard (LCFS) prices recover to $200 per metric ton.

Gevo, Inc. - 4Q23 Results: Primed and Ready for 2024

Thematic (Sector/Industry)

<ul><li>Despite the US biofuels industry facing challenges in 2024, including oversupplied renewable credit markets, lower-than- expected voluntary demand, election uncertainty, and a drop in profits, the industry made progress in many areas, including the advancement of sustainable aviation fuel (SAF) projects and hubs.</li><li>We highlight five biofuel trends that will continue to have an impact in 2025.</li><li>In 2024, the lack of guidance from the US Treasury Department on the 45Z clean fuel tax credit continued to be a key source of concern among biofuels producers, SAF project developers, and farmers.</li></ul>

Despite the US biofuels industry facing challenges in 2024, including oversupplied renewable credit markets, lower-than- expected voluntary demand, election uncertainty, and a drop in profits, the industry made progress in many areas, including the advancement of sustainable aviation fuel (SAF) projects and hubs.We highlight five biofuel trends that will continue to have an impact in 2025.In 2024, the lack of guidance from the US Treasury Department on the 45Z clean fuel tax credit continued to be a key source of concern among biofuels producers, SAF project developers, and farmers.

US Biofuels Outlook - Five Trends to Watch in 2025

<ul><li>The WTR Sustainable Index was down 1.9% W/W versus the S&amp;P 500 Index (up 0.9%), the Russell 2000 Index (up 1.9%) and the Nasdaq Index (up 0.3%).</li><li>Energy Technology (13.2% of the index) was down 0.9%, while Industrial Climate and Ag Technology (48.4% of the index) was up 1.1%, ClimateTech Mining was down 5.8%, and Advanced Transportation Solutions (20.2% of index) was down 5.7%.</li><li>Top 10 Performers: LTBR, AZRE, GEVO, NXH, HTOO, NGPHF, SMR, NRGV, PEGY, FTCI</li></ul>

The WTR Sustainable Index was down 1.9% W/W versus the S&amp;P 500 Index (up 0.9%), the Russell 2000 Index (up 1.9%) and the Nasdaq Index (up 0.3%).Energy Technology (13.2% of the index) was down 0.9%, while Industrial Climate and Ag Technology (48.4% of the index) was up 1.1%, ClimateTech Mining was down 5.8%, and Advanced Transportation Solutions (20.2% of index) was down 5.7%.Top 10 Performers: LTBR, AZRE, GEVO, NXH, HTOO, NGPHF, SMR, NRGV, PEGY, FTCI

Sustainable Investing Surveyor - October 21, 2024

United States

Gevo Inc. operates as a technology development company for biobutanol. The Company offers products that enable the production of fuels for the diesel and jet markets, and the production of green chemicals derived from renewable resources.

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Gevo (GEVO US)

GEVO: 2Q24 Results - US DOE Financing "In the Home Stretch"

Accelerated guidance on the timing of financial close of the company’s Net Zero 1 (NZ-1) sustainable aviation fuel (SAF) project. Plans to...

Water Tower Research

Gevo, Inc. - 4Q23 Results: Primed and Ready for 2024

GEVO sold 90,666 MMBtu of RNG in 4Q23, up from 81,271 MMBtu in the previous quarter, which translates to 91% of capacity on an annualized basis

Water Tower Research

US Biofuels Outlook - Five Trends to Watch in 2025

In 2024, the lack of guidance from the US Treasury Department on the 45Z clean fuel tax credit continued to be a key source of concern among...

Water Tower Research

Sustainable Investing Surveyor - October 21, 2024

The WTR Sustainable Index was down 1.9% W/W versus the S&P 500 Index (up 0.9%), the Russell 2000 Index (up 1.9%) and the Nasdaq Index (up 0.3%).

Water Tower Research

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GEVO: 2Q24 Results - US DOE Financing "In the Home Stretch"

Accelerated guidance on the timing of financial close of the company’s Net Zero 1 (NZ-1) sustainable aviation fuel (SAF) project. Plans to...

Water Tower Research

Gevo, Inc. - 1Q24 Results: Share Repurchase Underway

The company has so far repurchased 5.5 million shares for $3.7 million, leaving $21.3 million available for repurchases.Gevo revised spending on...

Water Tower Research

Gevo, Inc. - 4Q23 Results: Primed and Ready for 2024

GEVO sold 90,666 MMBtu of RNG in 4Q23, up from 81,271 MMBtu in the previous quarter, which translates to 91% of capacity on an annualized basis

Water Tower Research

US Biofuels Outlook - Five Trends to Watch in 2025

In 2024, the lack of guidance from the US Treasury Department on the 45Z clean fuel tax credit continued to be a key source of concern among...

Water Tower Research

Sustainable Investing Surveyor - October 21, 2024

The WTR Sustainable Index was down 1.9% W/W versus the S&P 500 Index (up 0.9%), the Russell 2000 Index (up 1.9%) and the Nasdaq Index (up 0.3%).

Water Tower Research