ENGLEWOOD, Colo., April 01, 2019 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) announced today that, due to its improved balance sheet, the “going concern” qualification in the audit report of Gevo’s independent registered public accounting firm has been removed from the audited financial statements for the year ended December 31, 2018. For the past several years, the audit reports to Gevo’s consolidated financial statements have included a “going concern” qualification. Gevo’s consolidated audited financial statements for the year ended December 31, 2018 were included as part of its Annual Report on Form 10-K for the year ended December 31, 2018 that was filed on March 28, 2019 with the U.S. Securities and Exchange Commission.
This announcement does not represent any change or amendment to Gevo’s consolidated, audited financial statements or to its Annual Report on Form 10-K for the fiscal year ended December 31, 2018.
Gevo is a next generation “low-carbon” fuel company focused on the development and commercialization of renewable alternatives to petroleum-based products. Low-carbon fuels reduce the carbon intensity, or the level of greenhouse gas emissions, compared to standard fossil-based fuels across their lifecycle. The most common low-carbon fuels are renewable fuels. Gevo is focused on the development and production of mainstream fuels like gasoline and jet fuel using renewable feedstocks that have the potential to lower greenhouse gas emissions at a meaningful scale and enhance agricultural production, including food and other related products. In addition to serving the low-carbon fuel markets, through Gevo’s technology, Gevo can also serve markets to produce chemical intermediate products for solvents, plastics, and building block chemicals. Learn more at our website: www.gevo.com
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, statements related to Gevo’s “going concern” qualification, Gevo’s financial condition, Gevo’s ability to continue as a going concern, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2018, as amended, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.
|Investor and Media Contact|
Shawn M. Severson
Integra Investor Relations