# EDGAR Filing Document

**Accession Number:** 0001392380
**File Stem:** 0001104659-25-088462
**Filing Date:** 2025-9
**Character Count:** 32397
**Document Hash:** 7e5c2c8b8243b9da09c62736555d97d7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-088462.hdr.sgml**: 20250909

**ACCESSION NUMBER**: 0001104659-25-088462

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 45

**CONFORMED PERIOD OF REPORT**: 20250909

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250909

**DATE AS OF CHANGE**: 20250909

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gevo, Inc.
- **CENTRAL INDEX KEY:** 0001392380
- **STANDARD INDUSTRIAL CLASSIFICATION:** INDUSTRIAL ORGANIC CHEMICALS [2860]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 870747704
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35073
- **FILM NUMBER:** 251301702

**BUSINESS ADDRESS:**
- **STREET 1:** 345 INVERNESS DRIVE SOUTH, BUILDING C
- **STREET 2:** Suite 310
- **CITY:** ENGLEWOOD
- **STATE:** CO
- **ZIP:** 80112
- **BUSINESS PHONE:** 303-858-8358

**MAIL ADDRESS:**
- **STREET 1:** 345 INVERNESS DRIVE SOUTH, BUILDING C
- **STREET 2:** Suite 310
- **CITY:** ENGLEWOOD
- **STATE:** CO
- **ZIP:** 80112

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Gevo Inc
- **DATE OF NAME CHANGE:** 20070307

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

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**FORM 8-K**

**CURRENT REPORT**

**Pursuant** **to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): September 9, 2025**

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**Gevo, Inc.**

**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Delaware** | **001-35073** | **87-0747704** |
| **(State or other jurisdiction** | **(Commission** | **(I.R.S. Employer** |
| **of incorporation)** | **File Number)** | **Identification No.)** |

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| |
|:---|
| **345 Inverness Drive South** **, Building C, Suite 310 <br> Englewood, CO 80112** |
| **(Address of principal executive offices)** |

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Registrant's telephone number, including area code: **(303) 858-8358**

**Not Applicable**

**(Former name or former address, if changed since last report.)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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| |
|:---|
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

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Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading <br> Symbol(s)** | **Name of each exchange <br> on which registered** |
| **Common stock (Par Value $0.01)** | **GEVO** | **The Nasdaq Stock Market LLC** |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 §CRF 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure.** |

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On September 9, 2025, Gevo, Inc. (the "Company") posted to its website (<u>investors.gevo.com</u>) a revised investor presentation. A copy of the investor presentation is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information furnished under this Item 7.01, including Exhibit 99.1, will not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

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| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

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*(d) Exhibits.* 

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| | |
|:---|:---|
| **Exhibit<br> No.** | **Description** |
| [99.1](tm2525612d1_ex99-1.htm) | [Investor Presentation](tm2525612d1_ex99-1.htm) |
| 104 | Cover Page Interactive Data File (Formatted as Inline XBRL) |

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **GEVO, INC.** | **GEVO, INC.** |
| September 9, 2025 | By: | /s/ E. Cabell Massey |
|  | Name: | E. Cabell Massey |
|  | Title: | Vice President, Legal and Corporate Secretary |

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## Exhibit 99.1

**Exhibit 99.1**

![](tm2525612d1_ex99-1img001.jpg)

Gevo, Inc. NASDAQ: GEVO A diversified energy company and leading developer of synthetic aviation fuel (SAF) NASDAQ: GEVO

![](tm2525612d1_ex99-1img002.jpg)

This communication contains "forward - looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as defined in the Private Securities Litigation Reform Act of 1995. Forward - looking statements may be identified by the context of the statement and generally arise when the Company or its management is discussing its beliefs, estimates or expectations. Such statements generally include words such as "believes," "expects," "intends," "anticipates," "estimates," "continues," "may," "plan," "will," "goal," or similar expressions. Forward - looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of our management about future events and are therefore subject to risks and uncertainties, many of which are outside the Company's control, which could cause actual results to differ materially from what is contained in such forward - looking statements as a result of various factors, including, without limitation: the expected operational and financial synergies from the operation of Gevo North Dakota with the former Red Trail Energy, LLC assets; expected financial results (including adjusted EBITDA potential and expectations); competitiveness of Gevo's products; demand for Gevo's products; and other factors that could affect the Company's business. These and other factors are identified and described in more detail in the Company's Annual Report on Form 10 - K for the year ended December 31, 2024, as well as the Company's subsequent filings and is available online at www.sec.gov. Readers are cautioned not to place undue reliance on the Company's projections and other forward - looking statements, which speak only as of the date thereof. Except as required by applicable law, the Company undertakes no obligation to update any forward - looking statement, or to make any other forward - looking statements, whether as a result of new information, future events or otherwise. Forward Looking Statement 2

