— Revenues derived at the Luverne Facility related to ethanol sales and related products fell by 31% due to reduced production of ethanol and distiller grains as a result of unfavorable commodity environment.
— Hydrocarbon revenues increased by 9% helped by higher production volumes at the South Hampton Resources Inc. facility in Silsbee, Texas.
— Research and development expenses declined by 4% due primarily to a decrease in costs associated with its South Hampton Facility partially offset by an increase in personnel and consultant expenses.
— Gevo believes it can become profitable, or close to it, as a company by the end of 2021 if Gevo can successfully improve the carbon footprint of its Luverne Facility.
— Gevo expects one or more of its renewable natural gas projects that are under development to come on-line by the end of 2020 or early 2021, adding to its EBITDA in 2021.