Gevo signs side agreement with Axens to allow for exceptions to exclusivity clause

In Colorado, Gevo has entered into a side agreement with Axens North America, Inc. in connection with a Master Framework Agreement for Ethanol to Jet Collaboration, dated September 22, 2021. The new agreement modifies the exclusivity provisions contained in the MFA. The parties carved-out exceptions to the Exclusive Territory in certain areas of the Midwest for an ethanol wet mill facility in Decatur, Illinois, a dry mill in Cedar Rapids, Iowa, and a dry mill and co-generation plant in Columbus, Nebraska. Within the modified territory, Axens is permitted to provide certain services and grant certain licenses relating to the conversion of ethanol to hydrocarbons fuels via dehydration, oligomerization, and saturation to Phillips 66. Archer-Daniels-Midland Company and, together with P66, or a joint venture entity between ADM and P66.