![](tm2525612d1_ex99-1img003.jpg)

3 Experienced Team • More than 180 years of collective relevant experience • Fermentation businesses • Chemical processing businesses • Plant operations • Renewable energy and bio - fuels • Renewable product market development and commercialization • Responsible for multiple products take from concept to full commercial plants and businesses • First to commercialize renewable plastics (polylactic acid or PLA) • Biogas and RNG • Organic acids for food and chemicals • Glycols for feed, food and chemicals • Specialty fuels and chemicals • Specialty feed and products (e.g., amino acids and sweeteners) Chris Ryan, PhD Chief Operating Officer Patrick Gruber, PhD Chief Executive Officer and Director Leke Agiri Chief Financial Officer Paul Bloom, PhD Chief Business Officer Lindsay Fitzgerald Chief Advocacy & Communications Officer Kimberly Bowron Chief People & IT Officer Responsible means: Executive supervisor, member of team, project manager, and or leader

![](tm2525612d1_ex99-1img004.jpg)

4 Diversified Energy Businesses With a Common Thread Scalable • Leverages existing infrastructure for feedstocks and products Cost effective • Let nature do the work. Our ATJ jet fuel is cash cost of production competitive with fossil jet fuel. Enables marketing of new attributes • Carbon abatement • Other sustainability attributes Our USA Value Chain Sugars Alcohols Drop - in Fuels & Chemicals Protein & Feed Non - food Corn We provide scalable, cost - effective solutions, delivering drop - in products that abate carbon Regenerative Agriculture Local, Rural Communities • Low carbon ethanol & co - products • Carbon capture • SAF Platform: convert alcohol - to - jet • Software - as - a - Service (SaaS) • Track - and - Trace through complex value chain • Methane capture from dairy manure • Optionality to supply GevoFuels • +300 patents • Convert alcohols to drop - in fuels and chemicals • Strategic alliances with high quality partners

![](tm2525612d1_ex99-1img005.jpg)

Our Footprint 5 \* In - Process of being sold to A.E. Innovation, LLC \*\*Owned by Trecora Hydrocarbons LLC, formerly by South Hampton Resources, Inc. Historically operated in partnership with Gevo to produce SAF and bio - octane from Gevo's alcohol production in Luverne, MN. \*\*\*Project under development pending full construction financing. Received conditional commitment from DOE for a loan guarantee facility in 2024. Headquarters Englewood, CO R&D, Demo Facility\* Luverne, MN Ethanol, Isobutanol , Food, Wind Silsbee, TX Facility\*\* SAF, Bio - Octane Dairy Manure RNG Northwest, IA Captured Methane Verity Carbon Tracking MRV Gevo North Dakota Low - Carbon Ethanol Future Home of ATJ - 30 Richardton, ND Gevo North Dakota Carbon Capture Richardton, ND ATJ - 60 Project\*\*\* Lake Preston, SD Food, SAF, Renewable Diesel and Bio - Naptha

![](tm2525612d1_ex99-1img006.jpg)

(1) Based on Argonne - R&D - GREET model. (2) Based on pore space lease agreements. 500 Acre Site North Dakota: Low - Carbon Ethanol Today, SAF Tomorrow Low - Carbon Ethanol Capacity Carbon Intensity Carbon Capture (Capacity / Usage) 67 million gallons, including ultra - low CI corn fiber ethanol <20 gCO2e/MJ (1) 1 million metric tons per year capacity (2) / currently using ~16%

![](tm2525612d1_ex99-1img007.jpg)

