Slide 1: Net-Zero 1 Project Update: Conditional Commitment for DOE Loan Guarantee Obtained
Net - Zero 1 Project Update Conditional Commitment For DOE Loan Guarantee Obtained NASDAQ: GEVO
Slide 2: Forward Looking Statement
2 This communication contains “forward - looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as defined in the Private Securities Litigation Reform Act of 1995. Forward - looking statements may be identified by t
Slide 3: Gevo's Net-Zero 1 Project Achieves Major Milestone
Gevo’s Net - Zero 1 Project (“NZ - 1”) Achieves Major Milestone • NZ - 1 is the first - ever, large - scale Alcohol - to - Jet (“ATJ”) project to receive a DOE LPO commitment – U.S. Department of Energy (“DOE”) Loan Programs Office (“LPO”) has issued conditional commitment approval for a $1.63 billi
Slide 4: Net-Zero Concept
4 Net - Zero Concept A production system that abates carbon emissions across the whole lifecycle NZ - 1 is designed to produce drop - in carbon negative SAF , that when burned in a jet, is net - zero or carbon negative across the whole life - cycle, from capture of biogenic CO 2 through burning as a
Slide 5: ATJ and HEFA SAF Can Deliver the Most Competitive Full Production Costs
$- $2.00 $4.00 $6.00 $8.00 $10.00 $12.00 $14.00 Oil Jet NZ1 ATJ ETO ATJ Non-Integrated ETJ Other Non- Integrated ATJ Standard HEFA Greenfield HEFA PTL Production Cash Cost CapEx Potential reduction in cost from modular plants 5 ATJ and HEFA SAF Can Deliver the Most Competitive Full Production Costs
Slide 6: Carbon abatement creates more potential value per gallon
“Our business system and plant designs are all about creating more potential value by creating more carbon abatement per gallon, while continuing to drive the cost of production downward.” - Dr. Chris Ryan, Gevo President and COO Total SAF Value per gallon Carbon Abatement Value Jet A Value (Parity
Slide 7: NZ1 is a Proprietary Design from Farm Field to SAF
Net - Zero 1 is a Proprietary Design from Farm Field to SAF NZ1 Plant Integrated Thermal Energy CARBON NEGATIVE Ethanol Plant CARBON NEGATIVE Alcohol - to - Jet Plant Plant Design Highlights • Capable of achieving Net - zero and negative targeted Carbon Intensity SAF – Equivalent to +600,000 metric
Slide 8: Understanding the Project Costs
(1) Balance of plant includes roads, office buildings/control room, rail, lighting, electrical and stormwater drainage (2) Cost from EPC Contractors as of July 2024 (3) Outside Battery Limit (OSBL) includes all infrastructure and auxiliary processes beyond the direct process streams. (4) Includes si
Slide 9: Expected Project Partners
Expected Project Partners (1) 9 (1) The Company expects to work with these companies on various parts of the Net - Zero 1 project based on current information and ass umptions as of October 16, 2024
Slide 10: Project Level Financing
NZ - 1 Project Level Investors Gevo Asset LLC & Gevo Net - Zero Holdco, LLC NZ - 1 DOE Loan 10 Project Level Financing Gevo corporate equity issuance would not be required to fund its pro - rata ownership of NZ - 1 Gevo is the project developer and would roll its development investment into NZ - 1 N
Slide 11: Benefits to Our Communities
11 Benefits to Our Communities Estimated to be the largest capital investment in South Dakota, creating new opportunities for South Dakotan workers and farmers Supporting energy independence with 100% US - sourced feedstocks 1,300 indirect jobs expected during construction, and provide ~100 long - t
Slide 12: Where We Are and What's Next
Where we are and What’s Next 12 Where are We? • Late Project Development and Financing Stage for the first world - scale net - zero Alcohol - to - Jet project • DOE Commitment Secured: Secured conditional commitment from the U.S. DOE, providing project support and validation • Robust Project Executi
Slide 13: Thank You
Thank You 345 Inverness Drive South Building C | Suite 310 Englewood, Colorado 80112 gevo.com A Carbon Abatement Company