Why Gevo Stock Is Taking Off Today
Renewable energy stock Gevo (NASDAQ: GEVO) is absolutely crushing the market today, up 39.7% as of 1:05 p.m. EDT. Gevo just found an investor in an oil and gas giant, and the market can't seem to control its excitement.
Gevo is an early-stage renewable energy company that aims to produce low-carbon gasoline and jet fuel from feedstocks like corn.
This morning, it announced a collaboration with Chevron U.S.A, a subsidiary of oil giant Chevron (NYSE: CVX), to jointly invest in facilities that'll produce sustainable aviation fuel from inedible corn, as well as protein and corn oil as byproducts. In exchange for its investments, Chevron will have the right to purchase 150 million gallons of fuel per year.
Source Fool.com
