In the United States (US), biofuels- and biochemicals producer and process developer Gevo Inc., has recently announced that it has optioned the right to purchase approximately 239 acres (≈ 96.5 hectares - ha) of land near Lake Preston, South Dakota (SD), and has met the initial milestone to secure control of a site by the end of this year that meets the conditions required by the contract that Trafigura Trading LLC (Trafigura) and Gevo executed in August 2020.
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According to a statement on December 21, 2020, the production facility planned for Lake Preston, SD is contemplated to produce about 45 million (US) gallons (≈ 170 million litres) per year collectively of jet fuel and renewable gasoline products.
Gevo intends to make a decision on whether to purchase the Lake Preston site in the future as part of the Citigroup led project financing.
We like the scale of the plant that could be built at the Lake Preston site, it has the potential to produce large amounts of our products. It also has room to expand further, or add other businesses, said Dr Patrick R. Gruber, CEO of Gevo.
