Gevo Inc. (NASDAQ: GEVO) announced plans to develop a second ethanol production facility at its Richardton, North Dakota site with targeted capacity of up to 75 million gallons per year of low-carbon ethanol.

The company previously announced plans to expand its existing Gevo North Dakota facility from 67 million gallons per year to 75 million gallons per year over the next year. Combined with the potential new facility, the site would produce approximately 150 million gallons per year of low-carbon ethanol and capture more than 400,000 metric tons of CO₂.

"We believe GND is one of the best sites in the U.S., in a pro-agriculture and pro-energy state and with local farmers who continue to increase productivity year after year," said Paul Bloom, President of Gevo.

The integrated system at the North Dakota facility combines ethanol production, CO₂ capture, and permanent sequestration. The captured CO₂ can be used for industrial applications including enhanced oil recovery or permanently sequestered for carbon-removal credits.

Gevo operates the facility with adjacent carbon capture and sequestration infrastructure and a Class VI carbon-storage well. The company also produces animal feed and corn oil as co-products from the ethanol production process.

The expansion would support alcohol-to-jet pathways for synthetic aviation fuel production. Bloom stated the company has received interest from multiple potential financiers for the expansion plans.

Information in this article is based on a company press release.