CO 2 Mineralization & Dissolution 1000 years geological storage Stored CO 2 Steel Casing & Durable Cement to protect freshwater aquifer Freshwater Aquifer 7 1 Million Metric Tons of CO 2 Sequestration Capacity (1) Capacity based on pore space lease agreements . Current utilization ~16%. • CO 2 injected into onsite Class VI well into porous rock layers ~1.3 miles (~2,000 meters) below ground becomes mineralized and dissolved into the rock. • The integrity of the caprock, combined with strategically placed well perforations only within the permitted injection zone , ensures that CO₂ remains securely contained — preventing any upward migration towards water table . • Stored carbon is certified as 1000+ year permanent carbon credits by Puro.earth • Safely and continuously monitored at both the injection and monitoring well while helping to develop next generation monitoring tech with RITE.

![](tm2525612d1_ex99-1img008.jpg)

8 The Corn We Use Isn't The Kind That Humans Eat https://www.nass.usda.gov/Publications/Todays_Reports/reports/acrg0624.pdf?utm_source=chatgpt.com ; https://nebraskacorn.gov/corn - 101/growing - corn/ Total US Corn Production ~1% sweet corn, popcorn, white corn Popcorn Field Corn Generates Large Quantities of Protein, Oil, and Carbohydrates (our raw material) Sweet Corn 99% Field Corn

![](tm2525612d1_ex99-1img009.jpg)

9 Products from Corn to Fuel Conversion Amounts are shown by weight. 1/3 1/3 1/3 Ethanol ( Jet Fuel, Diesel) High Protein Animal Feed Carbon Dioxide – CO 2 Field Corn

![](tm2525612d1_ex99-1img010.jpg)

10 EBITDA is Generated from The Primary Fuel Products AND Co - Products Milling Fermentation Carbon Abatement Low - Carbon Animal Feed and Protein Low - Carbon Corn Oil Low Carbon Corn ATJ Process Biogenic CO 2 /Carbon Abatement Jet fuel Diesel Fuel, Naptha RINS Low Carbon Ethanol Net Carbohydrate Co - Products 45z State level Incentives and Credits Skills Required Regenerative Agriculture Bioprocessing Chemical Processing Fuels ▪ Carbon Abatement Marketing and Sales ▪ Regulatory and Tax Valorization ▪ Feed and Food Product Marketing ▪ Operations of both bioprocessing and chemical plants ▪ IP, Engineering, and Plant Design ▪ Supplier Relationships ▪ Tracking and Tracing Services ▪ Commodity Trading ▪ Marketing and Brand Owner Management ▪ Project Development 45z RINS State Level Incentives and Credits Today Future Growth Platform

![](tm2525612d1_ex99-1img011.jpg)

11 CO2 is a Co - Product We Can Monetize in Multiple Ways (1) LCFS prices based on recent ranges of British Columbia, Alberta, Oregon Washington and California. CDR prices based on a ver age prices listed on https://www.cdr.fyi/ using Bioenergy with Carbon Capture and Sequestration credits (illustrative range shown with $200 per metric ton, the reported aver age price, as the midpoint). Carbon Dioxide Removal (CDR) Markets Low Carbon Fuel Standard (LCFS) Markets Biofuels sold in non - LCFS markets; CDRs can be detached and sold on a global marketplace without double counting Biofuels can be transported to these end markets with the CCS value attached How it works Examples Canada (national Clean Fuel Reg), British Columbia, Washington, Oregon and California + other potential states End Users $100 – 300 per metric ton Enhances our optionality and our revenue stability $50 – 200 per metric ton Illustrative Prices There are two primary end markets to monetize our carbon value. By optimizing the mix, we can maximize value and serve the greatest demand.

