0001392380-23-000013 | 10-K | XBRL Viewer

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Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Dec. 31, 2022	Jan. 31, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-35073
Entity Registrant Name	GEVO, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-0747704
Entity Address, Address Line One	345 Inverness Drive South
Entity Address, Address Line Two	Building C, Suite 310
Entity Address, City or Town	Englewood
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80112
City Area Code	303
Local Phone Number	858-8358
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	GEVO
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 0.6
Entity Common Stock, Shares Outstanding		237,166,625
Documents Incorporated by Reference	Part III of this Annual Report on Form 10-K incorporates certain information by reference from the registrant’s proxy statement for the 2023 annual meeting of stockholders to be filed no later than 120 days after the end of the registrant’s fiscal year ended December 31, 2022.
Entity Central Index Key	0001392380
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor Firm ID	248
Auditor Name	GRANT THORNTON LLP
Auditor Location	Denver, Colorado

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 237,125	$ 40,833
Marketable securities (current)	167,408	275,340
Restricted cash (current)	1,032	25,032
Trade accounts receivable, net	476	978
Inventories	6,347	2,751
Prepaid expenses and other current assets	3,034	3,607
Total current assets	415,422	348,541
Property, plant and equipment, net	176,872	137,742
Marketable securities (non-current)	0	64,396
Restricted cash (non-current)	77,219	70,168
Operating right-of-use assets	1,331	2,414
Finance right-of-use assets	219	236
Intangible assets, net	7,691	8,938
Deposits and other assets	21,994	12,946
Total Assets	700,748	645,381
Current liabilities
Accounts payable and accrued liabilities	24,760	28,150
Operating lease liabilities (current)	438	772
Finance lease liabilities (current)	79	11
Loans payable - other (current)	159	158
Total current liabilities	25,436	29,091
Long-term portion	67,223	66,486
Loans payable - other (long-term)	159	318
Operating lease liabilities (long-term)	1,450	1,902
Finance lease liabilities (long-term)	183	242
Other long-term liabilities	820	87
Total liabilities	95,271	98,126
Commitments and Contingencies
Stockholders' Equity
Common stock, $0.01 par value per share; 500,000,000 and 250,000,000 authorized at December 31, 2022 and 2021, respectively; 237,166,625 and 201,988,662 shares issued and outstanding at December 31, 2022 and 2021, respectively.	2,372	2,020
Additional paid-in capital	1,259,527	1,103,224
Accumulated other comprehensive loss	(1,040)	(614)
Accumulated deficit	(655,382)	(557,375)
Total stockholders' equity	605,477	547,255
Total Liabilities and Stockholders' Equity	$ 700,748	$ 645,381

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	250,000,000
Common stock shares issued (in shares)	237,166,625	201,988,662
Common stock, shares outstanding (in shares)	237,166,625	201,988,662

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Total operating revenues	$ 1,175	$ 533
Operating expenses:
Cost of production	8,698	7,687
Depreciation and amortization	7,887	5,128
Research and development expense	7,427	6,775
General and administrative expense	39,941	25,493
Project development costs	10,061	10,581
Facility idling costs	4,599	0
Impairment loss	24,749	0
Loss on disposal of assets	499	5,137
Total operating expenses	103,861	60,801
Loss from operations	(102,686)	(60,268)
Other income (expense)
Interest expense	(1,167)	(251)
Investment income (loss)	3,043	571
Gain on forgiveness of SBA loan	0	641
Other income, net	2,803	104
Total other income, net	4,679	1,065
Net loss	$ (98,007)	$ (59,203)
Net loss per share - basic (in dollars per share)	$ (0.44)	$ (0.30)
Net loss per share - diluted (in dollars per share)	$ (0.44)	$ (0.30)
Weighted-average number of common shares outstanding - basic (in shares)	221,537,262	195,794,606
Weighted-average number of common shares outstanding - diluted (in shares)	221,537,262	195,794,606

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Loss	$ (98,007)	$ (59,203)
Other comprehensive income (loss)
Unrealized loss on available-for-sale securities, net of tax	(426)	(614)
Comprehensive loss	$ (98,433)	$ (59,817)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Paid-In Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2020		128,138,311
Beginning balance at Dec. 31, 2020	$ 146,379	$ 1,282	$ 643,269	$ 0	$ (498,172)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs (in shares)		68,170,579
Issuance of common stock, net of issuance costs	457,447	$ 682	456,765
Issuance of common stock upon exercise of warrants (in shares)		1,866,758
Issuance of common stock upon exercise of warrants	1,121	$ 18	1,103
Non-cash stock-based compensation	7,700		7,700
Stock-based awards and related share issuances, net ( in shares)		3,813,014
Stock-based awards and related share issuances, net	(5,575)	$ 38	(5,613)
Other comprehensive loss	(614)			(614)
Net Loss	$ (59,203)				(59,203)
Ending balance (in shares) at Dec. 31, 2021	201,988,662	201,988,662
Ending balance at Dec. 31, 2021	$ 547,255	$ 2,020	1,103,224	(614)	(557,375)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock and common stock warrants, net of issue costs (in shares)		33,333,336
Issuance of common stock and common stock warrants, net of issuance costs	139,008	$ 333	138,675
Issuance of common stock upon exercise of warrants (in shares)		4,677
Issuance of common stock upon exercise of warrants	3		3
Non-cash stock-based compensation	17,419		17,419
Stock-based awards and related share issuances, net ( in shares)		1,839,950
Stock-based awards and related share issuances, net	225	$ 19	206
Other comprehensive loss	(426)			(426)
Net Loss	$ (98,007)				(98,007)
Ending balance (in shares) at Dec. 31, 2022	237,166,625	237,166,625
Ending balance at Dec. 31, 2022	$ 605,477	$ 2,372	$ 1,259,527	$ (1,040)	$ (655,382)

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Operating Activities
Net Loss	$ (98,007)	$ (59,203)
Adjustments to reconcile net loss to net cash used in operating activities:
Impairment loss	24,749	0
Loss on disposal of assets	499	5,137
(Gain) on forgiveness of SBA Loans	0	(641)
Stock-based compensation	17,419	9,874
Depreciation and amortization	7,887	5,128
Amortization of marketable securities premium	2,723	5,029
Other noncash (income) expense	877	89
Changes in operating assets and liabilities:
Accounts receivable	502	(257)
Inventories	(2,004)	(259)
Prepaid expenses and other current assets, deposits and other assets	(10,893)	(12,897)
Accounts payable, accrued expenses and long-term liabilities	3,635	(271)
Net cash used in operating activities	(52,613)	(48,271)
Investing Activities
Acquisitions of property, plant and equipment	(75,775)	(56,770)
Acquisition of patent portfolio	(10)	0
Proceeds from sale and maturity of marketable securities	299,581	79,574
Purchase of patents and license	0	(9,170)
Purchase of marketable securities	(130,402)	(424,992)
Net cash provided by (used in) investing activities	93,394	(411,358)
Financing Activities
Proceeds from issuance of long-term debt	0	68,995
Debt and equity offering costs	(10,993)	(34,955)
Proceeds from issuance of common stock and common stock warrants	150,000	489,373
Proceeds from exercise of warrants	3	1,121
Net settlement of common stock under stock plans	(286)	(7,041)
Payment of loans payable - other	(150)	(154)
Payment of finance lease liabilities	(12)	(15)
Net cash provided by financing activities	138,562	517,324
Net increase in cash and cash equivalents	179,343	57,695
Cash, cash equivalents and restricted cash at beginning of period	136,033	78,338
Cash, cash equivalents and restricted cash at end of period	315,376	136,033
Schedule of cash, cash equivalents and restricted cash
Cash and cash equivalents	237,125	40,833
Restricted cash (current)	1,032	25,032
Long-term restricted cash	77,219	70,168
Total cash, cash equivalents and restricted cash	315,376	136,033
Supplemental disclosures of cash and non-cash investing and financing transactions
Cash paid for interest, net of amounts capitalized	522	(806)
Non-cash purchase of property, plant and equipment	13,837	20,287
Right-of-use asset purchased with financing leases	0	245
Right-of-use asset purchased with operating lease	0	1,611
Non-cash interest capitalized to construction in progress	$ 0	$ 1,125

Deposits and Other Assets

12 Months Ended

Dec. 31, 2022

Other Assets, Noncurrent [Abstract]

Deposits and Other Assets

The following table sets forth the components of the Company's deposits and other assets (in thousands) as of:


	Year Ended December 31,
	2022		2021
Deposits (1)	$	276	$	831
Prepaid feedstock (2)	934		—
Equity interest (3)	1,500		1,500
Exclusivity fees (4)	2,522		3,250
Deposits receivable (5)	8,302		—
Other assets, net (6)	8,460		7,365
Total Deposits and Other Assets	$	21,994	$	12,946

(1)Deposits for legal services and products for NZ1.

(2)Prepaid feedstock fees, non-current, for the production of RNG.

(3)The Company directly holds a 4.6% interest in the Series A Preferred Stock of Zero6 Clean Energy Assets, Inc. ("Zero6"), formerly Juhl Clean Energy Assets, Inc., which is not a publicly listed entity with a readily determinable fair value. The Company therefore measures the securities at cost, which is deemed to be the value indicated by the last observable transaction in Zero6's stock, subject to impairment. The equity interest in Zero6 is also pledged as collateral against two future obligations to Rock County Wind Fuel, LLC ("RCWF"), a Zero6 subsidiary, see Note 19, Commitments and Contingencies, for additional information.

(4)Axens North America, Inc. ("Axens") will provide certain alcohol-to-SAF technologies and services exclusively provided to the Company which may be offset against future license fees subject to the delivery of a process design package.

(5)Deposits provided to a developer of certain wind-farm projects and power utility contractor to induce to design and construct the power generation, transmission and distribution facilities that will serve NZ1, $5.5 million of which will be either reimbursed or used as an investment into wind generation facility and the remaining $2.8 million is expected to be fully reimbursed upon completion of the project. Gevo has contractual priority liens against the equipment and constructed facilities under the contracts.

(6)Payments which were allocated to the non-lease fuel supply, primarily related to sand separation systems, to support NW Iowa RNG fuel supply agreements prior to commencement of operations, being amortized over the life of the project.

Nature of Business, Financial Condition and Basis of Presentation	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business, Financial Condition and Basis of Presentation	Nature of Business, Financial Condition and Basis of Presentation Nature of business. Gevo, Inc. (Nasdaq: GEVO) ("Gevo", "we", "us", "our", or the "Company," which, unless otherwise indicated, refers to Gevo, Inc. and its subsidiaries), a Delaware corporation founded in 2005, is a growth-oriented company with the mission of solving greenhouse gas ("GHG") emissions for those sectors of the transportation industry that are not amenable to electrification or hydrogen. The Company is focused on transforming renewable energy into energy-dense liquid drop-in hydrocarbons that can be used as renewable fuels, such as sustainable aviation fuel ("SAF") and other fuels and chemicals, with the potential to achieve a “net-zero” GHG footprint. The Company uses the Argonne National Laboratory’s GREET (Greenhouse gases, Regulated Emissions, and Energy use in Transportation) model (the "GREET Model") to measure, predict and verify GHG emissions across the life-cycle of its products. The “net-zero” concept means Gevo expects that by using sustainably grown feedstock (i.e., low till, no-till and dry corn cultivation), renewable and substantially decarbonized energy sources, drop-in hydrocarbon fuels can be produced that have a net-zero, full life cycle footprint measured from the capture of renewable carbon through the burning of the fuel. Gevo's primary market focus, given current demand and growing customer interest, is SAF. The Company believes it also has commercial opportunities for other renewable hydrocarbon products, such as (i) renewable natural gas (“RNG”) , (ii) hydrocarbons for gasoline blendstocks and diesel fuel, and (iii) plastics, materials and other chemicals. Net-Zero Projects In early 2021, we announced the concept of “Net-Zero Projects” as a series of planned facilities to produce energy dense liquid hydrocarbons using renewable energy and our proprietary technology. The concept of a Net-Zero Project is to convert renewable energy (e.g., photosynthetic, wind, RNG, biogas) from a variety of sources into energy dense liquid hydrocarbons that, when burned in traditional engines, have the potential to achieve net-zero GHG emissions across the whole lifecycle of the liquid fuel: from the way carbon is captured from the atmosphere, processed to make liquid fuel products, and burnt as a fuel for cars, planes, trucks and ships. Our initial Net-Zero Project, Net-Zero 1 (“NZ1"), is located in Lake Preston, South Dakota, and is being currently designed to produce approximately 62 million gallons per year ("MGPY") of total hydrocarbon volumes, including 55 MGPY of SAF. Along with the hydrocarbons, NZ1 is being currently designed to produce approximately 475 million pounds per year of high-value protein products for use in the food chain and more than 30 million pounds per year of corn oil. Our products will be produced in three steps; the first step is milling the corn and the production of protein, oil, and carbohydrates, the second step produces alcohols using fermentation and the third step is the conversion of the alcohols into hydrocarbons. Renewable Natural Gas Project Gevo's RNG project in Northwest Iowa ("NW Iowa RNG") is owned by Gevo NW Iowa RNG, LLC, and produces RNG captured from dairy cow manure. The manure is supplied by three local dairies that have over 20,000 milking cows in total with additional milking cows expected pursuant to agreements executed during the second quarter of 2022. Animal manure can be digested anaerobically to produce biogas, which is then upgraded to pipeline quality gas referred to as RNG. Gevo NW Iowa RNG, LLC sells the produced RNG to the California market through an agreement with BP Canada Energy Marketing Corp. and BP Products North America Inc. (collectively, "BP"). Luverne Facility Gevo's development plant in Luverne, Minnesota (the "Luverne Facility") was originally constructed in 1998 and is located on approximately 55 acres of land, which contains approximately 50,000 square feet of building space. Gevo may use the Luverne Facility in the future to prove our processes, process concepts, unit operations and for other purposes in order to optimize feedstocks and the processes used for producing hydrocarbons from alcohols. Currently, the activities at the Luverne Facility are minimized to care and maintenance, as the Company has shifted focus to the Net-Zero Projects. Financial Condition. The Company has incurred consolidated net losses since inception and had a significant accumulated deficit as of December 31, 2022. The Company’s cash and cash equivalents totaled $237.1 million, short and long-term restricted cash totaled $78.3 million and marketable securities totaled $167.4 million as of December 31, 2022.

