Gevo Inc.'s subsidiary, Gevo Intermediate HoldCo, LLC, has entered into a Tax Credit Transfer Agreement with a transferee bank, effective June 30, 2025. The agreement involves the transfer of "Clean Fuel Production Credits" from the production of ethanol by Gevo's wholly owned subsidiary, Net-Zero Richardton, LLC, during 2025. Gevo plans to deliver $22 million worth of credits by December 10, 2025, with an initial $5 million transferred upon the agreement's execution. Additionally, the transferee has rights for further credits related to 2025 production and a right of first refusal for 2026 credits. The agreement will remain in effect unless terminated due to customary events of default or changes in tax law.
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