Gevo, Inc.

Technology and engineering partner — co-develops and licenses Jetanol™ alcohol-to-jet technology, Polynaphtha™ hydrocarbon processing, and catalyst technologies for converting ethanol/isobutanol into drop-in SAF and renewable gasoline

ICM Inc.

Technology partner — jointly operated cellulosic isobutanol demonstration facility in St. Joseph, MO; provided commercial-scale isobutanol production engineering at Luverne, MN

Praj Industries Ltd.

NSE:PRAJIND

Licensing and EPC partner — master framework agreement to commercialize Gevo's isobutanol and ATJ technology in India, Southeast Asia, Australia, and South America; provides plant equipment and engineering services

하류

생산물을 소화하는 고객, 유통사, OEM 및 판매 채널.

하류

American Airlines Group Inc.

Delta Air Lines Inc.

Alaska Air Group Inc. (Alaska Airlines)

Hawaiian Airlines (Alaska Air Group)

Virgin Atlantic Airways Ltd.

Qatar Airways Group

Japan Airlines Co. Ltd.

Finnair Oyj

American Airlines Group Inc.

NASDAQ:AAL

SAF offtake — 500 million gallons over 5 years (~100 MGPY) under binding fuel sales agreement signed Jul 2022

Delta Air Lines Inc.

NYSE:DAL

SAF offtake — 75 million gallons per year for 7 years (~$2.8B value), signed Mar 2022

Alaska Air Group Inc. (Alaska Airlines)

NYSE:ALK

SAF offtake — 37 million gallons per year for 5 years (185M total), signed Aug 2022

Hawaiian Airlines (Alaska Air Group)

NYSE:ALK

SAF offtake — 50 million gallons over 5 years (~10 MGPY), signed Mar 2023

Virgin Atlantic Airways Ltd.

SAF offtake — 10 million gallons per year for 7 years (70M total), signed Dec 2022

대체 기업

분석에서 대표로 사용하는 상장 비교 기업 및 모니터링 종목.

대체 기업

Archer-Daniels-Midland Company

Aemetis, Inc.

World Energy, LLC (not publicly listed)

Praj Industries Ltd.

Darling Ingredients Inc.

Archer-Daniels-Midland Company

NYSE:ADM

Large-scale ethanol producer and Gevo's strategic feedstock partner via MoU; serves as a public proxy for the broader ethanol / renewable fuels value chain that Gevo operates within.

Aemetis, Inc.

NASDAQ:AMTX

Direct public comparable in renewable fuels / SAF space; also signs offtake agreements with airlines for SAF, operates ethanol and renewable diesel plants with carbon capture.

World Energy, LLC (not publicly listed)

Private — the largest SAF producer in North America; closest private comparable but no ticker available.

Praj Industries Ltd.

NSE:PRAJIND

Gevo's licensing and EPC partner for India/Asia; publicly traded proxy for isobutanol/ATJ technology deployment and ethanol plant engineering.

Darling Ingredients Inc.

NYSE:DAR

Large renewable fuels feedstock supplier and joint venture partner (Diamond Green Diesel); useful public proxy for biofuels supply chain dynamics.

지역

공급망을 왜곡할 수 있는 지역별 노출.

지역

North Dakota, USA

Midwest USA (Minnesota / South Dakota)

Texas, USA

Gevo North Dakota (Richardton)

Local Corn Farmers (ND/MN/SD region)

Gevo Silsbee (Hydrocarbon Demo Plant)

North Dakota, USA

Single production site reliance for ethanol revenue; carbon capture & sequestration regulation

Gevo North Dakota (Richardton)NASDAQ:GEVOOwned ethanol plant with CCS — produces all ~65 MGPY ethanol; Class VI injection well

Midwest USA (Minnesota / South Dakota)

Corn feedstock sourcing region; former Luverne facility now sold with retained isobutanol assets

Local Corn Farmers (ND/MN/SD region)Primary feedstock procurement via regenerative agriculture programs

Texas, USA

Silsbee hydrocarbon demonstration plant — converts isobutanol to SAF and renewable hydrocarbons at demo scale

Gevo Silsbee (Hydrocarbon Demo Plant)NASDAQ:GEVODemonstration-scale ATJ and paraxylene production facility

Europe

SAF offtake exposure to EU/UK airlines (Finnair, SAS, Iberia, Aer Lingus, Lufthansa); regulatory exposure to EU SAF mandates (ReFuelEU Aviation)

Finnair OyjOMXH:FIA1SSAF offtake 7 MGPY

Scandinavian Airlines (SAS)SAF offtake >$100M value

Deutsche Lufthansa AGETR:LHAATJ Heads of Agreement

Middle East / Asia

SAF offtake with Qatar Airways (state-owned) and Japan Airlines; licensing partnership (Praj) for India market

Qatar AirwaysSAF offtake 5 MGPY for 5 years

Japan AirlinesTSE:9201SAF offtake 5.3 MGPY for 5 years

Praj Industries Ltd.NSE:PRAJINDTechnology licensing and EPC for India/Southeast Asia

집중도

공급망을 왜곡할 수 있는 고객, 공급업체 또는 파트너 집중 노출.