![](tm2525612d1_ex99-1img012.jpg)

12 Large Potential Adjusted EBITDA Growth (Prior to deploying ATJ plants) (1) Adjusted EBITDA potential is based on information currently available to the Company and based on certain assumptions made by th e Company. Such figures are estimated consistent with relevant past practice. Adjusted EBITDA is a non - GAAP measure calculated by adding back depreciation and amortization, allocated intercompany expenses f or shared service functions, non - cash stock - based compensation, and the change in fair value of derivative instruments to GAAP income (loss) from operations as well as monetized tax credits, if any . W e are unable to provide a reconciliation of adjusted EBITDA potential to the most comparable GAAP measure without unreasonable effort because estimating such GAAP measures and providing a meaningful reconcil iat ion is extremely difficult and requires a level of precision that is unavailable for these future periods, and the information needed to reconcile these measures is dependent upon future events, many of whi ch are outside of our control. (2) A reconciliation of adjusted EBITDA to GAAP income (loss) from operations for the three and six months ended June 30, 2025 is pr ovided in the Appendix. • Potential from Carbon Value by optimizing current production based on existing 165,000 mt of carbon captured currently. But potential is to capture 1 million tons per year by generating more CO 2 on site or by bringing third party volumes to the site. • Plan to sell to a mix of Voluntary Carbon Dioxide Removals Credits (CDRs) or using the carbon value in regulatory markets if that value is greater. • Potential to debottleneck and grow current production of ethanol and corresponding CO 2 production Adjusted EBITDA Potential from optimizing current production (1) ($ in millions, annualized) ($45) Adjusted EBITDA Potential from expanding current production, before deploying ATJ plants (1) ($ in millions, annualized) As of 2Q25, we achieved a run rate adjusted EBITDA of $20 million. See Appendix for Further Details and Non - GAAP EBITDA Reconciliations. (2) Net Total Net Total (-) (+) (+) (-) $9 $10 $110 $41 $10 $9 $13 $64 $41 $10 $40 $64 $78 $5

![](tm2525612d1_ex99-1img013.jpg)

13 Strong Capitalization Combined $127mm cash, equivalents and restricted cash ($ in millions) June 30, 2025 Cash and cash equivalents $57 Restricted Cash 70 Property, Plant and Equipment, Net 345 Total Assets 702 Remarketed Bonds Payable, Net 68 Loans Payable (Secured by GevoND) 100 Total Stockholder's Equity 474

![](tm2525612d1_ex99-1img014.jpg)

Why We Like SAF (Jet Fuel) and Especially ATJ 14

![](tm2525612d1_ex99-1img015.jpg)

15 Jet Fuel Demand is Increasing, Gasoline Decreasing US Jet Fuel Demand US Gasoline Demand Compare to: The Alcohol - to - Jet process targets +90% jet fuel yield in its product stream

![](tm2525612d1_ex99-1img016.jpg)

Cost Effective: Alcohol - to - Jet is the Most Competitive Cash Cost of Production to make SAF Cash cost of production represents total economic cost of production before capital cost. Does not include federal and state in centives. Based on work done by an independent global consulting firm, Nexant , Cancawe - Aramco, and Gevo analysis. SAF production cash cost shown before Federal and state incentives such as RINs, LCFS, 45Z and other state SAF tax credits, and before new capital cost. AtJ SAF cost assumes approximately $5.00/ bu corn for illustrative purposes; estimates dependent on feedstock prices and other assumptions. SAF Cash Cost of Production vs. Fossil Jet Fuel Price ATJ SAF cash cost of production is expected to be competitive with fossil jet fuel prices, even though ATJ SAF can deliver 100% or more carbon abatement per gallon Gevo's proprietary integrated process design and technologies lead to most favored competitive position We use proven and fully scaled up unit operations The future of aviation is Alcohol - to - Jet ; it's the most competitive on a cash cost of production basis Three plant de signs a vailable : 30 MGPY, 60 MGPY , and 150 MGPY SAF Fossil Jet Fuel Gevo ATJ Project 16 HEFA

![](tm2525612d1_ex99-1img017.jpg)