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation. The Consolidated Financial Statements of Gevo include the accounts of its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Basis of Presentation. The Consolidated Financial Statements of the Company (which include the accounts of its wholly-owned subsidiaries Gevo Asset, LLC, Gevo RNG Holdco, LLC, Gevo NW Iowa RNG, LLC, Gevo Net-Zero HoldCo, LLC, Gevo Net-Zero 1, LLC and Agri-Energy, LLC) have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC") and accounting principles generally accepted in the U.S. ("U.S. GAAP") for complete financial statements. These statements reflect all normal and recurring adjustments which, in the opinion of management, are necessary to present fairly the financial position, results of operations and cash flows of the Company at December 31, 2022. Reclassifications. The Company reclassified certain prior period amounts to conform to the current period presentation. The reclassifications included removing a redundant subtotal, cost of goods sold, to align with industry peers and the categorization of depreciation and amortization on the Consolidated Statements of Operations, which had no impact on total revenues, total operating expenses, net loss or stockholders' equity for any period. Use of Estimates. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. Concentrations of Credit Risk. The Company’s financial instruments that are exposed to concentrations of credit risk consist of cash and cash equivalents in excess of the federally insured limits. The Company’s cash and cash equivalents are deposited with high credit-quality financial institutions and are primarily in demand deposit accounts and money market funds. Cash, Cash Equivalents and Restricted Cash. The Company maintains its cash and cash equivalents in highly liquid interest-bearing money market accounts or non-interest-bearing demand accounts. The Company considers all highly liquid investments purchased with a maturity of three months or less at the date of acquisition to be cash equivalents. Restricted cash is classified as current or non-current based on the terms of the underlying agreements and represents cash held as deposits and cash collateral for financial letters of credit. Marketable Securities. The Company’s marketable securities consist of marketable debt securities and have been classified and accounted for as available-for-sale. Management determines the appropriate classification of its investments at the time of purchase and reevaluates the classifications at each balance sheet date. The Company classifies its marketable securities as either short-term or long-term based on each instrument’s underlying contractual maturity date. Marketable securities with maturities of 12 months or less are classified as short-term and marketable securities with maturities greater than 12 months are classified as long-term. The Company’s marketable securities are carried at fair value, with unrealized gains and losses, net of taxes, reported as a component of accumulated other comprehensive loss in shareholders’ equity, with the exception of unrealized losses believed to be other-than-temporary, which are reported in earnings in the current period. Trade Accounts Receivable, net. The Company records receivables for products shipped and services provided but for which payment has not yet been received. In evaluating its allowance for doubtful accounts for accounts receivable, the Company performs ongoing reviews of its outstanding receivables to determine if any amounts are uncollectible and adjusts the allowance for doubtful accounts accordingly. Inventories. Inventory is recorded at net realizable value. Isobutanol and ethanol inventory cost consists of the applicable share of raw material, direct labor and manufacturing overhead. Work in process inventory includes unfinished SAF, isooctane and isooctene inventory. Spare Parts inventory consists of the parts required to maintain and operate the Company’s Luverne Facility and is recorded at cost. For each reporting period, the Company reviews the value of inventories on hand to estimate the recoverability through future sales. The Company reduces its inventories with adjustments for lower of cost or net realizable value, with cost determined by the average cost method. Environmental Attribute Inventory. The Company generates D3 Renewable Identification Numbers ("RINs") and Low Carbon Fuel Standard ("LCFS") credits (collectively, "environmental attributes") through the production of RNG used for transportation purposes as prescribed under the Renewable Fuels Standard program ("RFS"). Environmental attribute inventory is included as a component of "Inventories" on the Consolidated Balance Sheets. The Company considers environmental attributes to be a distinguishable product that is generated as an integral component of the production process of RNG as the environmental attributes that are generated can be separated from the underlying commodity and may be sold independently from the RNG produced. As such, the Company considers environmental attributes to be a co-product of the production of RNG and accordingly allocates the costs of production based on the relative sales value of all revenue items for the NW Iowa RNG operations. The value of the environmental attributes is reviewed for potential write-downs based on the net realizable value methodology. Revenue is recognized on these environmental attributes when there is an agreement in place to monetize the credits at an agreed upon price with a customer based upon defined third party market prices and a transfer of control has occurred. Property, Plant and Equipment. Property, plant and equipment are recorded at cost less accumulated depreciation and amortization. Leasehold improvements are amortized over the term of the lease agreement or the service lives of the improvements, whichever is shorter. Assets under construction are depreciated when they are placed into service. Maintenance and repairs are charged to expense as incurred and expenditures for major improvements are capitalized. Construction in Progress. Construction in progress represents expenditures necessary to bring an asset, project, new facilities or equipment to the condition and location necessary for its intended use and are capitalized and recorded at cost. Once completed and ready for its intended use, the asset is transferred to property, plant and equipment to be depreciated or amortized. Depreciation and Amortization. Capitalized costs are depreciated or amortized using the straight-line method at rates sufficient to depreciate such costs over the shorter of estimated productive lives of such assets or the useful life of the individual assets. The estimates of productive lives may change, possibly in the near term, resulting in changes to depreciation and amortization rates in future reporting periods. Impairment of Long-Lived Assets. The Company evaluates the recoverability of the recorded amount of long-lived assets, including property, plant and equipment, licenses, patents, operating lease right-of-use assets, and finance lease right-of-use assets when events or changes in circumstances indicate that their carrying amount may not be recoverable. The carrying amount of a long-lived asset is considered to be impaired if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the assets. If the Company determines that an asset is impaired, it measures the impairment to be recognized as the amount by which the recorded amount of the asset exceeds its fair value. A summary of impairment losses on tangible and intangible assets for the years ended December 31, 2022 and 2021 is included in Note 4, Asset Impairment. Leases, Right-of-Use Assets and Related Liabilities. The Company enters into various arrangements which constitute a lease as defined by Accounting Standards Codification ("ASC") 842, Leases, as part of its ongoing business activities and operations. Leases represent a contract or part of a contract that conveys the right to control the use of identified property, plant or equipment (an identified asset) for a period of time in exchange for consideration. Such contracts result in both (a) right-of-use assets, which represent the Company’s right to use an underlying asset for the term of the contract; and (b) a corresponding lease liability which represents the Company’s obligation to make the lease payments arising from the contract. The Company has elected not to recognize a right-of-use asset and lease liability for any lease with an original lease term of 12 months or less. Lease expense for such leases is recognized on a straight-line basis over the lease term. A lease is classified as a finance lease when one or more of the following criteria are met: (i) the lease transfers ownership of the asset by the end of the lease term, (ii) the lease contains an option to purchase the asset that is reasonably certain to be exercised, (iii) the lease term is for a major part of the remaining useful life of the asset, (iv) the present value of the lease payments equals or exceeds substantially all of the fair value of the asset, or (v) the asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. If a lease does not meet any of these criteria, the lease is classified as an operating lease. Lease liabilities are initially measured at the lease commencement date based on the present value of lease payments over the lease term, discounted using an estimate of the Company’s incremental borrowing rate for a collateralized loan with the same term and payment as the lease. Right-of-use assets are measured based on the amount of the lease liability adjusted for any lease payments made to the lessor at or before the lease commencement date less any lease incentives received. All right-of-use assets are evaluated for impairment in accordance with accounting standards applicable to long-lived assets. Renewal options are included in the calculation of our right-of-use assets and lease liabilities when the Company determines that the option is reasonably certain of exercise based on an analysis of the relevant facts and circumstances. Certain of the Company’s leases require variable lease payments that do not depend on an index or rate and such payments are excluded from the calculation of the right-of-use asset and lease liability and are recognized as variable lease cost when incurred. Lease cost for operating leases consists of the fixed lease payments recognized on a straight-line basis over the lease term plus variable lease payments as incurred. Lease cost for finance leases consists of amortization of the right-of-use assets on a straight-line basis over the lease term, interest expense on the lease liability and variable lease payments as incurred. The Company has elected the practical expedient to account for the lease and non-lease components as a single lease component for its corporate office lease asset class. Effective October 1, 2022, the Company made the voluntary determination to change its accounting policy covering the application of the practical expedient under ASC 842, Leases. Under the new accounting policy, the Company will account for lease components separately from non-lease components for the Company’s dairy lease asset class. The Company voluntarily elected this acceptable change in accounting policy effective October 1, 2022. The Company believes the change is preferable as it provides the most useful and transparent financial information and improves comparability and consistency of financial information, resulting in improved financial reporting and alignment with financial information used internally by management. The total consideration in the lease agreement will be allocated to the lease and non-lease components based on their relative standalone selling prices. Under the previous treatment, all amounts paid to the lessor under these arrangements for use of the land and cow manure were classified as lease payments and included in the calculation of the right-of-use assets and lease liabilities. The Company has retrospectively adopted this change in accounting policy described above and has provided the appropriate disclosures as required in ASC 250-10, see Note 9 Leases. Intangible assets. Intangible assets consist of patents. Costs related to patents, including legal fees, are capitalized and amortized over the estimated useful lives using the straight-line method. Amortization expense is recorded in "Depreciation and amortization" in the Operating expenses section of the Consolidated Statements of Operations. For patents purchased in an asset acquisition, the useful life is determined by valuation estimates of remaining economic life. The patents are included in "Intangible assets, net" on the Consolidated Balance Sheets. The Company periodically evaluates the amortization period and carrying value of its patents to determine whether any events or circumstances warrant revised estimated useful life or reduction in value. Borrowing Costs. The borrowing costs that are directly attributable to the acquisition and construction of an asset that needs a substantially long period of time for its intended use to begin are capitalized and recorded as part of the cost of the asset when expenditures for the asset and borrowing costs have been incurred, and the activities relating to the acquisition and construction that are necessary to prepare the asset for its intended use have commenced. The capitalization of borrowing costs ceases when the asset under acquisition or construction becomes ready for its intended use and the borrowing costs incurred thereafter are recognized in profit or loss for the current period. The capitalization of borrowing costs is suspended during periods in which the acquisition or construction of an asset is interrupted abnormally and the interruption lasts for more than three months, until the acquisition or construction is resumed. Debt Issuance Costs and Debt Discounts/Premiums. Debt issuance costs are costs with third parties incurred in connection with the Company’s debt financings that have been capitalized and are being amortized over the stated maturity period or estimated life of the related debt using the effective interest method. Debt issuance costs are presented as a direct reduction of the carrying amount of the related debt. Debt discounts, including fees paid to lenders, and debt premiums are amortized over the life of the related debt using the effective interest method. Debt discounts and premiums are presented as a reduction and increase, respectively, in the carrying amount of the related debt. Amortization of debt issuance costs, discounts and premiums is included in interest expense. Warrants. Warrants are classified as a component of permanent equity when they are freestanding financial instruments that are legally detachable and separately exercisable from the shares of common stock with which they were issued, are immediately exercisable, do not embody an obligation for the Company to repurchase its shares, permit the holders to receive a fixed number of shares of common stock upon exercise and do not provide any guarantee of value or return. Revenue Recognition. The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers (“ASC 606”). Revenue from the Company’s point in time product sales is recognized when products are transferred, or services are invoiced and control transferred. The Company has presented the disclosures required by ASC 606, see Note 3, Revenues from contracts with customers and other revenues. Cost of Production. Cost of production includes costs incurred in operations for the production of RNG and isobutanol, as well as costs for direct materials, direct labor and certain plant overhead costs, and plant utilities including natural gas and wind power. Direct materials consist of dextrose for initial production of isobutanol, corn feedstock, manure feedstock, denaturant, and process chemicals. Direct labor includes compensation of personnel directly involved in production operations. Plant overhead costs primarily consist of plant utilities. The Company purchases natural gas and wind power to power steam generation in the production process and to dry the distillers grains, a by-product of ethanol and related products production. Research and Development. Research and development costs are expensed as incurred. The Company’s research and development costs consist of expenses incurred to identify, develop, and test its technologies for the production of isobutanol and the development of downstream applications thereof. Research and development expense includes personnel costs (including stock-based compensation), consultants and related contract research, facility costs, supplies, license fees and milestone payments paid to third parties for use of their intellectual property and patent rights and other direct and allocated expenses incurred to support the Company’s overall research and development programs. General and Administrative. General and administrative expense are expensed as incurred. The Company's general and administrative costs consist of personnel costs (including stock-based compensation), consulting and service provider expenses (including patent counsel-related costs), legal fees, marketing costs, insurance costs, occupancy-related costs, travel and relocation expenses and hiring expenses. Project Development Costs. Project development costs consist of consulting, preliminary engineering costs, and personnel costs, including stock-based compensation. Stock-Based Compensation. The Company’s stock-based compensation expense includes expenses associated with share-based awards granted to employees and board members. Our stock-based compensation is classified as either an equity award or a liability award in accordance with U.S. GAAP. The fair value of an equity-classified award is determined at the grant date and is amortized on a straight-line basis over the requisite service period. The fair-value of a liability-classified award is determined on a quarterly basis through the final vesting date and is amortized based on the current fair value of the award and the percentage of vesting period incurred to date. The grant date fair value for stock option awards is estimated using the Black-Scholes option pricing model and the grant date fair value for restricted stock awards is based upon the closing price of the Company’s common stock on the date of grant. The Company recognizes compensation costs for share-based payment awards granted to employees net of actual forfeitures and recognizes stock-based compensation expense for only those awards expected to vest on a straight-line basis over the requisite service period of the award, which is currently the vesting term of up to three years. The Company accounts for stock-based employee compensation plans under the fair value recognition and measurement provisions in accordance with applicable accounting standards, which require all stock-based payments to employees, including grants of stock options and restricted stock awards, to be measured based on the grant date fair value of the awards, with the resulting expense generally recognized on a straight-line basis over the period during which the employee is required to perform service in exchange for the award. Stock-based compensation expense related to restricted stock awards and stock options are recorded net of actual forfeitures in our Consolidated Statements of Operations. Liability awards are subject to variable accounting treatment, such that they are remeasured at fair value each reporting period through the Consolidated Statements of Operations. Any impact of forfeitures are based on actual forfeitures, although not affecting the fair value measurement of the awards, and are reflected at that time as well. Income Taxes. In preparing the Consolidated Financial Statements, the Company estimates the actual amount of taxes currently payable or receivable as well as deferred tax assets and liabilities attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using currently enacted tax rates in effect in the years in which those temporary differences are expected to reverse. Deferred tax assets are be reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Changes in deferred tax assets and liabilities generally have a direct impact on earnings in the period of the changes. Where applicable tax laws and regulations are either unclear or subject to varying interpretations, it is possible that changes in these estimates could occur that materially affect the amounts of deferred income tax assets and liabilities recorded in the Consolidated Financial Statements. Each period, we evaluate the likelihood of whether or not some portion or all of each deferred tax asset will be realized and provide a valuation allowance for those deferred tax assets for which it is more likely than not that the related benefits will not be realized. When evaluating our valuation allowance, we consider historic and future expected levels of taxable income, the pattern and timing of reversals of taxable temporary timing differences that give rise to deferred tax liabilities, and tax planning initiatives. Levels of future taxable income are affected by, among other things, production costs, interest rates, and federal and local legislation. If we determine that all or a portion of the deferred tax assets will not be realized, a valuation allowance will be recorded with a charge to income tax expense. Conversely, if we determine that we will ultimately be able to realize all or a portion of the related benefits for which a valuation allowance has been provided, all or a portion of the related valuation allowance will be reduced with a credit to income tax expense. In addition, the calculation of income tax expense involves significant management estimation and judgment involving a number of assumptions. In determining these amounts, management interprets tax legislation in each of the jurisdictions in which we operate and makes estimates of the expected timing of the reversal of future tax assets and liabilities. We also make assumptions about future earnings, tax planning strategies and the extent to which potential future tax benefits will be used. We are also subject to assessments by various taxation authorities which may interpret tax legislation differently, which could affect the final amount or the timing of tax payments. The Company may from time to time be assessed interest or penalties by major tax jurisdictions, although there have been no such assessments historically with any material impact to its financial results. The Company would recognize interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying Consolidated Statements of Operations. Accrued interest and penalties would be included within the related tax liability line in the Consolidated Balance Sheets. Recently Adopted Accounting Pronouncements Government Assistance Disclosures. In November 2021, the FASB issued ASU 2021-10, Disclosures by Business Entities about Government Assistance (“ASU 2021-10”). ASU 2021-10 details financial reporting disclosure requirements that increase the transparency of transactions with a government accounted for by applying a grant or contribution accounting model by analogy. The new guidance is effective for annual periods beginning after December 15, 2021 and interim reporting periods within those reporting periods. The Company adopted the new standard as of January 1, 2022, which did not have an impact on the Company’s disclosures related to governmental grants or an impact to the results of operations and financial position as of the adoption date. See Note 15, Debt, for additional disclosures related to the Small Business Administration’s Paycheck Protection Program ("SBA PPP").

