Gevo posted $43 million revenue in Q1 2026, up from $29 million a year earlier, and reported net loss of $22 million or $0.09 per share, which included $11 million of bond extinguishment and debt modification costs. Non-GAAP Adjusted EBITDA turned positive at $9 million, compared with a $15 million loss in Q1 2025.

The company launched a private capital raise for its ATJ-30 project, aiming to finance the world’s largest alcohol-to-jet facility by year-end. It has received multiple non-binding indications of interest for construction financing, completed FEL-2 engineering, plans FEL-3 in Q2 2026, and secured take-or-pay offtake agreements for roughly half of capacity.

Gevo executed a preliminary co-investment agreement with Ara Energy to fund the expansion of its North Dakota plant, targeting a 2028 startup for a new carbon capture and low-carbon ethanol facility that will roughly double capacity. Concurrently, debottlenecking tie-ins at the existing site are expected to boost output by over 10% starting next year, lifting annual ethanol capacity toward 75 million gallons.