30 MGPY ATJ Production Expected to Add Significant Value to Ethanol Sites Adjusted EBITDA potential is based on information currently available to the Company and based on certain assumptions made by th e Company. Such figures are estimated consistent with relevant past practice. Adjusted EBITDA is a non - GAAP measure calculated by adding back depreciation and amortization, allocated intercompany expenses f or shared service functions, non - cash stock - based compensation, and the change in fair value of derivative instruments to GAAP income (loss) from operations as well as monetized tax credits, if any. We ar e u nable to provide a reconciliation of adjusted EBITDA potential to the most comparable GAAP measure without unreasonable effort because estimating such GAAP measures and providing a meaningful reconciliation is e xtr emely difficult and requires a level of precision that is unavailable for these future periods, and the information needed to reconcile these measures is dependent upon future events, many of which are outside of ou r control. • Must use the low cost (Gevo) production technology and plant design • Additional carbon abatement of +300,000 tons can be generated by manufacturing jet fuel with a zero CI • Carbon value must be captured through voluntary and regulatory markets • Co - product value must be captured • Increase use of CCUS • Maximize production volumes 17 Pre - ATJ Net Adjusted EBITDA Total (+) (+) ~$150M/y ATJ Adjusted EBITDA Contribution • 50MGPY of Ethanol produces 30MGPY of jet fuel • 30MGPY of production is "minimum" economic size to achieve economies of scale • 60 MGPY would require 100MGPY of ethanol and generate about 2x the Adjusted EBITDA (little economies of scale) $X

![](tm2525612d1_ex99-1img018.jpg)

18 Ethanol Infrastructure Can Be Leveraged for ATJ Platform • 0.15 million barrels per day, or 2.3 billion gallons per year, of new jet fuel demand by 2035 • Requires +70 Alcohol - to - Jet facilities, each producing 30 million gallons of jet fuel per year • Would consume 3.5 billion gallons of ethanol from plant starch – a renewable domestic resource US Ethanol Facilities Map (~180 in operation) +70 Alcohol - to - Jet Facilities Needed to Meet Jet Fuel Demand For Each Site: • +$100M/y EBITDA • +$70M/y regional impact • +400 - 600 jobs, direct and indirect • More uses for US corn

![](tm2525612d1_ex99-1img019.jpg)

![](tm2525612d1_ex99-1img020.jpg)

Developing the playbook and first plant in parallel for copy - edit - paste growth of ATJ30s, globally. • Low cost plant design and deployment • IP - Leveraging the 300+ patents and know - how gained over the last 18 years of ATJ development • Low cost production processes • Serve US, EU, and Asian markets • SAF Marketing & Value Maximization • Carbon Capture and Utilization • Policy at International, Federal, State, Local levels • Verity Tracking – Reducing the complexity of Measure - Report - Verify (MRV) from field - to - wing that captures the carbon abatement value along the entire supply chain so value can be maximized and captured 20 Project North Star: The Initiative to Drive EBITDA Growth Without Depending on 45z Credits SAF Marketing and Sales Proprietary Integrated Plant Designs Ready - to - order Modules Financing and Execution Support IP Technology & Business System Ops and Services Carbon Tracking + Carbon Business Site Development and Decarbonization Putting the pieces together to deliver: ATJ - 30 Serial No. 1 ATJ - 30 Playbook for Copy - Edit - Paste + Partnership Network Expected to provide Blueprint for Growth, and Enable Rapid Expansion of EBITDA

![](tm2525612d1_ex99-1img021.jpg)

Grow the EBITDA of Gevo ND to achieve greater EBITDA (even before ATJ - 30 project) Gevo North Dakota is a foundation Develop carbon markets for our 1 million/t per year of capacity Get the first large scale ATJ plant built adding further EBITDA to Gevo ND Finance, then build a modular ATJ - 30 at Gevo North Dakota Copy Paste ATJ plants (either licensor/developer model or Build Own Operate) In US Around the world 21 What's Next: Develop North Star and Grow AEBITDA

![](tm2525612d1_ex99-1img022.jpg)

Appendix

![](tm2525612d1_ex99-1img023.jpg)

Field & Farm Level Inputs Truck Scale Milling and Protein Production Ethanol Production Product Storage Product Transport Corn Storage Proprietary DLT Based Reporting Engine Proprietary DLT based technology merged to carbon tracking, and delivering verifiable sustainability metrics and carbon intensity Verifiable Sustainability Attributes (e.g., carbon value) that can be monetized Verifiable Info and Data for ESG or Other Reports, and regulatory reporting AUDITABLE TRACEABLE IMMUTABLE Product Usage To Maximize Value: Verifiable Track and Trace is Required Connects Sustainable Food and Energy with the World 23 Sustainability Attributes x Cover crops x Reduced till x Nitrification inhibitor x Spring - only fertilizer x Not from converted forest / prairie x Insecticide x Herbicide x Soil organic carbon