Revenues from Contracts with Customers and Other Revenue

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenues from Contracts with Customers and Other Revenue

Revenues from Contracts with Customers and Other RevenueThe Company’s revenues are primarily comprised of the sale of RNG and related environmental attributes produced at the NW Iowa RNG facility under long-term contracts with customers. Revenue is recognized at a point in time when the Company transfers the product to its customer as the customer obtains control of the product upon delivery. The Company generally has a single performance obligation in our arrangements with customers. The Company’s performance obligation related to the sales of RNG and related environmental attributes are satisfied at a point in time upon delivery to the customer.

Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring its products. There is no variable consideration present in the Company’s performance obligations. Consideration for each transaction is based upon quoted market prices at the time of delivery. The Company recognized $0.6 million of revenue from the sale of RNG during the year ended December 31, 2022 and recognized $0.2 million from the sale of environmental attributes during the year ended December 31, 2022.

The Company recorded limited revenues from its development-scale plant, the Luverne Facility, during each of the years ended December 31, 2022, and 2021. These revenues were promotional in nature and from customer contracts for ethanol sales and related products and hydrocarbon revenues, which included SAF, isooctene, and isooctane. These products were sold mostly on a free-on-board, shipping point basis (recognized at a point in time), were independent transactions, did not provide post-sale support or promises to deliver future goods, and were single performance obligations.

The following tables display the Company’s revenue by major source based on product type for the years ended December 31, 2022 and 2021 (in thousands):


	Year Ended December 31,
Major Goods/Service Line	2022		2021
Ethanol sales and related products, net	$	240	$	50
Hydrocarbon revenue	81		483
Renewable natural gas commodity	640		—
Environmental attribute revenue	214		—
Total operating revenue	$	1,175	$	533

All goods transferred are tested to ensure that the product sold satisfies the contractual product specifications prior to transfer. The customer obtains control of the goods when title and risk of loss for the goods has transferred. All material contracts have payment terms of between one to three months and there are no return or refund rights.

Contract Assets and Trade Receivables. As of December 31, 2022 and 2021, there were no contract assets or liabilities as all customer amounts owed to the Company are unconditional and the Company does not receive payment in advance for its products. Accordingly, amounts owed by customers are included in "Trade accounts receivable, net" on the Company’s Consolidated Balance Sheets. In addition, due to the nature of the Company’s contracts, there are no costs incurred or to be paid in the future that qualify for asset recognition as a cost to fulfill or obtain a contract.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Asset Impairment	12 Months Ended
Asset Impairment	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Asset Impairment	Asset Impairment During the year ended December 31, 2022, the Company recorded a $24.7 million impairment loss on long-lived assets, to reduce the carrying value of certain property, plant, and equipment, and a leased right of use ("ROU") asset, at the Agri-Energy, LLC ("Agri-Energy") segment to its fair value. The impairments recorded to date relate to the decision to suspend production at the Luverne Facility and shift the plant into an idled, care and maintenance status during the third quarter of 2022. As a result of this change in use, combined with a sustained history of operating losses, the Company assessed that indicators of impairment were present for long-lived assets within its Agri-Energy reporting segment. The Company therefore performed impairment testing and determined that the carrying amounts of certain property plant and equipment and the leased ROU asset exceeded estimated fair values. The Company estimated the fair value of these asset groups generally using a cost approach which is based on replacement or reproduction costs of the assets and is considered a Level 2 measurement and recorded a corresponding impairment loss under Operating Expenses within the Consolidated Statements of Operations. There were no impairment losses recorded during the year ended December 31, 2021.

Net loss Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net loss Per Share

Net Loss per ShareBasic net loss per share is calculated based on the weighted average number of common shares outstanding for the period. Diluted net loss per share is calculated based on the assumption that stock options and other dilutive securities outstanding, which have an exercise price less than the average market price of the Company's common shares during the period, would have been exercised on the later of the beginning of the period or the date granted, and that the funds

obtained from the exercise were used to purchase common shares at the average market price during the period. None of the Company's stock options or other dilutive securities are considered to be dilutive in periods with net losses.

The effect of the Company’s dilutive securities is calculated using the treasury stock method and only those instruments that result in a reduction in net income per common share are included in the calculation. Diluted net loss per share excluded common stock equivalents because the effect of their inclusion would be anti-dilutive or would decrease the reported net loss per share. Therefore 1,675,741 and 4,911,841 of potentially dilutive common stock equivalents have been excluded for the years ended December 31, 2022 and 2021, respectively.

Basic and diluted net loss per share is calculated as follows (net loss in thousands):


	Year Ended December 31,
	2022		2021
Net loss	$	(98,007)	$	(59,203)
Basic weighted-average shares outstanding	221,537,262		195,794,606
Net loss per share - basic and diluted	$	(0.44)	$	(0.30)

Marketable Securities

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

The Company's investments in marketable securities are stated at fair value and are available-for-sale. The following table summarizes the Company's investments in marketable securities (in thousands) as of:


		December 31, 2022
	Maturity	Amortized Cost Basis		Gross Unrealized Losses		Fair Value
Short-term marketable securities
U.S. Treasury notes	Within one year	$	56,418	$	(344)	$	56,074
U.S. Government-sponsored enterprise securities	Within one year	112,030		(696)		111,334
Total short-term marketable securities		$	168,448	$	(1,040)	$	167,408


		December 31, 2021
	Maturity	Amortized Cost Basis		Gross Unrealized Losses		Fair Value
Short-term marketable securities
U.S. Treasury notes	Within one year	$	226,136	$	(344)	$	225,792
U.S. Government-sponsored enterprise securities	Within one year	49,618		(70)		49,548
Total short-term marketable securities		$	275,754	$	(414)	$	275,340

Long-term marketable securities
U.S. Government-sponsored enterprise securities	Within two years	64,596		(200)		64,396
Total long-term marketable securities		$	64,596	$	(200)	$	64,396

The cost of securities sold is based upon the specific identification method. Interest receivable related to the marketable securities of $0.5 million and $1.5 million was included within "Prepaid expenses and other current assets" on the Consolidated Balance Sheets as of December 31, 2022 and 2021, respectively.

Interest income from marketable securities totaled $4.3 million and $0.5 million for the years ended December 31, 2022 and 2021, respectively, and is included in "Investment income (loss)" in the Consolidated Statements of Operations.

Future maturities of the Company's marketable securities are $168.6 million in 2023.

Restricted Cash	12 Months Ended
Restricted Cash	Dec. 31, 2022
Restricted Cash and Cash Equivalents [Abstract]
Restricted Cash	Restricted Cash Short-term and long-term restricted cash of $78.3 million consists of amounts held as collateral for letters of credit to provide financing support for development and construction of the NW Iowa RNG and NZ1 projects and interest earned on restricted cash. The Company entered into an irrevocable direct pay letter of credit (the "Bond Letter of Credit") with Citibank N.A ("Citibank") in April 2021 to support the 2021 Bonds (as defined below) for the development and construction of NW Iowa RNG. See Note 14, Debt, for additional information on the 2021 Bonds. The Bond Letter of Credit has a 0.5% annual fee and expires April 4, 2024 (unless terminated earlier). The Company deposited $71.2 million with Citibank as restricted cash to secure any amounts drawn under the Bond Letter of Credit. The Company is entitled to receive interest income on the restricted cash, and recorded interest income of $0.5 million for the year ended December 31, 2022, included in "Other income, net" in the Consolidated Statements of Operations. As of December 31, 2022, no amounts have been drawn under the Bond Letter of Credit. The proceeds from issuance of the 2021 Bonds recorded as restricted cash are maintained by the Trustee (as defined below) under the Indenture (as defined below) and are released to the Company to pay costs of the construction of NW Iowa RNG. The Company has used all bond proceeds for the project as of December 31, 2022. In September 2022, the Company entered into a Pledge and Assignment agreement with Citibank to provide credit support in the form of a letter of credit (the “Power Letter of Credit”) from Citibank to a local electric utility company in order to induce the utility company to design and construct the power transmission and distribution facilities that will serve NZ1. The Company deposited $6.6 million of restricted cash in an account with Citibank to collateralize the Power Letter of Credit, which has a 0.3% annual fee and expires September 30, 2024 (unless terminated earlier). As of December 31, 2022, no amounts have been drawn under the Power Letter of Credit.

Prepaid and Other Current Assets

12 Months Ended

Dec. 31, 2022

Prepaid Expense and Other Assets, Current [Abstract]

Prepaid and Other Current Assets

The following table sets forth the components of the Company’s prepaid and other current assets (in thousands) as of:


	December 31,
	2022		2021
Prepaid insurance	$	911	$	805
Interest receivable	514		1,530
Prepaid engineering	—		409
Prepaid feedstock, current	1,097		—
Prepaid other	512		863
Total Prepaid and other current assets	$	3,034	$	3,607

Leases, Right-of-Use Assets and Related Liabilities

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases, Right-of-Use Assets and Related Liabilities

The Company is party to an operating lease contract for the Company’s office and research facility in Englewood, Colorado, which expires in January 2029. The lease contains an option to extend the lease which management does not reasonably expect to exercise, so it is not included in the length of the term. The Company also has one production line piece of equipment with an operating lease that expires in 2024.

The Company has four finance leases for land under arrangements related to NW Iowa RNG. Under these contracts, the Company leases land from dairy farmers on which it has built three anaerobic digesters, and related equipment and pipelines to condition raw biogas from cow manure provided by the farmers. The partially conditioned biogas is transported from the three digester sites to a central gas upgrade system located at the fourth site that upgrades the biogas to pipeline-quality RNG for sale. These leases expire at various dates between 2031 and 2050.

Effective October 1, 2022, the Company elected to change its accounting policy covering the application of the practical expedient under ASC 842, Leases. Under the new accounting policy, the Company will account for lease components separately from non-lease components for the Company’s dairy lease asset class. Under the previous

treatment, all amounts paid to the lessor under these arrangements for use of the land, cow manure, and other non-lease services were classified as lease payments and included in the calculation of the right-of-use assets and lease liabilities.

Upon commencement of operations at NW Iowa RNG in the third quarter of 2022, the Company’s dairy lease agreements were evaluated, and it was determined that the practical expedient less accurately reflected the economic substance of the agreements. The Company voluntarily elected this acceptable change in accounting policy effective October 1, 2022. The Company believes the change is preferable as it provides the most useful and transparent financial information and improves comparability and consistency of financial information, resulting in improved financial reporting and alignment with financial information used internally by management. As a result of this change in policy, the Company will retroactively no longer combine lease and non-lease components for all leases in the dairy lease asset class and will account for non-lease components separately and under other, applicable accounting standards.

A summary of the impact of the change in accounting policy on the Consolidated Balance Sheets for each of the three months ended June 30, 2021, September 30, 2021, December 31, 2021, March 31, 2022, June 30, 2022, and September 30, 2022, respectively is as follows: a reduction to Finance Right of Use Asset of $27.3 million, $27.4 million, $27.1 million, $26.7 million, $27.3 million, and $26.8 million; a reduction to Finance Lease Liabilities (Current) of $4.9 million, $2.7 million, $3.4 million, $4.0 million, $6.2 million, and $2.1 million; a reduction to Finance Lease Liabilities (Long-Term) of $19.5 million, $19.4 million, $17.6 million, $17.2 million, $16.2 million, and $16.2 million; a reduction to Construction in Progress of $0.8 million, $0.8 million, $0.8 million, $0.7 million, $0.7 million, and $0.9 million; and an increase to Other Assets of $3.4 million, $6.0 million, $7.4 million, $7.5 million, $7.7 million, and $8.7 million. The Company further recorded an increase to Prepaid Expenses of $1.1 million and Other Assets of $0.9 million for the three months ended June 30, 2022.

A summary of the impact of the change in accounting policy on the Consolidated Statements of Cash Flows for each of the three months ended September 30, 2021, December 31, 2021, and September 30, 2022, respectively is as follows: an increase in Cash Used in Operating Activities of $3.0 million, $4.5 million, and $4.3 million, and a decrease in Cash Used in Financing Activities of $3.0 million, $4.5 million, and $4.3 million. There was not a material impact on the Consolidated Statements of Cash Flows for the periods ended June 30, 2021, March 31, 2022, and June 30, 2022.

The change in accounting policy did not have an incrementally material impact on the three months ended December 31, 2022 as compared to the three months ended September 30, 2022, and no impact on the Consolidated Statements of Operations for the periods listed above.

The following tables present the (i) other quantitative information and (ii) future minimum payments under non-cancelable financing and operating leases as they relate to the Company’s leases (in thousands), except for weighted averages:


	Years Ended December 31,
	2022			2021
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	12		$	15
Operating cash flows from operating leases	804			245
Finance cash flows from finance leases	3			3
Right-of-use asset obtained in exchange for new finance lease liabilities	—			245
Right-of-use asset obtained in exchange for new operating lease liabilities	—			1,611
Weighted-average remaining lease term, finance lease (months)	311			317
Weighted-average remaining lease term, operating leases (months)	65			63
Weighted-average discount rate - finance leases (1)	12		%	11		%
Weighted-average discount rate - operating leases (1)	5		%	5		%

(1)Our leases do not provide an implicit interest rate, and we calculate the lease liability at lease commencement as the present value of unpaid lease payments using our estimated incremental borrowing rate. The incremental borrowing rate represents the rate of interest that we would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term and is determined using a portfolio approach based on information available at the commencement date of the lease.


Year Ending December 31,	Operating Leases		Financing Leases
2023	$	528	$	88
2024	305		31
2025	315		25
2026	324		25
2027	334		25
2028 and thereafter	373		538
Total	2,179		732
Less: Amounts representing present value discounts	(291)		(470)
Total lease liabilities	1,888		262
Less: current portion	(438)		(79)
Long-term portion	$	1,450	$	183

Leases, Right-of-Use Assets and Related Liabilities


	Years Ended December 31,
	2022			2021
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	12		$	15
Operating cash flows from operating leases	804			245
Finance cash flows from finance leases	3			3
Right-of-use asset obtained in exchange for new finance lease liabilities	—			245
Right-of-use asset obtained in exchange for new operating lease liabilities	—			1,611
Weighted-average remaining lease term, finance lease (months)	311			317
Weighted-average remaining lease term, operating leases (months)	65			63
Weighted-average discount rate - finance leases (1)	12		%	11		%
Weighted-average discount rate - operating leases (1)	5		%	5		%


Year Ending December 31,	Operating Leases		Financing Leases
2023	$	528	$	88
2024	305		31
2025	315		25
2026	324		25
2027	334		25
2028 and thereafter	373		538
Total	2,179		732
Less: Amounts representing present value discounts	(291)		(470)
Total lease liabilities	1,888		262
Less: current portion	(438)		(79)
Long-term portion	$	1,450	$	183

Inventories

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventories

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


	December 31,
	2022		2021
Raw materials
Corn	$	—	$	301
Consumables	29		186
Catalyst	139		265
Finished goods
SAF, isooctane and isooctene	1,457		335
Isobutanol	124		223
Ethanol	—		96
Work in process
Isobutanol	—		83
Jet fuel	51		—
Spare parts, net	354		1,262
Environmental attributes	4,193		—
Total inventories	$	6,347	$	2,751

Environmental attributes represent distinguishable and material output from our NW Iowa RNG operations. The Company started allocating the cost of production to the sales value of RNG, credits from California's LCFS program and RINs credits. The value of the environmental attributes is reviewed for potential write-downs based on the net realizable value methodology. During the year ended December 31, 2022 the Company adjusted its environmental attribute inventory to net realizable value and recorded a loss of $0.4 million in cost of production.

