Segments

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segments

21. Segments

Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is the CODM. The CODM reviews financial information presented on a consolidated basis for the purpose of making operating decisions, allocating resources, and evaluating financial performance. As such, management has determined that the Company has organized its operations and activities into three reportable segments: (i) Gevo segment; (ii) Agri-Energy segment; and (iii) Renewable Natural Gas segment. Transactions between segments are eliminated in consolidation.

Gevo segment. The Gevo segment is responsible for all research and development activities related to transforming renewable energy into energy-dense liquid hydrocarbons that can be used as renewable fuels, such as SAF, with the potential to achieve a “net-zero” GHG footprint; commercial opportunities for other renewable hydrocarbon products, such as hydrocarbons for gasoline blendstocks and diesel fuel; ingredients for the chemical industry, such as ethylene and butenes; plastics and materials; and other chemicals. The Gevo segment also develops, maintains and protects its intellectual property portfolio, provides corporate oversight services, and is responsible for development and construction of our Net-Zero Projects.

Agri-Energy segment. The Agri-Energy segment is currently responsible for the operation of the Company’s Luverne Facility and the development and optimization of the production of isobutanol, ethanol and related products.

Renewable Natural Gas segment. The Renewable Natural Gas segment produces pipeline quality methane gas captured from dairy cow manure.

	Three Months Ended September 30, 2023
					Renewable
(in thousands)	Gevo		Agri-Energy		Natural Gas		Consolidated
Revenues	$	11	$	—	$	4,517	$	4,528
Loss from operations	$	(17,382)	$	(3,114)	$	(230)	$	(20,726)
Acquisitions of property, plant, and equipment	$	18,997	$	217	$	1,670	$	20,884

	Three Months Ended September 30, 2022
					Renewable
	Gevo		Agri-Energy		Natural Gas		Consolidated
Revenues	$	—	$	—	$	309	$	309
Loss from operations	$	(15,480)	$	(27,948)	$	(498)	$	(43,926)
Acquisitions of patents, property, plant, and equipment	$	20,016	$	4,351	$	6,305	$	30,672

	Nine Months Ended September 30, 2023
					Renewable
	Gevo		Agri-Energy		Natural Gas		Consolidated
Revenues	$	1,729	$	—	$	11,097	$	12,826
Loss from operations	$	(47,284)	$	(9,503)	$	(3,711)	$	(60,498)
Acquisitions of property, plant, and equipment	$	55,044	$	240	$	6,129	$	61,413

	Nine Months Ended September 30, 2022
					Renewable
	Gevo		Agri-Energy		Natural Gas		Consolidated
Revenues	$	81	$	240	$	309	$	630
Loss from operations	$	(40,629)	$	(34,869)	$	(498)	$	(75,996)
Acquisitions of patents, property, plant, and equipment	$	39,283	$	3,905	$	33,649	$	76,837

	September 30, 2023
					Renewable
	Gevo		Agri-Energy		Natural Gas		Consolidated
Total assets	$	538,547	$	29,397	$	101,577	$	669,521

	December 31, 2022
					Renewable
	Gevo		Agri-Energy		Natural Gas		Consolidated
Total assets	$	573,057	$	34,440	$	93,251	$	700,748