Gevo Expects 2026 EBITDA to More Than Double on Carbon Strategy

The company does not break out quarterly EBITDA figures in its press releases, making the doubling claim hard to verify externally. Adjusted EBITDA is a non-GAAP measure that excludes depreciation, stock-based compensation, and other charges. Gevo said it would provide a full reconciliation in its next quarterly earnings report.

Gevo is a diversified energy company focused on drop-in renewable fuels, including sustainable aviation fuel, motor gasoline, and chemicals. Its assets include an ethanol plant in South Dakota with a Class VI carbon-storage well, one of the largest dairy-based RNG facilities in the U.S., and a small-scale alcohol-to-jet fuel plant in Texas that has been operating since 2012. The company also has a separate subsidiary, Verity, that sells carbon-accounting software to supply chains.

The big swing factor remains the larger North Dakota sustainable aviation fuel project, which Gevo has been developing for several years. The company said it continues to advance the project but did not provide a new timeline or disclose whether it has secured financing for the facility. The project is expected to cost well over $1 billion and has been delayed multiple times.

Forward-looking statements in the release carry the usual caveats. Gevo cautioned that actual results could differ materially due to risks including carbon market pricing, regulatory changes, the availability of financing, and the pace of SAF offtake agreements.