During the year ended December 31, 2022 and 2021, the Company adjusted its finished goods and work in process inventory to net realizable value and recorded a loss of $0.8 million and $5.2 million, respectively, in cost of production.

Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

The following table sets forth the Company’s property, plant and equipment by classification (in thousands):


	Useful Life (in years)	December 31,
		2022		2021
Land		$	6,452	$	410
Plant facilities and infrastructure	5 to 20	76,900		84,117
Machinery and equipment	5 to 20	87,248		25,369
Furniture and office equipment	3 to 7	2,977		2,550
Software	3 to 6	2,217		1,564
Construction in progress		72,717		87,591
Total property, plant and equipment		248,511		201,601
Less accumulated depreciation and amortization		(71,639)		(63,859)
Property, plant and equipment, net		$	176,872	$	137,742

The Company recorded depreciation expenses of $6.5 million and $4.8 million for the years ended December 31, 2022 and 2021, respectively.

At December 31, 2022, construction in progress included accruals of $13.8 million.

Construction in progress includes $25.9 million for Gevo, $11.4 million for Agri-Energy related to a fractionation and hydrocarbon skid, $1.0 million for NW Iowa RNG and $34.4 million for NZ1 at December 31, 2022. Construction in progress includes $0.4 million for Gevo, $9.1 million for Agri-Energy, $55.5 million for NW Iowa RNG and $22.5 million for NZ1 at December 31, 2021. Construction in progress is not subject to depreciation until the assets are placed into service.

Borrowing costs. Borrowing costs directly attributable to acquisition and construction of an asset are capitalized until it is completed and ready for its intended use, and thereafter are recognized in profit or loss for the current period. The Company capitalized $0.3 million and nil of interest expense for the years ended December 31, 2022, and 2021, respectively.

Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible AssetsOn September 21, 2021, the Company entered into an asset purchase agreement with Butamax Advanced Biofuels LLC and its affiliate, Danisco US Inc. (collectively, "Butamax"), pursuant to which the Company purchased all of Butamax’s rights, title and interests in certain U.S. and foreign patents and patent applications, subject to specified conditions and encumbrances, relating to the production, recovery and use of biobutanol that were owned by Butamax, for $9.2 million, including $0.2 million of legal fees. Management evaluated the patents to determine whether the patents (i) supported current products; (ii) supported planned research and development; or (iii) prevent others from competing with Gevo's products. Based on the Company's estimated purchase price allocation, approximately $4.3 million of the purchase price was allocated to the purchase of patents to support current products and planned product research and $4.9 million for patents purchased for defensive purposes. The patents are included in "Intangible assets" on the Consolidated Balance Sheets.

Identifiable intangible assets were comprised of the following (in thousands):


	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Identifiable Intangible Assets, net		Weighted-Average Life (Years)
Patents	$	4,580	$	(1,039)	$	3,541	7.4
Defensive assets	4,900		(750)		4,150		8.4
Identifiable intangible assets	$	9,480	$	(1,789)	$	7,691	7.9

	December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Identifiable Intangible Assets, net		Weighted-Average Life (Years)
Patents	$	4,575	$	(368)	$	4,207	7.3
Defensive assets	4,895		(164)		4,731		8.4
Identifiable intangible assets	$	9,470	$	(532)	$	8,938	7.9

The Company recorded amortization expense of $1.3 million and $0.3 million for the years ended December 31, 2022 and 2021, respectively.

The following table details the estimated amortization of identifiable intangible assets as of December 31, 2022 (in thousands):


Year Ending December 31,	Patents		Defensive Assets		Total
2023	$	578	$	586	$	1,164
2024	580		588		1,168
2025	578		586		1,164
2026	578		586		1,164
2027	578		586		1,164
2028 and thereafter	649		1,218		1,867
Total	$	3,541	$	4,150	$	7,691

Accounts Payable and Accrued Liabilities

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Accounts Payable and Accrued Liabilities

The following table sets forth the components of the Company’s accounts payable and accrued liabilities in the Consolidated Balance Sheets (in thousands):


	Year Ended December 31,
	2022		2021
Accounts payable	$	5,009	$	4,830
Accrued liabilities	12,594		18,642
Accrued payroll and related benefits	5,105		4,678
Accrued sales and use tax	2,052		—

Total accounts payable and accrued liabilities	$	24,760	$	28,150

Debt

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Debt

2021 Bond Issuance

On April 15, 2021, on behalf of Gevo NW Iowa RNG, LLC, the Iowa Finance Authority (the "Authority") issued $68,155,000 of its non-recourse Solid Waste Facility Revenue Bonds (Gevo NW Iowa RNG, LLC Renewable Natural Gas Project), Series 2021 (Green Bonds) (the "2021 Bonds") for NW Iowa RNG. The bond proceeds were used as a source of construction financing alongside equity from the Company. The bonds were issued under a Trust Indenture dated April 1, 2021 (the "Indenture") between the Authority and Citibank, N.A. as trustee (the "Trustee"). The 2021 Bonds mature April 1, 2042. The bonds bear interest at 1.5% per annum during the Initial Term Rate Period, (as defined in the Indenture), payable semi-annually on January 1 and July 1 of each year. The effective interest rate is 1.0%. The bonds are supported by the $71.2 million Bond Letter of Credit; see Note 7, Restricted Cash. The Trustee can draw sufficient amounts on the Bond Letter of Credit to pay the principal and interest until the first mandatory tender date of April 1, 2024. The bonds are callable and re-marketable on or after October 1, 2022. If the bonds have not been called and re-marketed by the first mandatory tender date, the Trustee may draw on the Bond Letter of Credit to repay the bonds in their entirety at the purchase price. As of December 31, 2022, no amounts have been drawn under the Bond Letter of Credit.

The 2021 Bonds were issued at a premium of $0.8 million and debt issuance costs were $3.0 million. The bond debt is classified as long-term debt and is presented net of the premium and issuance costs, which are being amortized over the life of the bonds using the interest method. As of December 31, 2022 and 2021, the premium balance and the debt issuance cost net of amortization were $0.4 million, $0.7 million, $1.3 million and $2.3 million, respectively.

Loans Payable - Other

In April 2020, the Company and Agri-Energy each entered into a loan agreement with Live Oak Banking Company, pursuant to which the Company and Agri-Energy obtained loans from the SBA PPP totaling $1.0 million in the aggregate (the "SBA Loans").

In April 2021, the entire balance of $0.5 million of the Company's and $0.1 million of Agri-Energy's loans and accrued interest obtained through the SBA PPP were forgiven. The remaining SBA Loan for Agri-Energy totals $0.3 million, bears interest at 1.0% per annum and matures in April 2025. Monthly payments of $8,230, including interest, began on June 5, 2021 and are payable through April 2025.

The SBA Loans are treated as debt on the Consolidated Balance Sheets and classified as "Loans payable – other (current)" and "Loans payable – other (long-term)". The Consolidated Statements of Operations classifies the interest as "Interest expense" and the loan forgiveness as "Gain on forgiveness of SBA Loans".

The summary of the Company's long-term debt is as follows (in thousands) as of:


									Year Ended December 31,
	Interest Rate					Maturity Date			2022		2021
2021 Bonds	1.5%					January 2042			$	67,223	$	66,486
SBA Loans	1.0%					April 2025			224		320
Equipment	4.0	%	to	5.0	%	February 2022	to	December 2024	94		156
Total loans payable - other									67,541		66,962
Less current portion									(159)		(158)
Long-term portion									$	67,382	$	66,804

Future payments for the Company's long-term debt are as follows (in thousands):


Year Ending December 31,	Total Debt
2023	$	159
2024	67,352
2025	30

Total loans payable - other	$	67,541

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Stock-Based Compensation

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Equity incentive plans. In February 2011, the Company’s stockholders approved the Gevo, Inc. 2010 Stock Incentive Plan (as amended and restated to date, the "2010 Plan") and the Employee Stock Purchase Plan.

The 2010 Plan provides for the grant of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock awards, restricted stock units and other equity awards to employees and directors of the Company. In June 2021, upon approval of the shareholders at the 2021 Annual Meeting of Stockholders, the 2010 Plan was amended and restated, which increased the number of shares of common stock reserved for issuance under the 2010 Plan to 22,980,074 shares. At December 31, 2022, 4,221,225 shares were available for future issuance under the 2010 Plan.

Stock-based compensation expense. The Company records stock-based compensation expense during the requisite service period for share-based payment awards granted to employees and non-employees.

The following table sets forth the Company’s stock-based compensation expense for the periods indicated (in thousands):


	Year Ended December 31,
	2022		2021
Equity Classified Awards
Cost of production	$	(25)	$	43
General and administrative	14,342		5,631
Other	2,618		2,026
Total equity classified awards	16,935		7,700
Liability Classified Awards
General and administrative	—		2,165
Other	—		9
Total liability classified awards	—		2,174
Total stock-based compensation	$	16,935	$	9,874

Stock option award activity. Stock option activity under the Company’s stock incentive plans and changes during the year ended December 31, 2022 were as follows:


	Number of Options	Weighted Average Exercise Price (1)		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Options outstanding at December 31, 2021	4,746,368	$	5.11		$	—
Granted	1,627,683	$	3.45
Canceled or forfeited	(428,730)	$	5.49
Exercised	—	$	—
Options outstanding at December 31, 2022	5,945,321	$	4.65	9.1	$	—
Options vested and expected to vest at December 31, 2022	1,512,054	$	5.32	8.7	$	—

(1)Exercise price of options outstanding range from $2.42 to $11,340 as of December 31, 2022. The higher end of the range is due to the impact of several reverse stock splits during the years 2015 to 2018, subsequent to certain option grants, and relates to awards that expire during 2023.

During the year ended December 31, 2022, 1.5 million stock options vested. As of December 31, 2022, the total unrecognized compensation expense, net of estimated forfeitures, relating to stock options was $13.5 million, which is expected to be recognized over the remaining weighted-average period of approximately 2.4 years.

The following table sets forth the weighted average Black-Scholes option pricing model assumptions (no dividends were expected) and resulting grant date fair value for the stock options granted during the years ended December 31, 2022 and 2021:


	Year Ended December 31,
	2022			2021
Risk-free interest rate	2.90		%	0.92		%
Expected volatility factor	134		%	141		%
Expected option life (years)	6.0			5.9
Weighted-average fair value	$	2.18		$	4.59

There is a maximum contractual term of ten years for the share options. The Company settles stock option exercises with newly issued common shares. No tax benefits were realized by the Company in connection with these exercises as the Company maintains net operating loss carryforwards and has established a valuation allowance against the entire tax benefit.

Restricted Stock. The Company periodically grants restricted stock awards to employees and directors. The vesting period for restricted stock awards granted may be based upon a service period or based upon the attainment of performance objectives. The Company recognizes stock-based compensation over the vesting period, generally two to three years, for awards that vest based upon a service period.

Non-vested restricted stock awards at December 31, 2022 and changes during the year ended December 31, 2022 were as follows:


	Number of Shares	Weighted-Average Grant-Date Fair Value
Non-vested at December 31, 2021	6,882,502	$	3.77
Granted	2,360,605	$	2.57
Vested	(3,561,879)	$	2.86
Canceled or forfeited	(426,771)	$	4.83
Non-vested at December 31, 2022	5,254,457	$	3.94

The total fair value of restricted stock that vested during the years ended December 31, 2022 and 2021 was $10.2 million and $2.8 million, respectively. As of December 31, 2022, the total unrecognized compensation expense, net of estimated forfeitures, relating to restricted stock awards was $16.7 million, which is expected to be recognized over the remaining weighted-average period of approximately 2.3 years. As of December 31, 2022, there are no unvested liability-classified restricted stock awards.

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

As of December 31, 2022, the Company has a federal and state net operating loss (“NOL”) carryover of approximately $170.6 million and $90.4 million, respectively, available to offset future income for income tax reporting purposes. Of our federal net operating carryovers, $1.4 million would expire between the years 2025-2037 and $50.4 million for state, which would expire between the years 2027-2042. The Company’s ability to use the carryover net operating loss may be substantially limited or eliminated pursuant to Internal Revenue Code Section 382. A limitation may apply to the use of the net operation loss and credit carryforwards, under provisions of the Internal Revenue Code that are applicable if we experience an “ownership change”. That may occur, for example, as a result of trading in our stock by significant investors as well as issuance of new equity. Should these limitations apply, the carryforwards would be subject to an annual limitation resulting in a substantial reduction in the gross deferred tax asset.

We periodically evaluate our NOL carryforwards and whether certain changes in ownership have occurred that would limit our ability to utilize a portion of our NOL and tax credit carryforwards. We have evaluated whether we experienced an ownership change, as defined under Section 382, and determined that an ownership change did occur as of July 9, 2020 and January 22, 2021. NOL carryovers of approximately $66.2 million subject to the July 9, 2020 ownership change date are subject to a base $0.1 million annual limitation for each year following said ownership change. The Company will be able to utilize the annual limitation of the NOL carryforwards to offset future taxable incomes. NOL carryovers of approximately $17.9 million that occurred between the July 9, 2020 and January 22, 2021 ownership change dates are subject to a base $11.9 million annual limitation for each year following said ownership change.

The following table sets forth the tax effects of temporary differences that give rise to significant portions of the Company’s net deferred tax assets (in thousands):


	December 31,
	2022		2021
Deferred tax assets, net:
Net operating loss carryforwards	$	40,511	$	29,398
Operating lease assets	(371)		(1,405)
Operating lease liabilities	410		1,489
Depreciation	9,145		3,840
Stock compensation	2,027		1,146
Business interest expense	1,033		1,165
Capitalized research cost	3,334		—
Other temporary differences	691		886
Deferred tax assets	56,780		36,519
Valuation allowance	(56,780)		(36,519)
Net deferred tax assets	$	—	$	—

The Company had a change in accounting principle (discussed in Note 9 above) effective as of December 31, 2022, resulting in the de-election of the practical expedient to combine lease and non-lease components under ASC 842. The company has adjusted the December 31, 2021 balance to reflect the modified retrospective treatment the deferred tax table has been updated to reflect the modified retrospective treatment. To reflect the update, the Company reduced the operating lease asset deferred tax liability by $6.5 million, a reduction to the operating lease liability deferred tax asset of $6.6 million, and an increase in the net operating loss deferred tax asset of $0.1 million.

Beginning in 2022, the Tax Cuts and Jobs Act of 2017 eliminated the option to deduct research and development expenditures in the current year and requires taxpayers to amortize them over five years pursuant to IRC Section 174. The mandatory capitalization requirement increases the deferred tax asset for Capitalized Research Costs by $3.3 million for the year ended December 31, 2022.

