Business
New Report Finds There are $4-6 in Benefits to the U.S. Economy for Every $1 of Federal SAF Incentives at Gevo’s Net-Zero 1 Facility
Research by Charles River Associates (“CRA”) demonstrates clear economic and environmental benefits utilizing this business system ENGLEWOOD, Colo., Aug. 09,
About this update from Gevo, Inc.
[{"type":"text","content":"Research by Charles River Associates (“CRA”) demonstrates clear economic and environmental benefits utilizing this business system\nENGLEWOOD, Colo., Aug. 09, 2024 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) today released a new report by Charles River Associates demonstrating the benefits of sustainable aviation fuel (“SAF”) production, including at Gevo’s planned Net-Zero 1 (“NZ1”) alcohol-to-jet (“ATJ”) SAF facility in South Dakota. CRA’s findings in the report show that every $1.00 from federal tax credits for ATJ SAF yields an estimated $4-6 of total quantified benefits. The research, commissioned by Gevo, also demonstrates how the proposed NZ1 facility is expected to directly support local economies, drive down emissions, and improve our nation’s energy security. “Practical, economical products like SAF provide our communities with clear benefits. We believe that not only will the sustainable jet fuel produced at NZ1 be cost-effective, but it will also help to lower emissions, create good-paying jobs, and bolster agricultural markets nationwide. It doesn’t have to be a tradeoff. This report shows that reducing greenhouse gas emissions in a business system like ours generates a payback for all of us, in addition to the project economics itself” said Lindsay Fitzgerald, Gevo’s Senior Vice President of Public Affairs. “The exciting benefits of NZ1 are not limited to South Dakota—Gevo has identified several potential sites in other states. We look forward to replicating these efforts in other localities and appreciate the continued collaboration with our federal partners to make this, and other facilities, a reality.” The report prepared by CRA shows that NZ1 would be a game-changer for scaling SAF production and uplifting local communities. Facilitating significant carbon reductions in jet fuel is needed to meet industrywide net-zero goals and provide needed certainty to farmers. The report’s key findings include: Energy and environmental benefits Avoided impacts valued at $2/gallon from reduced lifecycle GHG emissions by replacing fossil jet fuel with ATJ SAF;Substituting fossil jet fuel with ATJ SAF generates a value of $0.12/gallon in avoided health impacts from reduced particulate matter emissions during flight;Implementing climate-smart agriculture practices yields improved air and water quality, reduced GHG emissions,...