Gevo has secured a conditional commitment for a $1.46 billion loan guarantee (excluding capitalised interest during construction) from the US Department of Energy (DOE) Loan Programs Office (LPO) for its Net-Zero 1 (NZ1) project in South Dakota. With capitalised interest, the DOE loan facility offers a borrowing capacity of $1.63 billion. The NZ1 plant, located in Lake Preston, South Dakota, will utilise 100 per cent US-sourced feedstocks to produce approximately 60 million gallons of sustainable aviation fuel (SAF), 1.3 billion pounds of protein and animal feed, and 30 million pounds of corn oil annually.
Moreover, Gevo’s net-zero SAF projects aim to accelerate climate-smart agricultural practices, create rural jobs, boost economic development, and strengthen domestic energy security. NZ1 is the first large-scale alcohol-to-jet project to receive a DOE LPO conditional commitment, offering significant opportunities for workers, farmers, and communities in South Dakota.
Earlier this year, US DOE announced a $1.5 billion investment, backed by the Bipartisan Infrastructure Law, to improve transmission infrastructure. The funding will support four major projects across five states, adding 7,100 MW of capacity and enhancing grid reliability, resilience, and energy access.
