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Gevo (NASDAQ:GEVO) +2.3% post-market Wednesday following news of a new fuel sales agreement providing Iberia Airlines with 6M gal/year of sustainable aviation fuel for five years from Gevo’s future commercial operations, in a deal valued at $165M.
Iberia Airlines expects to begin fueling its aircraft with SAF from Gevo (GEVO) in 2028.
As part of International Airlines Group, Iberia Airlines is committed to achieving net-zero carbon emissions by 2050, with 10% implementation of sustainable aviation fuel by 2030.
Gevo (GEVO) said it is continuing to pursue its stated goal of producing and commercializing 1B gallons of SAF by 2030.
Earlier this week, Gevo (GEVO) said Qatar Airways agreed to buy 5M gal/year of sustainable aviation fuel for five years from the company’s future commercial operations.
Gevo (GEVO) is “strongly on track to become a leader in the SAF market,” Alberto Abaterusso writes in an analysis posted on Seeking Alpha.
