Gevo obtains $20 million financing for renewable natural gas project

By Rebecca Melvin

New York, Jan. 15 – Gevo Inc. said it has a letter of commitment from a lender for $20 million for financing a renewable natural gas project at one of three contracted dairies.

The company also has a verbal commitment from the same lender to finance the renewable natural gas projects at the two other dairies. The financing includes capital for the anaerobic digesters, the biogas collection and upgrading the system, as well as the utility interconnection system.

The company has contracted with the dairies to provide manure that the company will convert into pipeline quality biogas. Combined, the three dairies expect to generate approximately 350,000 MMBTU biogas per year for sale to off-takers or use by the company’s affiliate Agri-Energy LLC at its advanced biofuel production facility.

Gevo is a renewable technology, chemical products and biofuels company, based in Englewood, Colo.

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