Customer

Critical

Gevo's future revenue from SAF depends heavily on a small number of large airline offtake agreements (American Airlines, Delta, Alaska, etc.). Most of these agreements are contingent on Gevo completing ATJ plant construction and financing, which has faced delays (DOE loan withdrawal Apr 2026).

Foundry

High

Single-site production concentration — Gevo's only operating ethanol facility is the Gevo North Dakota plant in Richardton, ND (acquired from Red Trail Energy). Any operational disruption would halt the majority of revenue.

Other

Critical

Dependence on DOE loan guarantee / project financing for ATJ-30 SAF plant — Gevo withdrew its $1.46B DOE loan guarantee application in Apr 2026 and is now developing alternative financing, creating significant uncertainty around future production capacity.

Other

High

Corn feedstock price exposure — ethanol production margin is sensitive to corn commodity prices and natural gas costs; a small producer with limited hedging capability

매출 구성

대상 기업의 매출 구성이 공급망 영향력과 의존도로 이어지는 방식.

Ethanol Sales and Related Products

95.6%

$0.1B

Core revenue driver; upstream dependency on corn feedstock supply from North Dakota region farmers and downstream ethanol offtake markets (fuel blending, animal feed co-products). Ethanol is also the key feedstock for planned ATJ/SAF conversion.

Hydrocarbon Sales (SAF, renewable gasoline, isooctane, etc.)

4.4%

$0.0B

Higher-value product stream derived from isobutanol via alcohol-to-jet process; depends on technology partnerships (Axens) and demonstration-scale facilities (Silsbee, TX). Expected to scale significantly as ATJ plants come online.

회사 소개개인정보 처리방침서비스 약관면책 조항종목 디렉터리ETF지수13F 보유 종목목표주가무료 도구기술 지도Slack 참여하기

Plutux는 투자자문업자가 아닙니다. 시장 데이터와 AI가 생성한 분석은 정보 제공 및 교육 목적일 뿐 투자 자문이 아닙니다. 면책 조항

Gevo, Inc.

GEVO 공급망

상류

Local Corn Farmers (North Dakota Region)

Archer-Daniels-Midland Company

Axens

ICM Inc.

Praj Industries Ltd.

Corteva, Inc. (seed / agricultural input supplier to corn farmers)

Novozymes (enzyme suppliers for ethanol fermentation)

A.E. Innovation LLC

하류

American Airlines Group Inc.

Delta Air Lines Inc.

Alaska Air Group Inc. (Alaska Airlines)

Hawaiian Airlines (Alaska Air Group)

Virgin Atlantic Airways Ltd.

Qatar Airways Group

Japan Airlines Co. Ltd.

Finnair Oyj

View More

대체 기업

Archer-Daniels-Midland Company

Aemetis, Inc.

World Energy, LLC (not publicly listed)

Praj Industries Ltd.

Darling Ingredients Inc.

지역

North Dakota, USA

Midwest USA (Minnesota / South Dakota)

Texas, USA

View More

GEVO 공급망

상류

Local Corn Farmers (North Dakota Region)

Archer-Daniels-Midland Company

Axens

ICM Inc.

Praj Industries Ltd.

Corteva, Inc. (seed / agricultural input supplier to corn farmers)

Novozymes (enzyme suppliers for ethanol fermentation)

A.E. Innovation LLC

하류

American Airlines Group Inc.

Delta Air Lines Inc.

Alaska Air Group Inc. (Alaska Airlines)

Hawaiian Airlines (Alaska Air Group)

Virgin Atlantic Airways Ltd.

Qatar Airways Group

Japan Airlines Co. Ltd.

Finnair Oyj

View More

대체 기업

Archer-Daniels-Midland Company

Aemetis, Inc.

World Energy, LLC (not publicly listed)

Praj Industries Ltd.

Darling Ingredients Inc.

지역

North Dakota, USA

Midwest USA (Minnesota / South Dakota)

Texas, USA

View More