![](tm2525612d1_ex99-1img024.jpg)

24 We're Making Complicated Tracking Simple • Measure sustainability attributes of every supplier • Track and Trace attributes through complex supply chains • Manage farm inventory • Data - driven decisions • Audit trail First Revenue accomplished Seven Customers have signed agreements (5 corn, 2 soybean processors) $1.5 – 3 billion initial market opportunity (1) Capital light growth model SaaS Fees and profit sharing revenue model (1) Based on US ethanol production plants market size of over 15 billion gallons per year. Potential value pool dollar amoun t l ower bound based on assuming half of US plants achieving a 10 CI point reduction valued at $0.02 per gallon per CI point under 50 gCO2e/MJ und er 45Z tax credit.

![](tm2525612d1_ex99-1img025.jpg)

25 Our 2Q Results Signified a Transformational Step - Up to Baseline Results Adjusted EBITDA potential is based on information currently available to the Company and based on certain assumptions made by th e Company. Such figures are estimated consistent with relevant past practice. Adjusted EBITDA is a non - GAAP measure calculated by adding back depreciation and amortization, allocated intercompany expenses for shared service functions , n on - cash stock - based compensation, and the change in fair value of derivative instruments to GAAP income (loss) from operations as well as monetized tax credits, if any. A reconciliation of adjusted EBITDA to GAAP income (loss) from oper ati ons for the three and six months ended June 30, 2025 is provided in the Appendix. $17 2Q 2025 Adjusted EBITDA 21 Less: CFPC Contribution 10 Plus: Expected recurring CFPC ~5 Equals: Expected Adjusted EBITDA, Run - Rate $20 Expected Run - Rate Adjusted EBITDA, Annualized (58) Compare to: 2024 Adjusted EBITDA $78 million Implied Expected Step - Up, Annualized Revenue Step - Up ($ in millions) Adjusted EBITDA Step - Up ($ in millions) +760% +$38 million Acquisition of Gevo North Dakota (partial quarter) Gevo RNG Carbon Intensity Improvement Verity has achieved first revenue Beginning of first CFPC, CDR sales Verity being deployed at Gevo North Dakota

![](tm2525612d1_ex99-1img026.jpg)

Gevo Has a Track Record & Trusted Name in Fuels & Chemicals We have over 300 patents and proprietary plant designs with proven technologies . Many Firsts in Alcohol to Hydrocarbons, Chemicals, Net - Zero and Carbon Negative Technologies 2011 • First to produce alcohol - to - jet (ATJ) and gasoline at Demonstration Plant scale • First to make fully renewable p - xylene and PET for bottles, films, and fibers 2010 • First to make fully renewable synthetic butylene rubber. • First to make renewable AvGas 2008 First to make alcohol to hydrocarbon fuels in lab mini plant 2018 First ATJ Business Aviation off - take agreement (AvFuel) 2022 First to design a large scale Net Zero ATJ plant 2020 First to obtain certification from Roundtable for Sustainable Biomaterials (RSB) 2021 First to publish peer reviewed LCA of ATJ 2019 • First to receive ISCC+ Global Sustainability Certification for ATJ • First long - term, take - or - pay ATJ agreement (Delta Air Lines) • First to design an integrated net - zero alcohol and hydrocarbons plants with off - the - grid capability 2023 First to fly ATJ in India on commercial carrier 2017 • First commercial sale of renewable premium gasoline • First ATJ in Australia, flown by Virgin Australia • First ATJ to fly 1 million km 2016 • First to obtain ASTM approval for ATJ • Fly Green Day at O'Hare, all flights flew ATJ 2015 • First to Fly with ATJ made From wood waste, flown by Alaska Airlines • First Commercial sale of IBA blended gasoline at retail 2014 • First ATJ SAF flights (US Navy Warthog) • First to alcohol to polymer grade biobased propylene from alcohol 2014 • First successful demonstration of side - by - side commercial scale production of ethanol and isobutanol • First commercial sale of isooctane for F1 racing 2012 First to prove commercial isobutanol (IBA) fermentation at scale 26

![](tm2525612d1_ex99-1img027.jpg)