ASC 740, Income Taxes, provides for the recognition of deferred tax assets if realization of such assets is more likely than not to occur. Based on management’s review of both the positive and negative evidence, which includes our historical operating performance, reported cumulative net losses since inception and difficulty in accurately forecasting results, we have concluded that it is not more likely than not that we will be able to realize all of our U.S. deferred tax assets. Therefore, we have provided a full valuation allowance against deferred tax assets at December 31, 2022 and 2021, respectively.

The following table sets forth reconciling items from income tax computed at the statutory federal rate:


	Year Ended December 31,
	2022		2021
Federal income tax at statutory rate	21.0	%	21.0	%
State income taxes, net of federal benefits	1.6	%	3.8	%
Permanent deductions	(2.2)	%	0.3	%
Valuation allowance	(20.4)	%	(25.2)	%
Effective tax rate	—	%	—	%

Accounting literature regarding liabilities for unrecognized tax benefits provides guidance for the recognition and measurement in financial statements of uncertain tax positions taken or expected to be taken in a tax return. The Company’s evaluation was performed for the tax periods from inception to December 31, 2022. The Company is subject to examination by major tax jurisdictions for the years ended December 31, 2016 to 2022.

The Company recognizes uncertain tax positions net, against any operating losses or applicable research credits as they arise. Currently, there are no uncertain tax positions recognized at December 31, 2022 and 2021, respectively.On August 16, 2022, the Inflation Reduction Act of 2022 (“IRA”) was enacted into law and is effective for taxable years beginning after December 31, 2022. The IRA includes multiple incentives to promote clean energy and remains subject to additional guidance releases. While the clean energy provisions in the IRA are expected to have a material impact on the Company, there are no significant current tax expense impacts with the newly enacted law during the year ended December 31, 2022.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Employee Benefit Plan	12 Months Ended
Employee Benefit Plan	Dec. 31, 2022
Retirement Benefits [Abstract]
Employee Benefit Plan	Employee Benefit PlanThe Company sponsors the Gevo, Inc. 401(k) Plan (the "401(k) Plan") under Section 401(k) of the Internal Revenue Code. Subject to certain eligibility requirements, the 401(k) Plan covers substantially all employees beginning the month after employment. Employee contributions are deposited by the Company into the 401(k) Plan and may not exceed the maximum statutory contribution amount. The Company may make matching and/or discretionary contributions to the 401(k) Plan. The Company did not provide an employer match during the years ended December 31, 2022 and 2021. Beginning January 1, 2023, the 401(k) Plan was amended to require matching contributions to the 401(k) Plan by the Company on behalf of the participants, with the Company matching 100 percent up to three percent, and an additional 50 percent on up to two percent of an employee's elective contributions, computed on a per pay period basis. The matching contributions will be made in shares of the Company's common stock and vest immediately.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Legal Matters. From time to time, the Company has been and may again become involved in legal proceedings arising in the ordinary course of its business. The Company is not presently a party to any litigation and is not aware of any pending or threatened litigation against the Company that it believes could have a material adverse effect on its business, operating results, financial condition or cash flows.

Indemnifications. In the ordinary course of its business, the Company makes certain indemnities under which it may be required to make payments in relation to certain transactions. As of December 31, 2022 and 2021, the Company did not have any liabilities associated with indemnities.

In addition, the Company indemnifies its officers and directors for certain events or occurrences, subject to certain limitations. The duration of these indemnifications, commitments, and guarantees varies and, in certain cases, is indefinite. The maximum amount of potential future indemnification is unlimited; however, the Company has a director and officer insurance policy that may enable it to recover a portion of any future amounts paid. The Company accrues losses for any known contingent liability, including those that may arise from indemnification provisions, when future payment is probable. No such losses have been recorded to date.

Environmental Liabilities. The Company’s operations are subject to environmental laws and regulations adopted by various governmental authorities in the jurisdictions in which it operates. These laws require the Company to investigate and remediate the effects of the release or disposal of materials at its locations. Accordingly, the Company has adopted policies, practices and procedures in the areas of pollution control, occupational health and the production, handling, storage and use of hazardous materials to prevent material environmental or other damage, and to limit the financial liability which could result from such events. Environmental liabilities are recorded when the Company’s liability is probable, and the costs can be reasonably estimated. No environmental liabilities have been recorded as of December 31, 2022.

Fuel Supply Commitment. The Company has three long-term fuel supply contracts to source feedstock for the anaerobic digesters at the NW Iowa RNG project. These contracts provide an annual amount of feedstock to be used in the production of RNG.

Praj Commitment. In June 2021 the Company contracted with a manufacturer in India to build a fractionation and hydrocarbon skid for $10.2 million. The remaining commitment for the contract is $3.6 million as of December 31, 2022, which is expected to be completed in 2023.

Zero6 Commitments. In September 2022, the Company entered into a development agreement with Zero6 to construct and operate a wind project for the provision of electric energy for NZ1. Pursuant to the agreement, the Company has committed to pay Zero6 total development charges of $8.6 million, comprised of advanced development fee payments of $0.9 million, certain reimbursable costs of $1.2 million, and $6.5 million upon completion of the project. The Company is not contractually obligated for the specified development charges until certain milestones are met in future periods, and upon completion of the project.

Additionally, the Company's investment in Zero6, see Note 13 above, is pledged separately as collateral for two commitments for the purchase of wind electricity for the Luverne Facility, as well as the purchase of 100% of RCWF's renewable energy credits. Gevo has a commitment to purchase all of RCWF's electricity. The portion not used by the Luverne Facility is charged to the Company at a lower price.

The estimated commitments as of December 31, 2022, and thereafter are shown below (in thousands):


	December 31,												Total
	2023		2024		2025		2026		2027		2028 and thereafter
Fuel Supply Payments	$	3,744	$	2,408	$	1,702	$	1,718	$	1,736	$	28,263	$	39,571
Zero6 Commitment	250		350		6,776		—		—		—		7,376
Praj Commitment	3,600		—		—		—		—		—		3,600
Renewable Energy Credits	148		148		148		149		148		1,831		2,572
Electricity Above Use (Est.)	250		263		275		287		300		4,798		6,173
Total	$	7,992	$	3,169	$	8,901	$	2,154	$	2,184	$	34,892	$	59,292

Fair Value Measurements

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Accounting standards define fair value, outline a framework for measuring fair value, and detail the required disclosures about fair value measurements. Under these standards, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most advantageous market. Standards establish a hierarchy in determining the fair market value of an asset or liability. The fair value hierarchy has three levels of inputs, both observable and unobservable. Standards require the utilization of the highest possible level of input to determine fair value.

Level 1 – inputs include quoted market prices in an active market for identical assets or liabilities.

Level 2 – inputs are market data, other than Level 1, that are observable either directly or indirectly. Level 2 inputs include quoted market prices for similar assets or liabilities, quoted market prices in an inactive market, and other observable information that can be corroborated by market data.

Level 3 – inputs are unobservable and corroborated by little or no market data.

The carrying value and fair value, by fair value hierarchy, of the Company's financial instruments at December 31, 2022 and 2021 are as follows (in thousands):


			Fair Value Measurements at December 31, 2022
	Fair Value at December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Recurring
Marketable securities
U.S. Treasury notes	$	56,074	$	56,074	$	—	$	—
U.S. Government sponsored enterprise securities	111,334		111,334		—		—
Total recurring	$	167,408	$	167,408	$	—	$	—


			Fair Value Measurements at December 31, 2021
	Fair Value at December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Recurring
Marketable securities
U.S. Treasury notes	$	225,792	$	225,792	$	—	$	—
U.S. Government sponsored enterprise securities	113,944		113,944		—		—
Other
Liability-classified restricted stock awards	702		702		—		—
Total recurring	$	340,438	$	340,438	$	—	$	—

The Company had no transfers of assets or liabilities between fair value hierarchy levels during the years ended December 31, 2022 and 2021.

For the 2021 Bonds, the fair values are estimated using the Black-Derman-Toy interest rate lattice framework. The effective maturity of the 2021 Bonds was assumed to be April 1, 2024 (three years from issuance) with repayment of 100% of principal on that date. The impact of the Company's optional redemption feature, effective October 1, 2022, is appropriately captured by the Black-Derman-Toy interest rate lattice. The carrying values and estimated fair values of the 2021 Bonds as of December 31, 2022 are summarized as follows (in thousands):


	Carrying Value		Estimated Fair Value
2021 Bonds	$	67,223	$	65,438

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Shareholders' Equity

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Shareholders' Equity

Share Issuances

In February 2018, the Company commenced an at-the-market offering program, which allows it to sell and issue shares of its common stock from time to time. In 2021, the at-the-market offering program was amended to provide a total capacity of $500.0 million. During the year ended December 31, 2021, the Company issued 24,420,579 shares of common

stock under the at-the-market offering program for total proceeds of $135.8 million, net of commissions and other offering related expenses totaling $3.6 million. As of December 31, 2022, the Company has remaining capacity to issue up to approximately $360.6 million of common stock under the at-the-market offering program.

On January 19, 2021, the Company completed a registered direct offering pursuant to a securities purchase agreement with certain institutional and accredited investors providing for the issuance and sale by the Company of an aggregate of 43,750,000 shares of the Company’s common stock at a price of $8.00 per share (the "January 2021 Offering"). The net proceeds to the Company from the January 2021 Offering were approximately $321.7 million, after deducting placement agent fees and other estimated offering expenses payable by the Company.

On June 8, 2022, the Company completed a registered direct offering ("the June 2022 Offering") of an aggregate of 33,333,336 shares of the Company’s common stock at a price of $4.50 per share, accompanied by Series 2022-A warrants to purchase an aggregate of 33,333,336 shares of the Company’s common stock (each, a “Series 2022-A Warrant”) pursuant to a securities purchase agreement with certain institutional and accredited investors. The Series 2022-A Warrants are exercisable for a term of five years from the date of issuance at an exercise price of $4.37 per share. As of December 31, 2022, none of the Series 2022-A Warrants had been exercised.

The net proceeds to the Company from the June 2022 Offering were $139.2 million, after deducting placement agent's fees, advisory fees and other offering expenses payable by the Company, and assuming none of the Series 2022-A Warrants issued in the June 2022 Offering are exercised for cash. The Company intends to use the net proceeds from the June 2022 Offering to fund capital projects, working capital and for general corporate purposes.

Warrants

In addition to the Series 2022-A Warrants, the Company has warrants outstanding that were issued in conjunction with a registered direct offering in August 2020 (the “Series 2020-A Warrants”). The Company evaluated the Series 2022-A Warrants and Series 2020-A Warrants for liability or equity classification and determined that equity treatment was appropriate because both the Series 2022-A Warrants and Series 2020-A Warrants do not meet the definition of liability instruments.

During the year ended December 31, 2021, the Company received notices of exercise from holders of our Series 2020-A Warrants to issue an aggregate of 1,866,558 shares of common stock for total gross proceeds of approximately $1.1 million. As of December 31, 2022, there were 85,931 Series 2020-A Warrants outstanding.

The Series 2022-A Warrants and Series 2020-A Warrants are classified as a component of equity because they are freestanding financial instruments that are legally detachable and separately exercisable from the shares of common stock with which they were issued, are immediately exercisable and will expire five years from the date of issuance, do not embody an obligation for the Company to repurchase its shares, and permit the holders to receive a fixed number of shares of common stock upon exercise. In addition, the Series 2022-A Warrants and Series 2020-A Warrants do not provide any guarantee of value or return. The Company valued the Series 2022-A Warrants and Series 2020-A Warrants at issuance using the Black-Scholes option pricing model. The fair value at the issuance date of the Series 2022-A Warrants was $92.9 million with the key inputs to the valuation model including a weighted average volatility of 151.1%, a risk-free rate of 2.86% and an expected term of five years. The fair value at the issuance date of the Series 2020-A Warrants was $8.3 million with the key inputs to the valuation model including a weighted average volatility of 130%, a risk-free rate of 0.30% and an expected term of five years.

While the Company believes that its valuation methods are appropriate and consistent with other market participants, it recognizes that the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date.

On February 17, 2022, the remaining Series K warrants expired with 7,126 unexercised warrants.

The following table sets forth information pertaining to shares issued upon the exercise of warrants:


	Issuance Date	Expiration Date	Exercise Price as of December 31, 2022		Shares Underlying Warrants on Issuance Date	Shares Issued upon Warrant Exercises as of December 31, 2022	Shares Underlying Warrants Outstanding as of December 31, 2022
Series 2020-A Warrants (1)	7/6/2020	7/6/2025	$	0.60	30,000,000	29,914,069	85,931
Series 2022-A Warrants (1)	6/8/2022	6/7/2027	$	4.37	33,333,336	—	33,333,336
Total Warrants					63,333,336	29,914,069	33,419,267

(1)Equity-classified warrants.

During the year ended December 31, 2022, common stock was issued as a result of the exercise of warrants as shown below (dollars in thousands):


	Common Stock Issued	Proceeds
Series 2020-A Warrants	4,677	$	3

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

+ Details

Segments

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segments

Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is the CODM. The CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. As such, management has determined that the Company has organized its operations and activities into three reportable segments: (i) Gevo segment; (ii) Agri-Energy segment; (iii) Renewable Natural Gas segment. Transactions between segments are eliminated in consolidation.

Gevo segment. The Gevo segment is responsible for all research and development activities related to the future production of SAF, commercial opportunities for other renewable hydrocarbon products, such as hydrocarbons for gasoline blendstocks and diesel fuel; ingredients for the chemical industry, such as ethylene and butenes; plastics and materials; and other chemicals. The Gevo segment also develops, maintains and protects its intellectual property portfolio, provides corporate oversight services, and is responsible for development and construction of our Net-Zero Projects.

Agri-Energy segment. The Agri-Energy segment is currently responsible for the operation of the Company’s Luverne Facility, and the development and optimization of the production of isobutanol, ethanol and related products.

Renewable Natural Gas segment. The Renewable Natural Gas segment produces-pipeline quality methane gas captured from dairy cow manure.


