07:34 AM EDT, 09/12/2024 (MT Newswires) -- Gevo ( GEVO ) said Thursday that it signed a definitive agreement to acquire Red Trail Energy's ethanol production plant and carbon capture and sequestration assets in North Dakota for $210 million.

The acquisition is expected to accelerate Gevo's ( GEVO ) cash flow and expand its footprint and platform for sustainable aviation fuel, hydrocarbons, and chemicals.

Gevo ( GEVO ) said it plans to finance the acquisition through a combination of asset level debt and existing cash. The company expects to close the transaction in Q1 2025.

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