Gevo Issues Statement On Treasury Guidance For SAF Tax Credit; Says "Gevo Greatly Appreciates The Biden Administration's Intent To Use The Argonne GREET Method And Model For Sustainable Aviation Fuel"
Portfolio Pulse from Benzinga Newsdesk
Gevo, Inc. has expressed appreciation for the Biden Administration's decision to use the Argonne GREET method for the SAF tax credit, as outlined by the U.S. Department of Treasury. This method will provide a science-based approach to transparent carbon accounting in the SAF supply chain. The GREET model, which includes tools for precise measurement of SAF carbon intensity, will be finalized by March 1, 2024. Gevo's CEO, Dr. Patrick Gruber, highlighted the importance of data-driven integrity and the role of U.S. farmers in contributing to cleaner aviation fuel. The Inflation Reduction Act's tax credits for SAF with at least 50% lower emissions than conventional fuel are expected to create new markets for American farmers.
December 15, 2023 | 3:22 pm
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Gevo, Inc. supports the Treasury's guidance on the SAF tax credit, which aligns with its focus on carbon accounting and sustainable aviation fuel. The company expects the GREET model to enhance the value of agriculture in SAF and potentially open new markets for its products.
The positive response from Gevo regarding the Treasury's guidance on the SAF tax credit suggests a favorable regulatory environment for the company's products. The emphasis on science-based carbon accounting and the potential for new markets for low-carbon feedstocks could lead to increased demand for Gevo's sustainable aviation fuel, likely resulting in a positive short-term impact on the stock.
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