Gevo Provides Renewable Natural Gas Production Update; Annualized Production Rate Of ~402,000 MMBtu In May, Exceeding Our Previous Record Of ~401,000 MMBtu In March
Gevo, Inc. (NASDAQ:GEVO) announced today that its renewable natural gas ("RNG") business recently achieved record production levels.
"I am pleased that we achieved an annualized production rate of approximately 402,000 MMBtu in May, exceeding our previous record of approximately 401,000 MMBtu in March," said Staci Bogue-Buchholz, Vice President and General Manager of Gevo's RNG facilities. "These results show we have hit our stride from a production perspective, and I think we have room for further improvement too. The system is running well."
On June 21, 2024, our RNG production experienced a slight disruption due to a severe flooding event that impacted the Rock Valley, Iowa community. As a result of our mitigation efforts, we still achieved monthly RNG production of 29,082 MMBtu in June inclusive of planned downtime for maintenance, and the system has returned to its normal operational state. The company does not expect this to materially impact the annual production target of approximately 400,000 MMBtu.