Project Manager Co - Founder, COO and CTO Co - Founder, CTO  Three separate plants (fermentation + two chemical plants) were successfully designed and integrated to process corn into high quality specialty product – polymer for packaging, fibers and bottles  Marketed sustainability benefits to "brand owners" in order to drive pull - through for the product (e.g., Walmart)  Tracked corn - to - customer; connected farmer - growers to end customer to verify sustainability benefits  Managed a close - knit team of leading experts, contracting externally 27 Highly Relevant to Gevo's Business Senior NatureWorks Team = Senior Gevo Team Case Study: NatureWorks Plant (1) Holds PhD in chemistry. (2) Corbion/Total and LG/ADM are planned.  First commercial implementation of synthetic biology for an industrial biotechnology process  First new polymer of commercial scale (330mm lbs per year) since PET was commercialized  First large scale, industrial commercial monomer plant since PET  Largest fermentation plant built at the time  Spawned creation of new industry, which remains alive and growing with several large commercial plants in operation by Galactec (2) NatureWorks was a highly complex, first - of - its kind facility with rigorous quality demands, challenging construction materials and intricate chemical processes – more challenging than ATJ - 60/30 in aggregate and led by the same technical team that leads Gevo today. Patrick Gruber, PhD (1) Chris Ryan, PhD (1) Ron Borchardt CEO, Director President, COO VP Project Engineering and Construction The senior Gevo team's experience designing and building the NatureWorks plant is a directly applicable "proving ground" for Gevo's Platform goals Numerous Industry Firsts

![](tm2525612d1_ex99-1img028.jpg)

• In 2000, d eveloped and built $300 million PLA plastic production complex within the Blair wet mill • NatureWorks made up of 3 production plants: • World's largest lactic acid fermentation plant • C hemical plant for lactide production • PLA polymer production • Leaders in the business unit that commercialized lysine, erythritol, and lactic acid 28 An Example of Management Experience: New - to - the - World Biobased Plastic from NatureWorks LLC

![](tm2525612d1_ex99-1img029.jpg)

29 Non - GAAP Adjusted EBITDA Reconciliation (1) Adjusted EBITDA is a non - GAAP measure calculated by adding back depreciation and amortization, allocated intercompany expenses f or shared service functions, non - cash stock - based compensation, and the change in fair value of derivative instruments to GAAP loss from operations as well as monetized tax credits, if any.

![](tm2525612d1_ex99-1img030.jpg)

30 Non - GAAP Adjusted EBITDA Reconciliation (Cont'd) (1) Adjusted EBITDA is a non - GAAP measure calculated by adding back depreciation and amortization, allocated intercompany expenses f or shared service functions, non - cash stock - based compensation, and the change in fair value of derivative instruments to GAAP loss from operations as well as monetized tax credits, if any.

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31 Red Trail Energy, LLC Pro Forma Non - GAAP Adjusted EBITDA Reconciliation (1) As reported in the SEC filings of Red Trail Energy, LLC (now known as South 8 Energy, LLC), prior to Gevo's acquisition of su bst antially all of its assets and certain of its liabilities on January 31, 2025. Red Trail Energy, LLC had a f iscal y ear ending September 30. The N on - GAAP Pro Forma Adjusted EBITDA presented here is derived from Red Trail Energy, LLC's historical audited financial statements of Red Trail Energy, LLC and accompanying notes included in its Form 10 - K for the years ended September 30, 2024 , 2023 and 2022 and then adjusted from reported net income to add back depreciation and amortization and interest expense. The presented financial information on this slide is for illustrative and informational purposes only and is not int end ed to represent what Gevo's results of operations or financial position would have been had the Red Trail Energy, LLC a cquisition occurred on the dates indicated, or what they will be for any future periods. The financial information presented does not re fl ect the realization of any expected cost savings, other synergies as a result of the acquisition, or integration costs. ($ in millions) 2022 2023 2024 3ME 12/31/24 Net income $29 $6 ($1) ($0) Depreciation and amortization 4 6 6 2 Interest expense (net) (0) 1 1 0 Non-GAAP adjusted EBITDA $34 $13 $6 $2 Fiscal Year Ended September 30, Gevo North Dakota now consists of substantially all the assets of Red Trail Energy, LLC CM1

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