Gevo, Inc. withdrew its application for a DOE loan guarantee for its ATJ-60 synthetic aviation fuel project in Lake Preston, South Dakota, on April 15, 2026, citing misalignment with business objectives and a preference for alternative financing.
Key takeaways
Gevo withdrew its application for a DOE loan guarantee for the ATJ-60 project in Lake Preston, South Dakota, on April 15, 2026.
The withdrawal was due to the DOE's required business objectives for enhanced oil recovery not being commercially viable at scale in the project area.
Gevo stated that opportunities for alternative financing and broadened product offerings are better aligned with company strategy and can accelerate project execution.
The withdrawal reserves the opportunity for Gevo to resubmit an application for a project at a later date, if desired.
Gevo intends to continue its efforts on its announced ATJ-30 project in Richardton, North Dakota, as it remains in line with overall company strategy and timeline.