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● ● gevo ● 345 Inverness Drive South Building C , Suite 310 Englewood , CO 80112 Gevo Reports First Quarter 2021 Financial Results Gevo to Host Conference Call Today at 4:30 p.m. EDT / 2 : 30 p.m. MDT ENGLEWOOD , Colo . – May 13 , 2021 - Gevo , Inc. ( NASDAQ : GEVO ) today announced financial results for the first quarter of 2021 and recent corporate highlights . Recent Corporate Highlights T 303-858-8358 F 303-858-8431 gevo.com In January 2021 , Gevo announced the plans for its innovative , world - class and novel Net - Zero 1 Project ( " Net - Zero 1 " ) to be located in Lake Preston , South Dakota . Net Zero 1 is expected to produce ~ 45MGPY of energy dense liquid hydrocarbons that , when burned as transportation fuels , should have a net - zero greenhouse gas footprint across the whole of the life cycle based on Argonne National Laboratories ' GREET model . The hydrocarbons would be sold into the gasoline and jet fuel markets under existing take - or - pay contracts . Net - Zero 1 is being designed to reduce or eliminate the fossil - based energy footprint to run the production facility . In addition , Net - Zero 1 is expected to produce ~ 300 million pounds per year of protein rich animal feed , and about 30 million pounds per year of corn oil . Net - Zero 1 is expected to produce its own biogas to be used to heat the production facility and provide a portion of the electricity needed to power the production facility . In addition , wind power is being developed and is expected to supply another portion of the electricity needed to run the production facility . Green hydrogen will also be produced from the renewable electricity as part of the production processes at Net - Zero 1. Net - Zero 1 is also expected to have its own water treatment plant to further improve the environmental footprint . Front - End Engineering Design ( " FEED " ) work for Net - Zero 1 is on track and is expected to be completed in December 2021 . Gevo was on target and successfully broke ground and began construction of its renewable natural gas ( “ RNG " ) project in Northwest Iowa ( the " RNG Project " ) in late April 2021. Start - up of the RNG Project is expected in early 2022. Gevo expects the RNG Project to generate $ 9-16 million of cash for Gevo on an annual basis beginning in late 2022 . • In February 2021 , Gevo signed an amendment to its Fuel Sales Agreement with Scandinavian Airlines System ( " SAS " ) for sustainable aviation fuel . The volume in the amendment is 5 million gallons per year , and is a " take - or - pay " contract worth ~ $ 100 million of revenue across the life of the contract . This volume for the SAS contract is expected to be supplied by Gevo's second Net - Zero Project beginning in