Gevo lays off 23 employees to cut costs

In Colorado, as part of Gevo’s ongoing expense management strategy designed to extend the Company’s operating runway, Gevo decreased its corporate headcount by 23 employees, or 41% of the Englewood-based staff. These reductions come mainly from the technology group and are effective immediately. While this decision translates into meaningful costs savings for the Company, it has also been driven by the advanced stage of Gevo’s isobutanol technology and thus fewer resources are needed at this time. Gevo has determined this to be an opportune time to scale down the team to focus primarily on technology optimizations, as well as to support the commercial operations at Luverne and isobutanol licensing.