Gevo Gets $26 Million as Company Seeks Gains at Minnesota PlantJustin Doom
Gevo Inc., the U.S. biofuel producer backed by Vinod Khosla and French oil company Total SA, received $26.1 million two weeks after saying its Minnesota facility may break even this year.
Gevo, based in Englewood, Colorado, issued the debt to a single buyer, according to a filing today with the U.S. Securities and Exchange Commission. Chief Financial Officer Mike Willis didn’t immediately respond to phone and e-mail messages seeking comment.
The company last month sold $18 million in shares to fund renovations at its production plant in Luverne, Minnesota.
Gevo converts corn and plant waste into ethanol and isobutanol, which may be blended with gasoline or used for chemicals and fuels.