Markets :: Alternative Fuels :: Biorefineries
Gevo narrows loss; Luverne plant to resume operations
12:14 PM MDT | March 15, 2013 | Rebecca Coons
Cost-cutting helped biobased isobutanol producer Gevo (Englewood, CO) narrow fourth quarter losses and beat analysts’ estimates despite a production setback at its first commercial-scale asset. The company reported a net loss of $13.1 million (34 cts/share) for its fiscal fourth quarter ended 31 December, compared with a net loss of $14.2 million (54 cts/share) in the year-ago quarter. Analysts had expected a loss of 48 cts/share, as reported by Bloomberg (New York). Gevo announced in September of last year that it would revert its Luverne, MN biorefinery...
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