Gevo Gets $12.4 Million Fuel Blendstock Supply Contract From Shell Unit-February 2024-www.financetom.com

Gevo Gets $12.4 Million Fuel Blendstock Supply Contract From Shell Unit

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Gevo Gets $12.4 Million Fuel Blendstock Supply Contract From Shell Unit

Aug 22, 2024 8:20 PM

05:10 PM EDT, 08/21/2024 (MT Newswires) -- Gevo ( GEVO ) said Wednesday it got a $12.4 million contract to supply racing fuel blendstock in five batches to Shell's (SHEL) Shell Global Solutions Deutschland unit.

Additional orders for the low-carbon intensity fuel may be placed from time to time if mutually agreed, Gevo ( GEVO ) said in a regulatory filing.

The agreement runs to Dec. 31, 2027, and includes provisions for prepayments by Shell totaling $2.9 million with potential offsets against future invoices, Gevo ( GEVO ) said.

Shares of Gevo ( GEVO ) rose 0.8% in recent after-hours trading, and Shell gained 0.3%.

Price: 0.7843, Change: +0.01, Percent Change: +0.80

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