	Year Ended December 31, 2022
	Gevo		Agri-Energy		Renewable Natural Gas		Consolidated
Revenues from external customers	$	81	$	240	$	854	$	1,175
Loss from operations	$	(58,427)	$	(40,171)	$	(4,088)	$	(102,686)
Acquisitions of licenses, patents, plant, property and equipment	$	47,647	$	4,091	$	27,126	$	78,864


	Year Ended December 31, 2021
	Gevo		Agri-Energy		Renewable Natural Gas		Consolidated
Revenues from external customers	$	483	$	50	$	—	$	533
Loss from operations	$	(42,332)	$	(16,783)	$	(1,153)	$	(60,268)
Acquisitions of licenses, patents, plant, property and equipment	$	36,595	$	5,716	$	52,470	$	94,781


	December 31, 2022
	Gevo		Agri-Energy		Renewable Natural Gas		Consolidated
Total assets	$	573,057	$	34,440	$	93,251	$	700,748


	December 31, 2021
	Gevo		Agri-Energy		Renewable Natural Gas		Consolidated
Total assets	$	484,528	$	64,008	$	96,845	$	645,381

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn February 14, 2023, the Company entered into a Hydrogen Development Services Agreement with Zero6, to develop and construct a hydrogen gas production facility for the provision of electric energy for NZ1. Pursuant to the agreement in 2023, the Company made an initial payment of $10.7 million to procure the required equipment, with the payment being either reimbursed upon completion of the project or used as an investment into the power generation facility. Gevo has contractual priority liens against the equipment and constructed facilities under the contract.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation. The Consolidated Financial Statements of Gevo include the accounts of its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Basis of presentation	Basis of Presentation. The Consolidated Financial Statements of the Company (which include the accounts of its wholly-owned subsidiaries Gevo Asset, LLC, Gevo RNG Holdco, LLC, Gevo NW Iowa RNG, LLC, Gevo Net-Zero HoldCo, LLC, Gevo Net-Zero 1, LLC and Agri-Energy, LLC) have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC") and accounting principles generally accepted in the U.S. ("U.S. GAAP") for complete financial statements. These statements reflect all normal and recurring adjustments which, in the opinion of management, are necessary to present fairly the financial position, results of operations and cash flows of the Company at December 31, 2022.
Reclassifications	Reclassifications. The Company reclassified certain prior period amounts to conform to the current period presentation. The reclassifications included removing a redundant subtotal, cost of goods sold, to align with industry peers and the categorization of depreciation and amortization on the Consolidated Statements of Operations, which had no impact on total revenues, total operating expenses, net loss or stockholders' equity for any period.
Use of Estimates	Use of Estimates. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates.
Concentrations of Credit Risk	Concentrations of Credit Risk. The Company’s financial instruments that are exposed to concentrations of credit risk consist of cash and cash equivalents in excess of the federally insured limits. The Company’s cash and cash equivalents are deposited with high credit-quality financial institutions and are primarily in demand deposit accounts and money market funds.
Cash, Cash Equivalents	Cash, Cash Equivalents and Restricted Cash. The Company maintains its cash and cash equivalents in highly liquid interest-bearing money market accounts or non-interest-bearing demand accounts. The Company considers all highly liquid investments purchased with a maturity of three months or less at the date of acquisition to be cash equivalents. Restricted cash is classified as current or non-current based on the terms of the underlying agreements and represents cash held as deposits and cash collateral for financial letters of credit.
Restricted Cash	Cash, Cash Equivalents and Restricted Cash. The Company maintains its cash and cash equivalents in highly liquid interest-bearing money market accounts or non-interest-bearing demand accounts. The Company considers all highly liquid investments purchased with a maturity of three months or less at the date of acquisition to be cash equivalents. Restricted cash is classified as current or non-current based on the terms of the underlying agreements and represents cash held as deposits and cash collateral for financial letters of credit.
Marketable Securities	Marketable Securities. The Company’s marketable securities consist of marketable debt securities and have been classified and accounted for as available-for-sale. Management determines the appropriate classification of its investments at the time of purchase and reevaluates the classifications at each balance sheet date. The Company classifies its marketable securities as either short-term or long-term based on each instrument’s underlying contractual maturity date. Marketable securities with maturities of 12 months or less are classified as short-term and marketable securities with maturities greater than 12 months are classified as long-term. The Company’s marketable securities are carried at fair value, with unrealized gains and losses, net of taxes, reported as a component of accumulated other comprehensive loss in shareholders’ equity, with the exception of unrealized losses believed to be other-than-temporary, which are reported in earnings in the current period.
Trade Accounts Receivable	Trade Accounts Receivable, net. The Company records receivables for products shipped and services provided but for which payment has not yet been received. In evaluating its allowance for doubtful accounts for accounts receivable, the Company performs ongoing reviews of its outstanding receivables to determine if any amounts are uncollectible and adjusts the allowance for doubtful accounts accordingly.
Inventories	Inventories. Inventory is recorded at net realizable value. Isobutanol and ethanol inventory cost consists of the applicable share of raw material, direct labor and manufacturing overhead. Work in process inventory includes unfinished SAF, isooctane and isooctene inventory. Spare Parts inventory consists of the parts required to maintain and operate the Company’s Luverne Facility and is recorded at cost. For each reporting period, the Company reviews the value of inventories on hand to estimate the recoverability through future sales. The Company reduces its inventories with adjustments for lower of cost or net realizable value, with cost determined by the average cost method.
Environmental Attribute Inventory	Environmental Attribute Inventory. The Company generates D3 Renewable Identification Numbers ("RINs") and Low Carbon Fuel Standard ("LCFS") credits (collectively, "environmental attributes") through the production of RNG used for transportation purposes as prescribed under the Renewable Fuels Standard program ("RFS"). Environmental attribute inventory is included as a component of "Inventories" on the Consolidated Balance Sheets. The Company considers environmental attributes to be a distinguishable product that is generated as an integral component of the production process of RNG as the environmental attributes that are generated can be separated from the underlying commodity and may be sold independently from the RNG produced. As such, the Company considers environmental attributes to be a co-product of the production of RNG and accordingly allocates the costs of production based on the relative sales value of all revenue items for the NW Iowa RNG operations. The value of the environmental attributes is reviewed for potential write-downs based on the net realizable value methodology. Revenue is recognized on these environmental attributes when there is an agreement in place to monetize the credits at an agreed upon price with a customer based upon defined third party market prices and a transfer of control has occurred.
Property, Plant and Equipment. Property	Property, Plant and Equipment. Property, plant and equipment are recorded at cost less accumulated depreciation and amortization. Leasehold improvements are amortized over the term of the lease agreement or the service lives of the improvements, whichever is shorter. Assets under construction are depreciated when they are placed into service. Maintenance and repairs are charged to expense as incurred and expenditures for major improvements are capitalized. Construction in Progress. Construction in progress represents expenditures necessary to bring an asset, project, new facilities or equipment to the condition and location necessary for its intended use and are capitalized and recorded at cost. Once completed and ready for its intended use, the asset is transferred to property, plant and equipment to be depreciated or amortized. Depreciation and Amortization. Capitalized costs are depreciated or amortized using the straight-line method at rates sufficient to depreciate such costs over the shorter of estimated productive lives of such assets or the useful life of the individual assets. The estimates of productive lives may change, possibly in the near term, resulting in changes to depreciation and amortization rates in future reporting periods.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets. The Company evaluates the recoverability of the recorded amount of long-lived assets, including property, plant and equipment, licenses, patents, operating lease right-of-use assets, and finance lease right-of-use assets when events or changes in circumstances indicate that their carrying amount may not be recoverable. The carrying amount of a long-lived asset is considered to be impaired if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the assets. If the Company determines that an asset is impaired, it measures the impairment to be recognized as the amount by which the recorded amount of the asset exceeds its fair value.
Leases, Right-of-Use Assets and Related Liabilities	Leases, Right-of-Use Assets and Related Liabilities. The Company enters into various arrangements which constitute a lease as defined by Accounting Standards Codification ("ASC") 842, Leases, as part of its ongoing business activities and operations. Leases represent a contract or part of a contract that conveys the right to control the use of identified property, plant or equipment (an identified asset) for a period of time in exchange for consideration. Such contracts result in both (a) right-of-use assets, which represent the Company’s right to use an underlying asset for the term of the contract; and (b) a corresponding lease liability which represents the Company’s obligation to make the lease payments arising from the contract. The Company has elected not to recognize a right-of-use asset and lease liability for any lease with an original lease term of 12 months or less. Lease expense for such leases is recognized on a straight-line basis over the lease term. A lease is classified as a finance lease when one or more of the following criteria are met: (i) the lease transfers ownership of the asset by the end of the lease term, (ii) the lease contains an option to purchase the asset that is reasonably certain to be exercised, (iii) the lease term is for a major part of the remaining useful life of the asset, (iv) the present value of the lease payments equals or exceeds substantially all of the fair value of the asset, or (v) the asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. If a lease does not meet any of these criteria, the lease is classified as an operating lease. Lease liabilities are initially measured at the lease commencement date based on the present value of lease payments over the lease term, discounted using an estimate of the Company’s incremental borrowing rate for a collateralized loan with the same term and payment as the lease. Right-of-use assets are measured based on the amount of the lease liability adjusted for any lease payments made to the lessor at or before the lease commencement date less any lease incentives received. All right-of-use assets are evaluated for impairment in accordance with accounting standards applicable to long-lived assets. Renewal options are included in the calculation of our right-of-use assets and lease liabilities when the Company determines that the option is reasonably certain of exercise based on an analysis of the relevant facts and circumstances. Certain of the Company’s leases require variable lease payments that do not depend on an index or rate and such payments are excluded from the calculation of the right-of-use asset and lease liability and are recognized as variable lease cost when incurred. Lease cost for operating leases consists of the fixed lease payments recognized on a straight-line basis over the lease term plus variable lease payments as incurred. Lease cost for finance leases consists of amortization of the right-of-use assets on a straight-line basis over the lease term, interest expense on the lease liability and variable lease payments as incurred. The Company has elected the practical expedient to account for the lease and non-lease components as a single lease component for its corporate office lease asset class. Effective October 1, 2022, the Company made the voluntary determination to change its accounting policy covering the application of the practical expedient under ASC 842, Leases. Under the new accounting policy, the Company will account for lease components separately from non-lease components for the Company’s dairy lease asset class. The Company voluntarily elected this acceptable change in accounting policy effective October 1, 2022. The Company believes the change is preferable as it provides the most useful and transparent financial information and improves comparability and consistency of financial information, resulting in improved financial reporting and alignment with financial information used internally by management. The total consideration in the lease agreement will be allocated to the lease and non-lease components based on their relative standalone selling prices. Under the previous treatment, all amounts paid to the lessor under these arrangements for use of the land and cow manure were classified as lease payments and included in the calculation of the right-of-use assets and lease liabilities. The Company has retrospectively adopted this change in accounting policy described above and has provided the appropriate disclosures as required in ASC 250-10, see Note 9 Leases.
Intangible assets	Intangible assets. Intangible assets consist of patents. Costs related to patents, including legal fees, are capitalized and amortized over the estimated useful lives using the straight-line method. Amortization expense is recorded in "Depreciation and amortization" in the Operating expenses section of the Consolidated Statements of Operations. For patents purchased in an asset acquisition, the useful life is determined by valuation estimates of remaining economic life. The patents are included in "Intangible assets, net" on the Consolidated Balance Sheets. The Company periodically evaluates the amortization period and carrying value of its patents to determine whether any events or circumstances warrant revised estimated useful life or reduction in value.
Borrowing Costs	Borrowing Costs. The borrowing costs that are directly attributable to the acquisition and construction of an asset that needs a substantially long period of time for its intended use to begin are capitalized and recorded as part of the cost of the asset when expenditures for the asset and borrowing costs have been incurred, and the activities relating to the acquisition and construction that are necessary to prepare the asset for its intended use have commenced. The capitalization of borrowing costs ceases when the asset under acquisition or construction becomes ready for its intended use and the borrowing costs incurred thereafter are recognized in profit or loss for the current period. The capitalization of borrowing costs is suspended during periods in which the acquisition or construction of an asset is interrupted abnormally and the interruption lasts for more than three months, until the acquisition or construction is resumed.
Debt Issuance Costs and Debt Discounts/Premiums	Debt Issuance Costs and Debt Discounts/Premiums. Debt issuance costs are costs with third parties incurred in connection with the Company’s debt financings that have been capitalized and are being amortized over the stated maturity period or estimated life of the related debt using the effective interest method. Debt issuance costs are presented as a direct reduction of the carrying amount of the related debt. Debt discounts, including fees paid to lenders, and debt premiums are amortized over the life of the related debt using the effective interest method. Debt discounts and premiums are presented as a reduction and increase, respectively, in the carrying amount of the related debt. Amortization of debt issuance costs, discounts and premiums is included in interest expense.
Warrants	Warrants. Warrants are classified as a component of permanent equity when they are freestanding financial instruments that are legally detachable and separately exercisable from the shares of common stock with which they were issued, are immediately exercisable, do not embody an obligation for the Company to repurchase its shares, permit the holders to receive a fixed number of shares of common stock upon exercise and do not provide any guarantee of value or return.
Revenue Recognition	Revenue Recognition. The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers (“ASC 606”). Revenue from the Company’s point in time product sales is recognized when products are transferred, or services are invoiced and control transferred. The Company has presented the disclosures required by ASC 606, see Note 3, Revenues from contracts with customers and other revenues.
Cost of Goods Sold	Cost of Production. Cost of production includes costs incurred in operations for the production of RNG and isobutanol, as well as costs for direct materials, direct labor and certain plant overhead costs, and plant utilities including natural gas and wind power. Direct materials consist of dextrose for initial production of isobutanol, corn feedstock, manure feedstock, denaturant, and process chemicals. Direct labor includes compensation of personnel directly involved in production operations. Plant overhead costs primarily consist of plant utilities. The Company purchases natural gas and wind power to power steam generation in the production process and to dry the distillers grains, a by-product of ethanol and related products production.
Research and Development	Research and Development. Research and development costs are expensed as incurred. The Company’s research and development costs consist of expenses incurred to identify, develop, and test its technologies for the production of isobutanol and the development of downstream applications thereof. Research and development expense includes personnel costs (including stock-based compensation), consultants and related contract research, facility costs, supplies, license fees and milestone payments paid to third parties for use of their intellectual property and patent rights and other direct and allocated expenses incurred to support the Company’s overall research and development programs.
General and Administrative	General and Administrative. General and administrative expense are expensed as incurred. The Company's general and administrative costs consist of personnel costs (including stock-based compensation), consulting and service provider expenses (including patent counsel-related costs), legal fees, marketing costs, insurance costs, occupancy-related costs, travel and relocation expenses and hiring expenses.
Project Development Costs	Project Development Costs. Project development costs consist of consulting, preliminary engineering costs, and personnel costs, including stock-based compensation.
Stock-Based Compensation	Stock-Based Compensation. The Company’s stock-based compensation expense includes expenses associated with share-based awards granted to employees and board members. Our stock-based compensation is classified as either an equity award or a liability award in accordance with U.S. GAAP. The fair value of an equity-classified award is determined at the grant date and is amortized on a straight-line basis over the requisite service period. The fair-value of a liability-classified award is determined on a quarterly basis through the final vesting date and is amortized based on the current fair value of the award and the percentage of vesting period incurred to date. The grant date fair value for stock option awards is estimated using the Black-Scholes option pricing model and the grant date fair value for restricted stock awards is based upon the closing price of the Company’s common stock on the date of grant. The Company recognizes compensation costs for share-based payment awards granted to employees net of actual forfeitures and recognizes stock-based compensation expense for only those awards expected to vest on a straight-line basis over the requisite service period of the award, which is currently the vesting term of up to three years. The Company accounts for stock-based employee compensation plans under the fair value recognition and measurement provisions in accordance with applicable accounting standards, which require all stock-based payments to employees, including grants of stock options and restricted stock awards, to be measured based on the grant date fair value of the awards, with the resulting expense generally recognized on a straight-line basis over the period during which the employee is required to perform service in exchange for the award. Stock-based compensation expense related to restricted stock awards and stock options are recorded net of actual forfeitures in our Consolidated Statements of Operations. Liability awards are subject to variable accounting treatment, such that they are remeasured at fair value each reporting period through the Consolidated Statements of Operations. Any impact of forfeitures are based on actual forfeitures, although not affecting the fair value measurement of the awards, and are reflected at that time as well.
Income Taxes	Income Taxes. In preparing the Consolidated Financial Statements, the Company estimates the actual amount of taxes currently payable or receivable as well as deferred tax assets and liabilities attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using currently enacted tax rates in effect in the years in which those temporary differences are expected to reverse. Deferred tax assets are be reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Changes in deferred tax assets and liabilities generally have a direct impact on earnings in the period of the changes. Where applicable tax laws and regulations are either unclear or subject to varying interpretations, it is possible that changes in these estimates could occur that materially affect the amounts of deferred income tax assets and liabilities recorded in the Consolidated Financial Statements. Each period, we evaluate the likelihood of whether or not some portion or all of each deferred tax asset will be realized and provide a valuation allowance for those deferred tax assets for which it is more likely than not that the related benefits will not be realized. When evaluating our valuation allowance, we consider historic and future expected levels of taxable income, the pattern and timing of reversals of taxable temporary timing differences that give rise to deferred tax liabilities, and tax planning initiatives. Levels of future taxable income are affected by, among other things, production costs, interest rates, and federal and local legislation. If we determine that all or a portion of the deferred tax assets will not be realized, a valuation allowance will be recorded with a charge to income tax expense. Conversely, if we determine that we will ultimately be able to realize all or a portion of the related benefits for which a valuation allowance has been provided, all or a portion of the related valuation allowance will be reduced with a credit to income tax expense. In addition, the calculation of income tax expense involves significant management estimation and judgment involving a number of assumptions. In determining these amounts, management interprets tax legislation in each of the jurisdictions in which we operate and makes estimates of the expected timing of the reversal of future tax assets and liabilities. We also make assumptions about future earnings, tax planning strategies and the extent to which potential future tax benefits will be used. We are also subject to assessments by various taxation authorities which may interpret tax legislation differently, which could affect the final amount or the timing of tax payments. The Company may from time to time be assessed interest or penalties by major tax jurisdictions, although there have been no such assessments historically with any material impact to its financial results. The Company would recognize interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying Consolidated Statements of Operations. Accrued interest and penalties would be included within the related tax liability line in the Consolidated Balance Sheets.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements Government Assistance Disclosures. In November 2021, the FASB issued ASU 2021-10, Disclosures by Business Entities about Government Assistance (“ASU 2021-10”). ASU 2021-10 details financial reporting disclosure requirements that increase the transparency of transactions with a government accounted for by applying a grant or contribution accounting model by analogy. The new guidance is effective for annual periods beginning after December 15, 2021 and interim reporting periods within those reporting periods. The Company adopted the new standard as of January 1, 2022, which did not have an impact on the Company’s disclosures related to governmental grants or an impact to the results of operations and financial position as of the adoption date. See Note 15, Debt, for additional disclosures related to the Small Business Administration’s Paycheck Protection Program ("SBA PPP").

