Making progress in developing the market

According to Pat Gruber, the CEO of Gevo, in his view, the last 12 months for the biofuels industry can be summarised in one word ‘limbo’. Gruber believes that the company has made progress on things like developing the market, and figuring out more information and analysing data, but in large parts it is in limbo because of the markets and the lack of clarity around the new US Inflation Reduction Act (IRA). As the industry enters the new year, many companies still do not know what the credits are worth and it is, therefore, hard to calculate margins and essentially the profitability of a particular project. Changing times We currently have an inflationary environment where prices are changing all the time and project costs have gone up, and you have to double check, triple and quadruple check the bottom line and every time you go ‘What?’. You also have all sorts of different noises in the biofuel market place,...