Gevo Tightens Belt, Plans to Push Forward with Project Funding Amid COVID-19 Layoffs
Gevo, Inc. (GEVO)
Last gevo, inc. earnings: 11/12 04:05 pm
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Source: GlobeNewswire
ENGLEWOOD, Colo., March 31, 2020 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) announced today that due to the impact the COVID-19 virus has had on the economy and Gevo’s industry, Gevo has suspended production operations at its production facility in Luverne, Minnesota (the “Luverne Facility”) for the foreseeable future. In connection with the suspension of operations and the overall economic disruption caused by COVID-19, Gevo also made the difficult decision to terminate 30 employees, cutting across Agri-Energy’s operations at the Luverne Facility and Gevo’s headquarters in Colorado. The remaining employees that earn above a certain dollar threshold, including senior executives, have agreed to take a 20% salary reduction over the next three months, with the 20% portion to be paid in stock. With these steps, Gevo expects to save several million dollars of cash burn during 2020. Gevo expects to continue the production of renewable isooctane and sustainable aviation fuel from the
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News
- Is Gevo (GEVO) Stock Outpacing Its Oils-Energy Peers This Year? [Yahoo! Finance]Yahoo! Finance
- Gevo to Participate in Virtual Investor MeetingGlobeNewswire
- Gevo, Inc. (NASDAQ: GEVO) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $14.00 price target on the stock.MarketBeat
- Gevo Inc (GEVO) Q3 2024 Earnings Call Highlights: Strategic Milestones and Financial Challenges [Yahoo! Finance]Yahoo! Finance
- Gevo Reports Third Quarter 2024 Financial ResultsGlobeNewswire
GEVO
Earnings
- 11/7/24 - Beat
GEVO
Sec Filings
- 11/13/24 - Form 8-K
- 11/12/24 - Form SC
- 11/7/24 - Form 10-Q
- GEVO's page on the SEC website