Gevo shares are trading higher after the company announced it entered into a definitive agreement to acquire the ethanol production plant and carbon capture and sequestration (CCS) assets of Red Trail Energy for $210 million.
Portfolio Pulse from Benzinga Newsdesk
Gevo's stock is rising following its announcement of a $210 million acquisition of Red Trail Energy's ethanol production plant and carbon capture and sequestration assets.
September 12, 2024 | 2:50 pm
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Gevo's stock is experiencing an uptick due to its strategic acquisition of Red Trail Energy's ethanol production plant and CCS assets for $210 million. This move is likely to enhance Gevo's production capabilities and carbon management, potentially boosting future revenues.
The acquisition is a significant strategic move for Gevo, enhancing its production capacity and carbon capture capabilities. This is likely to be viewed positively by investors, leading to a short-term increase in stock price.
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