Gevo has secured 375 million gallons worth of SAF deals

Gevo has revealed it has in place 375 million gallons per year of predominantly take-or-pay, financeable SAF and hydrocarbon fuel supply agreements.
The company added that this level of demand would require multiple plants to be built over the next four years to satisfy those agreements.
Among its offtake partners include Trafigura, Kolmar, Delta Airlines, American Airlines, Alaska Airlines, Finnair, Japan Airlines, British Airways, Aer Lingus, and SAS.
A company spokesman said: “The Inflation Reduction Act, which was signed into law in August is helpful to many companies in the renewable energy industry and is a positive signal for SAF.
“The first phase of this two-phased approach to encouraging investment in the SAF industry creates a SAF blenders tax credit for the 2023-2024 period with a value potential of $1.25 (€1.25) per gallon. In the second two-year phase, 2025-2027, it created a Clean Fuel Production Credit that has a credit of $1.75 (€1.75) per gallon for domestically produced, net-zero carbon intensity score SAF. The value of both credits is based on the CI score of the fuel produced and requires a minimum 50% reduction in greenhouse gas emissions. Gevo, like other net-zero businesses, is expected to benefit from such a program because of the expected low CI score of Gevo products.”
Following the ground-breaking ceremony in Lake Preston, South Dakota, the Net-Zero 1 project is on schedule with initial volumes of SAF expected to be delivered in 2025.
NZ1 is expected to produce approximately 55 MGPY of SAF, or 62 MGPY of total hydrocarbon volumes, which would satisfy part of the ~375 MGPY of financeable SAF and hydrocarbon supply agreements that are currently in place.