Revenues from Contracts with Customers and Other Revenue (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following tables display the Company’s revenue by major source based on product type for the years ended December 31, 2022 and 2021 (in thousands):


	Year Ended December 31,
Major Goods/Service Line	2022		2021
Ethanol sales and related products, net	$	240	$	50
Hydrocarbon revenue	81		483
Renewable natural gas commodity	640		—
Environmental attribute revenue	214		—
Total operating revenue	$	1,175	$	533

Net loss Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Net Loss Per Share

Basic and diluted net loss per share is calculated as follows (net loss in thousands):


	Year Ended December 31,
	2022		2021
Net loss	$	(98,007)	$	(59,203)
Basic weighted-average shares outstanding	221,537,262		195,794,606
Net loss per share - basic and diluted	$	(0.44)	$	(0.30)

Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments in Marketable Securities


		December 31, 2022
	Maturity	Amortized Cost Basis		Gross Unrealized Losses		Fair Value
Short-term marketable securities
U.S. Treasury notes	Within one year	$	56,418	$	(344)	$	56,074
U.S. Government-sponsored enterprise securities	Within one year	112,030		(696)		111,334
Total short-term marketable securities		$	168,448	$	(1,040)	$	167,408


		December 31, 2021
	Maturity	Amortized Cost Basis		Gross Unrealized Losses		Fair Value
Short-term marketable securities
U.S. Treasury notes	Within one year	$	226,136	$	(344)	$	225,792
U.S. Government-sponsored enterprise securities	Within one year	49,618		(70)		49,548
Total short-term marketable securities		$	275,754	$	(414)	$	275,340

Long-term marketable securities
U.S. Government-sponsored enterprise securities	Within two years	64,596		(200)		64,396
Total long-term marketable securities		$	64,596	$	(200)	$	64,396

Prepaid and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2022

Prepaid Expense and Other Assets, Current [Abstract]

Schedule of Prepaid and Other Assets

The following table sets forth the components of the Company’s prepaid and other current assets (in thousands) as of:


	December 31,
	2022		2021
Prepaid insurance	$	911	$	805
Interest receivable	514		1,530
Prepaid engineering	—		409
Prepaid feedstock, current	1,097		—
Prepaid other	512		863
Total Prepaid and other current assets	$	3,034	$	3,607

Leases, Right-of-Use Assets and Related Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of Lease, Cost


	Years Ended December 31,
	2022			2021
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	12		$	15
Operating cash flows from operating leases	804			245
Finance cash flows from finance leases	3			3
Right-of-use asset obtained in exchange for new finance lease liabilities	—			245
Right-of-use asset obtained in exchange for new operating lease liabilities	—			1,611
Weighted-average remaining lease term, finance lease (months)	311			317
Weighted-average remaining lease term, operating leases (months)	65			63
Weighted-average discount rate - finance leases (1)	12		%	11		%
Weighted-average discount rate - operating leases (1)	5		%	5		%

Schedule of Operating Lease, Liability, Fiscal Year Maturity


Year Ending December 31,	Operating Leases		Financing Leases
2023	$	528	$	88
2024	305		31
2025	315		25
2026	324		25
2027	334		25
2028 and thereafter	373		538
Total	2,179		732
Less: Amounts representing present value discounts	(291)		(470)
Total lease liabilities	1,888		262
Less: current portion	(438)		(79)
Long-term portion	$	1,450	$	183

Schedule of Finance Lease, Liability, Fiscal Year Maturity


Year Ending December 31,	Operating Leases		Financing Leases
2023	$	528	$	88
2024	305		31
2025	315		25
2026	324		25
2027	334		25
2028 and thereafter	373		538
Total	2,179		732
Less: Amounts representing present value discounts	(291)		(470)
Total lease liabilities	1,888		262
Less: current portion	(438)		(79)
Long-term portion	$	1,450	$	183

Inventories (Tables)

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Schedule of Inventories

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


	December 31,
	2022		2021
Raw materials
Corn	$	—	$	301
Consumables	29		186
Catalyst	139		265
Finished goods
SAF, isooctane and isooctene	1,457		335
Isobutanol	124		223
Ethanol	—		96
Work in process
Isobutanol	—		83
Jet fuel	51		—
Spare parts, net	354		1,262
Environmental attributes	4,193		—
Total inventories	$	6,347	$	2,751

Property, Plant, and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

The following table sets forth the Company’s property, plant and equipment by classification (in thousands):


	Useful Life (in years)	December 31,
		2022		2021
Land		$	6,452	$	410
Plant facilities and infrastructure	5 to 20	76,900		84,117
Machinery and equipment	5 to 20	87,248		25,369
Furniture and office equipment	3 to 7	2,977		2,550
Software	3 to 6	2,217		1,564
Construction in progress		72,717		87,591
Total property, plant and equipment		248,511		201,601
Less accumulated depreciation and amortization		(71,639)		(63,859)
Property, plant and equipment, net		$	176,872	$	137,742

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Identifiable Intangible Assets

Identifiable intangible assets were comprised of the following (in thousands):


	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Identifiable Intangible Assets, net		Weighted-Average Life (Years)
Patents	$	4,580	$	(1,039)	$	3,541	7.4
Defensive assets	4,900		(750)		4,150		8.4
Identifiable intangible assets	$	9,480	$	(1,789)	$	7,691	7.9

	December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Identifiable Intangible Assets, net		Weighted-Average Life (Years)
Patents	$	4,575	$	(368)	$	4,207	7.3
Defensive assets	4,895		(164)		4,731		8.4
Identifiable intangible assets	$	9,470	$	(532)	$	8,938	7.9

Schedule of Estimated Amortization of Identifiable Intangible Assets

The following table details the estimated amortization of identifiable intangible assets as of December 31, 2022 (in thousands):


Year Ending December 31,	Patents		Defensive Assets		Total
2023	$	578	$	586	$	1,164
2024	580		588		1,168
2025	578		586		1,164
2026	578		586		1,164
2027	578		586		1,164
2028 and thereafter	649		1,218		1,867
Total	$	3,541	$	4,150	$	7,691

Deposits and Other Assets (Tables)

12 Months Ended

Dec. 31, 2022

Other Assets, Noncurrent [Abstract]

Schedule of Deposits and Other Assets

The following table sets forth the components of the Company's deposits and other assets (in thousands) as of:


	Year Ended December 31,
	2022		2021
Deposits (1)	$	276	$	831
Prepaid feedstock (2)	934		—
Equity interest (3)	1,500		1,500
Exclusivity fees (4)	2,522		3,250
Deposits receivable (5)	8,302		—
Other assets, net (6)	8,460		7,365
Total Deposits and Other Assets	$	21,994	$	12,946

(1)Deposits for legal services and products for NZ1.

(2)Prepaid feedstock fees, non-current, for the production of RNG.

Accounts Payable and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Liabilities

The following table sets forth the components of the Company’s accounts payable and accrued liabilities in the Consolidated Balance Sheets (in thousands):


	Year Ended December 31,
	2022		2021
Accounts payable	$	5,009	$	4,830
Accrued liabilities	12,594		18,642
Accrued payroll and related benefits	5,105		4,678
Accrued sales and use tax	2,052		—

Total accounts payable and accrued liabilities	$	24,760	$	28,150

Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt

The summary of the Company's long-term debt is as follows (in thousands) as of:


									Year Ended December 31,
	Interest Rate					Maturity Date			2022		2021
2021 Bonds	1.5%					January 2042			$	67,223	$	66,486
SBA Loans	1.0%					April 2025			224		320
Equipment	4.0	%	to	5.0	%	February 2022	to	December 2024	94		156
Total loans payable - other									67,541		66,962
Less current portion									(159)		(158)
Long-term portion									$	67,382	$	66,804

Schedule of Future Payments for Long-term Debt

Future payments for the Company's long-term debt are as follows (in thousands):


Year Ending December 31,	Total Debt
2023	$	159
2024	67,352
2025	30

Total loans payable - other	$	67,541

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

The following table sets forth the Company’s stock-based compensation expense for the periods indicated (in thousands):


	Year Ended December 31,
	2022		2021
Equity Classified Awards
Cost of production	$	(25)	$	43
General and administrative	14,342		5,631
Other	2,618		2,026
Total equity classified awards	16,935		7,700
Liability Classified Awards
General and administrative	—		2,165
Other	—		9
Total liability classified awards	—		2,174
Total stock-based compensation	$	16,935	$	9,874

Schedule Stock Option Award Activity

Stock option award activity. Stock option activity under the Company’s stock incentive plans and changes during the year ended December 31, 2022 were as follows:


	Number of Options	Weighted Average Exercise Price (1)		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Options outstanding at December 31, 2021	4,746,368	$	5.11		$	—
Granted	1,627,683	$	3.45
Canceled or forfeited	(428,730)	$	5.49
Exercised	—	$	—
Options outstanding at December 31, 2022	5,945,321	$	4.65	9.1	$	—
Options vested and expected to vest at December 31, 2022	1,512,054	$	5.32	8.7	$	—

Schedule of Stock Option Pricing Assumptions


	Year Ended December 31,
	2022			2021
Risk-free interest rate	2.90		%	0.92		%
Expected volatility factor	134		%	141		%
Expected option life (years)	6.0			5.9
Weighted-average fair value	$	2.18		$	4.59

Schedule of Non-vested Restricted Stock Awards

Non-vested restricted stock awards at December 31, 2022 and changes during the year ended December 31, 2022 were as follows:


	Number of Shares	Weighted-Average Grant-Date Fair Value
Non-vested at December 31, 2021	6,882,502	$	3.77
Granted	2,360,605	$	2.57
Vested	(3,561,879)	$	2.86
Canceled or forfeited	(426,771)	$	4.83
Non-vested at December 31, 2022	5,254,457	$	3.94

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Net Deferred Tax Assets

The following table sets forth the tax effects of temporary differences that give rise to significant portions of the Company’s net deferred tax assets (in thousands):


	December 31,
	2022		2021
Deferred tax assets, net:
Net operating loss carryforwards	$	40,511	$	29,398
Operating lease assets	(371)		(1,405)
Operating lease liabilities	410		1,489
Depreciation	9,145		3,840
Stock compensation	2,027		1,146
Business interest expense	1,033		1,165
Capitalized research cost	3,334		—
Other temporary differences	691		886
Deferred tax assets	56,780		36,519
Valuation allowance	(56,780)		(36,519)
Net deferred tax assets	$	—	$	—

Schedule of Effective Income Tax Rate Reconciliation

The following table sets forth reconciling items from income tax computed at the statutory federal rate:


	Year Ended December 31,
	2022		2021
Federal income tax at statutory rate	21.0	%	21.0	%
State income taxes, net of federal benefits	1.6	%	3.8	%
Permanent deductions	(2.2)	%	0.3	%
Valuation allowance	(20.4)	%	(25.2)	%
Effective tax rate	—	%	—	%

Commitment and Contingencies (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Estimated Commitments

The estimated commitments as of December 31, 2022, and thereafter are shown below (in thousands):


	December 31,												Total
	2023		2024		2025		2026		2027		2028 and thereafter
Fuel Supply Payments	$	3,744	$	2,408	$	1,702	$	1,718	$	1,736	$	28,263	$	39,571
Zero6 Commitment	250		350		6,776		—		—		—		7,376
Praj Commitment	3,600		—		—		—		—		—		3,600
Renewable Energy Credits	148		148		148		149		148		1,831		2,572
Electricity Above Use (Est.)	250		263		275		287		300		4,798		6,173
Total	$	7,992	$	3,169	$	8,901	$	2,154	$	2,184	$	34,892	$	59,292

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments, by Fair Value Hierarchy

The carrying value and fair value, by fair value hierarchy, of the Company's financial instruments at December 31, 2022 and 2021 are as follows (in thousands):


			Fair Value Measurements at December 31, 2022
	Fair Value at December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Recurring
Marketable securities
U.S. Treasury notes	$	56,074	$	56,074	$	—	$	—
U.S. Government sponsored enterprise securities	111,334		111,334		—		—
Total recurring	$	167,408	$	167,408	$	—	$	—


			Fair Value Measurements at December 31, 2021
	Fair Value at December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Recurring
Marketable securities
U.S. Treasury notes	$	225,792	$	225,792	$	—	$	—
U.S. Government sponsored enterprise securities	113,944		113,944		—		—
Other
Liability-classified restricted stock awards	702		702		—		—
Total recurring	$	340,438	$	340,438	$	—	$	—

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The carrying values and estimated fair values of the 2021 Bonds as of December 31, 2022 are summarized as follows (in thousands):


	Carrying Value		Estimated Fair Value
2021 Bonds	$	67,223	$	65,438

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of Warrants

The following table sets forth information pertaining to shares issued upon the exercise of warrants:


	Issuance Date	Expiration Date	Exercise Price as of December 31, 2022		Shares Underlying Warrants on Issuance Date	Shares Issued upon Warrant Exercises as of December 31, 2022	Shares Underlying Warrants Outstanding as of December 31, 2022
Series 2020-A Warrants (1)	7/6/2020	7/6/2025	$	0.60	30,000,000	29,914,069	85,931
Series 2022-A Warrants (1)	6/8/2022	6/7/2027	$	4.37	33,333,336	—	33,333,336
Total Warrants					63,333,336	29,914,069	33,419,267

(1)Equity-classified warrants.

