GEVO raises $22.6MM in offering for re-ramp of Luverne project

In Colorado, GEVO has raised $22.6MM in an offering aimed at funding a re-ramp of the company’s Luverne project. While the company indicates the offering provided the working capital to continue the re-ramp, if spending is not reduced from Q3, additional funding would be needed by mid-year 2014 to complete the project. Additionally, as the company looks to finance its Redfield project, additional larger-scale financing will be needed.

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