Note 10 - Inventories

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Inventory Disclosure [Text Block]

10. Inventories

The following table sets forth the components of the Company’s inventory balances (in thousands):

	December 31,
	2021		2020
Raw materials
Corn	$	301	$	—
Enzymes and other inputs		183		133
Nutrients		3		1
Palladium		265		235
Finished goods
SAF, Isooctane and Isooctene		335		756
Isobutanol		223		—
Ethanol		96		—
Work in process
Agri-Energy		83		—
Gevo		—		5
Spare parts		1,262		1,361
Total inventories	$	2,751	$	2,491

Work in process inventory includes unfinished SAF, isooctane and isooctene inventory. The Company recorded an expense for the write down to net realizable value for the year ended December 31, 2021 totaling $5.2 million as a result of restarted production of isobutanol. During the years ended December 31, 2020 and 2019, the Company recorded an expense for the write down to net realizable value of $1.2 and $0.2 million, respectively, due to the suspension of production in the first quarter 2020. These charges are included in "Cost of goods sold" in the Consolidated Statements of Operations.