Gevo Completes Sale of Luverne, Minnesota, Ethanol Facility to A.E. Innovation, Retains Isobutanol Assets for Future Innovation

ENGLEWOOD, Colo., Nov. 04, 2025 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) is pleased to announce that it has completed the sale transaction of Agri-Energy, LLC (“Agri”), a wholly owned subsidiary of Gevo, to A.E. Innovation, LLC (“A.E.”). The transaction includes Agri’s 18-million-gallon-per-year ethanol-production facility and a portion of the adjacent land, located in Luverne, Minnesota.

For Gevo, this is a divestiture of a non-core asset that provided $2 million in cash up front and $5 million in future cash installments, while saving annual idling costs of approximately $3 million per year. Under the terms of the sale, Gevo retained ownership of the majority of the isobutanol production assets onsite and approximately 30 acres of land.

A.E., an agriculture-oriented buyer group located in Minnesota, acquired Agri with the intent to restart ethanol production at the plant, which has been idled since March 2020. A.E. intends to use the site to produce ethanol, and to make the site available for other companies to scale up new technologies and ideas as an innovation site.

Gevo’s retained assets at the site would allow the company to continue to utilize its differentiated and patented fermentation technologies with capacity to produce 1 million gallons per year of low-carbon isobutanol for use in chemicals markets, as feedstock for racing fuels, gasoline, and jet fuel.

About Gevo

Gevo is a next-generation diversified energy company committed to fueling America’s future with cost-effective, drop-in fuels that contribute to energy security, abate carbon, and strengthen rural communities to drive economic growth. Gevo’s innovative technology can be used to make a variety of renewable products, including SAF, motor fuels, chemicals, and other materials that provide U.S.-made solutions. Gevo’s business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. Gevo owns and operates an ethanol plant with an adjacent carbon capture, utilization, and sequestration (“CCUS”) facility and Class VI carbon-storage well. We also own and operate one of the largest dairy-based RNG facilities in the United States, turning by-products into clean, reliable energy. Additionally, Gevo developed the world’s first production facility for specialty alcohol-to-jet (“ATJ”) fuels and chemicals operating since 2012. Gevo is currently developing the world’s first large-scale ATJ facility to be co-located at our North Dakota site. Gevo’s market-driven “pay for performance” approach regarding carbon and other sustainability attributes helps deliver value to our local economies. Through its Verity subsidiary, Gevo provides transparency, accountability, and efficiency in tracking, measuring, and verifying various attributes throughout the supply chain. By strengthening rural economies, Gevo is working to secure a self-sufficient future and to make sure value is brought to the market.

For more information, see www.gevo.com.