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2025

Global Sustainable Aviation Fuel Report

Major Players


Year of Establishiment 2005

Publicly Traded

Aeadquarters: USA

Gevo is one of the leading renewable chemical and advanced biofuels companies. Gevo operates in the sustainability sector, pursuing a business model based on the concept of the “circular economy”.

Key Facts

  • SAF Production Capacity:
  • SAF Production Target-:
    1 billion gallons by 2030
  • Revenue:
    $17.2 million (2023)
  • EBITDA:
    -$62.83 million (2023)

Current and Planned SAF Investments

Gevo intends to invest between $236 million and $286 million for the Net-Zero 1 project. The Net-Zero 1 (NZ1) project aims to produce SAF at an anticipated rate of approximately 55 million gallons per year starting in 2025

Tie-Ups

  • McDermott
    July 2023: McDermott secured a master services agreement (MSA) from Gevo, to provide front-end engineering and early planning services for Gevo’s development of multiple SAF facilities in North America.
  • Hawaiian Airlines
    March 2023: Hawaiian Airlines entered a collaboration with Gevo to procure 50 million gallons of SAF over the course of five years.
  • Axens
    October 2021: A strategic alliance aimed at accelerating the commercialization of sustainable ETJ projects in the US.
  • Chevrons
    September 2021: Jointly invest in building and operating new facilities that would process inedible corn to produce SAF. Additionally, Chevron would co-invest with Gevo in one or more projects and take about 150 million gallons per year to market to customers.
  • The Air Transport Action Group (ATAG)
    September 2023: Gevo became a Strategic Associate of ATAG, committing to collaborative efforts and knowledge exchange to advance aviation decarbonization and scale up SAF for global aircraft operations.

Financiers / Investors

Total SE, Chevron Corporation, BlackRock, Vanguard Group, Wellington Management, Fidelity Investments, Renaissance Technologies, State Street Corporation, Susquehanna International Group, H.C. Wainwright & Co.

Other Information

Gevo presently possesses roughly 375 million gallons per year (“MGPY”) of mainly take-or-pay agreements for SAF and hydrocarbon fuel supply. These agreements are expected to facilitate project debt financing, with the projected demand necessitating the construction of multiple plants over the next four years.

Based on current market projections and certain assumptions, these contracts collectively represent an estimated $2.3 billion in annual sales. Notable offtake partners include Trafigura, Kolmar, Delta Airlines, American Airlines, Alaska Airlines, Finnair, Japan Airlines, British Airways, Aer Lingus, and SAS.