Gevo's Net-Zero 1 Reaches Key Milestone For $950M Loan Guarantee From The U.S. Department Of Energy; The Due Diligence And Term Sheet Negotiation Phase For A Under The Title 17 Clean Energy Financing Program
Portfolio Pulse from Happy Mohamed
Gevo, Inc. (NASDAQ:GEVO) has reached a key milestone for a $950 million loan guarantee from the U.S. Department of Energy (DOE) for its Net-Zero 1 ethanol-to-jet project. The project has been invited to the due diligence and term sheet negotiation phase under the Title 17 Clean Energy Financing Program. This signifies the commencement of the underwriting phase for the debt financing process. However, this invitation does not guarantee that the DOE will issue a loan guarantee.
August 07, 2023 | 1:15 pm
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Gevo's Net-Zero 1 project has reached a key milestone for a $950 million loan guarantee from the DOE. This could potentially provide significant financial support for the project, but the guarantee is not yet assured.
The news is directly related to Gevo and its Net-Zero 1 project. The potential loan guarantee could provide significant financial support for the project, which would likely be positive for the company's stock. However, the guarantee is not yet assured, which introduces some uncertainty.
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