ADM Signs MoU With Gevo For Aviation Fuel Production

Archer-Daniels-Midland Co ADM has signed a memorandum of understanding (MoU) with Gevo Inc GEVO for aviation fuel production. The financial terms were not disclosed.
The MoU will concentrate on producing both ethanol and isobutanol that would then be transformed into renewable, low carbon-footprint hydrocarbons, including SAF, using Gevo's processing technology and capabilities.
The company expects about 900 million gallons of ethanol produced at dry mills to be processed, resulting in about 500 million gallons of SAF and other renewable hydrocarbons.
ADM noted isobutanol would be produced at a proposed new facility in Decatur that would employ its carbon capture and sequestration capabilities.
Price Action: ADM shares are trading higher by 0.66% at $66.66 on the last check Monday.