July 24, 2014
BY USDA
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Gevo Inc. on Sept. 12 announced it has entered into a definitive agreement to acquire the ethanol production plant and CCS assets of Red Trail Energy LLC for $210 million. Gevo plans to add net-zero SAF production capacity to the site.
The USDA maintained its forecast for 2024-’25 corn use in ethanol in its latest World Agricultural Supply and Demand Estimates report, released Sept. 12. The estimate for 2023-’24 corn use in ethanol was revised up.
The USDA increased its forecast for corn production and yields in its latest monthly Crop Production report, released Sept. 12. The agency currently expects corn production to be down 1% when compared to last year.
Recently, the USGC escorted a group of key ethanol industry stakeholders from Egypt, Ghana, Nigeria and the United Arab Emirates (UAE) on a tour of U.S. ethanol facilities to advance biofuel exports to Africa and the Middle East.
U.S. fuel ethanol production was up 4% the week ending Sept. 6, according to data released by the U.S. Energy Information Administration on Sept. 11. Stocks of fuel ethanol were up nearly 2% and exports were up 95%.