- 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.
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