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Gevo (NASDAQ:GEVO) + 2.3% Wednesday after the market after the news of a new fuel sales contract supply Iberia Airlines with 6 million gal/year of sustainable aviation fuel over 5 years from Gevo’s future commercial operations, in a transactions worth $165 million.
Iberia Airlines is expected to begin refueling its aircraft with SAF from Gevo (GEVO) in 2028.
As part of the International Airlines Group, Iberia Airlines is committed to achieving net zero carbon emissions by 2050, with 10% implementing sustainable aviation fuels by 2030.
Gevo (GEVO) said it is continuing to pursue its stated goal of producing and commercializing 1B gallon SAFs by 2030.
Earlier this weekGevo (GEVO) said Qatar Airways has agreed to purchase 5 million gal/year of sustainable aviation fuel over 5 years from the company’s future commercial operations.
Gevo (GEVO) “is on track to become a leader in the SAF market,” wrote Alberto Abaterusso in a analysis posted on Seeking Alpha.