During the year ended December 31, 2022, common stock was issued as a result of the exercise of warrants as shown below (dollars in thousands):


	Common Stock Issued	Proceeds
Series 2020-A Warrants	4,677	$	3

Segments (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


	Year Ended December 31, 2022
	Gevo		Agri-Energy		Renewable Natural Gas		Consolidated
Revenues from external customers	$	81	$	240	$	854	$	1,175
Loss from operations	$	(58,427)	$	(40,171)	$	(4,088)	$	(102,686)
Acquisitions of licenses, patents, plant, property and equipment	$	47,647	$	4,091	$	27,126	$	78,864


	Year Ended December 31, 2021
	Gevo		Agri-Energy		Renewable Natural Gas		Consolidated
Revenues from external customers	$	483	$	50	$	—	$	533
Loss from operations	$	(42,332)	$	(16,783)	$	(1,153)	$	(60,268)
Acquisitions of licenses, patents, plant, property and equipment	$	36,595	$	5,716	$	52,470	$	94,781


	December 31, 2022
	Gevo		Agri-Energy		Renewable Natural Gas		Consolidated
Total assets	$	573,057	$	34,440	$	93,251	$	700,748


	December 31, 2021
	Gevo		Agri-Energy		Renewable Natural Gas		Consolidated
Total assets	$	484,528	$	64,008	$	96,845	$	645,381

Nature of Business, Financial Condition and Basis of Presentation (Details) milking_cow in Thousands, ft² in Thousands, $ in Thousands, lb in Millions	Dec. 31, 2022 USD ($) a ft² dairy milking_cow lb gal	Dec. 31, 2021 USD ($)
Nature of Business, Financial Condition and Basis of Presentation [Line Items]
Number of dairies \| dairy	3
Number of milking cows \| milking_cow	20
Cash and cash equivalents	$ 237,125	$ 40,833
Short and long-term restricted cash	78,300
Marketable securities	$ 167,400
Lake Preston, South Dakota \| Sustainable Aviation Fuel (SAF)
Nature of Business, Financial Condition and Basis of Presentation [Line Items]
Project production capacity (in gallon per year) \| gal	62,000,000
Lake Preston, South Dakota \| Hydrocarbon revenue
Nature of Business, Financial Condition and Basis of Presentation [Line Items]
Project production capacity (in gallon per year) \| gal	55,000,000
Lake Preston, South Dakota \| High-Value Protein Products
Nature of Business, Financial Condition and Basis of Presentation [Line Items]
Project production capacity (in pound per year) \| lb	475
Lake Preston, South Dakota \| Corn Oil
Nature of Business, Financial Condition and Basis of Presentation [Line Items]
Project production capacity (in pound per year) \| lb	30
Luverne, Minnesota \| Land
Nature of Business, Financial Condition and Basis of Presentation [Line Items]
Area of land (in acres) \| a	55
Luverne, Minnesota \| Building and Building Improvements
Nature of Business, Financial Condition and Basis of Presentation [Line Items]
Area of real estate property \| ft²	50

Summary of Significant Accounting Policies (Details)	12 Months Ended
Summary of Significant Accounting Policies (Details)	Dec. 31, 2022
Accounting Policies [Abstract]
Awards vesting period	3 years

Revenues from Contracts with Customers and Other Revenue - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 1,175,000	$ 533,000
Contract with customer, asset, after allowance for credit loss	0	0
Contract with customer, liability	$ 0	0
Minimum
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, payment terms	1 month
Maximum
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, payment terms	3 months
Renewable natural gas commodity
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 640,000	0
Environmental Attributes
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 214,000	$ 0

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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+ Details

Revenues from Contracts with Customers and Other Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total operating revenue	$ 1,175	$ 533
Ethanol sales and related products, net
Disaggregation of Revenue [Line Items]
Total operating revenue	240	50
Hydrocarbon revenue
Disaggregation of Revenue [Line Items]
Total operating revenue	81	483
Renewable natural gas commodity
Disaggregation of Revenue [Line Items]
Total operating revenue	640	0
Environmental attribute revenue
Disaggregation of Revenue [Line Items]
Total operating revenue	$ 214	$ 0

- Definition

+ References

+ Details

Asset Impairment (Details) - USD ($) $ in Thousands	12 Months Ended
Asset Impairment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Impairment loss	$ 24,749	$ 0

Net loss Per Share - Narrative (Details) - shares	12 Months Ended
Net loss Per Share - Narrative (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Potential anti-dilutive shares excluded from net loss per share calculation (in shares)	1,675,741,000	4,911,841,000

Net loss Per Share - Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net loss, basic	$ (98,007)	$ (59,203)
Net loss, diluted	$ (98,007)	$ (59,203)
Basic weighted-average shares outstanding (in shares)	221,537,262	195,794,606
Net loss per share - basic (in dollars per share)	$ (0.44)	$ (0.30)
Net loss per share - diluted (in dollars per share)	$ (0.44)	$ (0.30)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Marketable Securities - Investments In Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Short-term marketable securities, amortized cost basis	$ 168,448	$ 275,754
Short-term marketable securities, gross unrealized losses	(1,040)	(414)
Short-term marketable securities, fair value	167,408	275,340
Long-term marketable securities, amortized cost basis		64,596
Long-term marketable securities, gross unrealized losses		(200)
Long-term marketable securities, fair value		64,396
U.S. Treasury notes
Debt Securities, Available-for-sale [Line Items]
Short-term marketable securities, amortized cost basis	56,418	226,136
Short-term marketable securities, gross unrealized losses	(344)	(344)
Short-term marketable securities, fair value	56,074	225,792
U.S. Government-sponsored enterprise securities
Debt Securities, Available-for-sale [Line Items]
Short-term marketable securities, amortized cost basis	112,030	49,618
Short-term marketable securities, gross unrealized losses	(696)	(70)
Short-term marketable securities, fair value	$ 111,334	49,548
Long-term marketable securities, amortized cost basis		64,596
Long-term marketable securities, gross unrealized losses		(200)
Long-term marketable securities, fair value		$ 64,396

Marketable Securities - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Marketable Securities [Line Items]
Interest receivable	$ 514	$ 1,530
Interest income	4,300	500
Marketable securities maturities in 2023	168,600
Prepaid Expenses and Other Current Assets
Marketable Securities [Line Items]
Interest receivable	$ 500	$ 1,500

Restricted Cash (Details) - USD ($)	1 Months Ended	12 Months Ended
Restricted Cash (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2022	Apr. 15, 2021
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash for letters of credit		$ 78,300,000
Interest income on restricted cash		$ 500,000
2021 Bonds
Restricted Cash and Cash Equivalents Items [Line Items]
Debt collateral amount			$ 71,200,000
Bond Letter of Credit
Restricted Cash and Cash Equivalents Items [Line Items]
Line of credit annual fee percentage		0.50%
Letters of credit outstanding		$ 0
Power Letter of Credit
Restricted Cash and Cash Equivalents Items [Line Items]
Line of credit annual fee percentage	0.30%
Debt collateral amount	$ 6,600,000
Letters of credit outstanding		$ 0

Prepaid and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid insurance	$ 911	$ 805
Interest receivable	514	1,530
Prepaid engineering	0	409
Prepaid feedstock, current	1,097	0
Prepaid other	512	863
Total Prepaid and other current assets	$ 3,034	$ 3,607

Leases, Right-of-Use Assets and Related Liabilities - Narrative (Details) $ in Thousands	3 Months Ended			12 Months Ended
	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2022 USD ($) contract site	Dec. 31, 2021 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($)
Leases [Abstract]
Number of finance lease \| contract				4
Number of digester sites \| site				3
Lessee, Lease, Description [Line Items]
Reduction to finance right of use asset		$ 236		$ 219	$ 236
Reduction to finance lease liabilities (current)		11		79	11
Reduction to finance lease liabilities (long-term)		242		183	242
Increase in cash used in operating activities				(52,613)	(48,271)
Increase (decrease) in cash used for financing activities				$ 138,562	517,324
Revision of Prior Period, Change in Accounting Principle, Adjustment
Lessee, Lease, Description [Line Items]
Reduction to finance right of use asset	$ (26,800)	(27,100)	$ (27,400)		(27,100)	$ (27,300)	$ (26,700)	$ (27,300)
Reduction to finance lease liabilities (current)	(2,100)	(3,400)	(2,700)		(3,400)	(6,200)	(4,000)	(4,900)
Reduction to finance lease liabilities (long-term)	(16,200)	(17,600)	(19,400)		(17,600)	(16,200)	(17,200)	(19,500)
Increase (decrease) in construction in progress	(900)	(800)	(800)		(800)	(700)	(700)	(800)
Increase (decrease) in other assets	8,700	7,400	6,000		$ 7,400	7,700	$ 7,500	$ 3,400
Increase (decrease) in prepaid expenses,						1,100
Increase (decrease) in prepaid expenses and other assets						$ 900
Increase in cash used in operating activities	4,300	4,500	3,000
Increase (decrease) in cash used for financing activities	$ (4,300)	$ (4,500)	$ (3,000)

Leases, Right-of-Use Assets and Related Liabilities - Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$ 12	$ 15
Operating cash flows from operating leases	804	245
Finance cash flows from finance leases	3	3
Right-of-use asset obtained in exchange for new finance lease liabilities	0	245
Right-of-use asset obtained in exchange for new operating lease liabilities	$ 0	$ 1,611
Weighted-average remaining lease term, finance lease (months)	311 months	317 months
Weighted-average remaining lease term, operating leases (months)	65 months	63 months
Weighted-average discount rate - finance leases	12.00%	11.00%
Weighted-average discount rate - operating leases	5.00%	5.00%

Leases, Right-of-Use Assets and Related Liabilities - Future Minimum Payments Under Non-Cancelable (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating Leases
2023	$ 528
2024	305
2025	315
2026	324
2027	334
2028 and thereafter	373
Total	2,179
Less: Amounts representing present value discounts	(291)
Total lease liabilities	1,888
Less: current portion	(438)	$ (772)
Long-term portion	1,450	1,902
Finance Leases
2023	88
2024	31
2025	25
2026	25
2027	25
2028 and thereafter	538
Total	732
Less: Amounts representing present value discounts	(470)
Total lease liabilities	262
Less: current portion	(79)	(11)
Long-term portion	$ 183	$ 242

Inventories - Components of Inventory Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventory [Line Items]
Spare parts, net	$ 354	$ 1,262
Environmental attributes	4,193	0
Total inventories	6,347	2,751
Corn
Inventory [Line Items]
Raw materials	0	301
Consumables
Inventory [Line Items]
Raw materials	29	186
Catalyst
Inventory [Line Items]
Raw materials	139	265
SAF, isooctane and isooctene
Inventory [Line Items]
Finished goods	1,457	335
Isobutanol
Inventory [Line Items]
Finished goods	124	223
Work in process	0	83
Ethanol
Inventory [Line Items]
Finished goods	0	96
Jet fuel
Inventory [Line Items]
Work in process	$ 51	$ 0

Inventories - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Inventories - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Environmental attributes
Inventory [Line Items]
Inventory write-down	$ 0.4
Finished goods and work in process inventory
Inventory [Line Items]
Inventory write-down	$ 0.8	$ 5.2

Property, Plant, and Equipment - Property, Plant and Equipment by Classification (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 248,511	$ 201,601
Less accumulated depreciation and amortization	(71,639)	(63,859)
Property, plant and equipment, net	176,872	137,742
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	6,452	410
Plant facilities and infrastructure
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 76,900	84,117
Plant facilities and infrastructure \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life (in years)	5 years
Plant facilities and infrastructure \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life (in years)	20 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 87,248	25,369
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life (in years)	5 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life (in years)	20 years
Furniture and office equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 2,977	2,550
Furniture and office equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life (in years)	3 years
Furniture and office equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life (in years)	7 years
Software
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 2,217	1,564
Software \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life (in years)	3 years
Software \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life (in years)	6 years
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 72,717	$ 87,591

Property, Plant, and Equipment - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 6,500	$ 4,800
Total property, plant and equipment	248,511	201,601
Construction in progress
Property, Plant and Equipment [Line Items]
Construction in progress accrual	13,800
Total property, plant and equipment	72,717	87,591
Interest Costs Capitalized	300	0
Construction in progress \| Gevo
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	25,900	400
Construction in progress \| Agri-Energy
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	11,400	9,100
Construction in progress \| NW Lowa RNG
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	1,000	55,500
Construction in progress \| NZ1
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 34,400	$ 22,500

Intangible Assets - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
	Sep. 21, 2021	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets (less than)		$ 1.3	$ 0.3
Butamax
Finite-Lived Intangible Assets [Line Items]
Asset acquisition, purchase price	$ 9.2
Asset acquisition, legal fees	0.2
Butamax \| Patents
Finite-Lived Intangible Assets [Line Items]
Asset acquisition, intangible assets	4.3
Butamax \| Defensive assets
Finite-Lived Intangible Assets [Line Items]
Asset acquisition, intangible assets	$ 4.9

Intangible Assets - Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 9,480	$ 9,470
Accumulated Amortization	(1,789)	(532)
Identifiable Intangible Assets, net	$ 7,691	$ 8,938
Weighted-Average Life (Years)	7 years 10 months 24 days	7 years 10 months 24 days
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,580	$ 4,575
Accumulated Amortization	(1,039)	(368)
Identifiable Intangible Assets, net	$ 3,541	$ 4,207
Weighted-Average Life (Years)	7 years 4 months 24 days	7 years 3 months 18 days
Defensive assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,900	$ 4,895
Accumulated Amortization	(750)	(164)
Identifiable Intangible Assets, net	$ 4,150	$ 4,731
Weighted-Average Life (Years)	8 years 4 months 24 days	8 years 4 months 24 days

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 1.3	$ 0.3

Intangible Assets - Estimated Amortization of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	$ 1,164
2024	1,168
2025	1,164
2026	1,164
2027	1,164
2028 and thereafter	1,867
Identifiable Intangible Assets, net	7,691	$ 8,938
Patents
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	578
2024	580
2025	578
2026	578
2027	578
2028 and thereafter	649
Identifiable Intangible Assets, net	3,541	4,207
Defensive assets
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	586
2024	588
2025	586
2026	586
2027	586
2028 and thereafter	1,218
Identifiable Intangible Assets, net	$ 4,150	$ 4,731

Deposits and Other Assets (Details) $ in Thousands	12 Months Ended
Deposits and Other Assets (Details) $ in Thousands	Dec. 31, 2022 USD ($) commitment	Dec. 31, 2021 USD ($)
Deposits and Other Assets [Line Items]
Deposits	$ 276	$ 831
Prepaid feedstock	934	0
Equity interest	1,500	1,500
Exclusivity fees	2,522	3,250
Deposits receivable	8,302	0
Other assets, net	8,460	7,365
Total Deposits and Other Assets	$ 21,994	$ 12,946
Number of commitments with collateral \| commitment	2
Deposits receivable, reimbursed or used as investment	$ 5,500
Deposits receivable, fully reimbursed upon completion	$ 2,800
Zero6 \| Series A Preferred Stock
Deposits and Other Assets [Line Items]
Noncontrolling interest, ownership percentage	4.60%

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accounts payable	$ 5,009	$ 4,830
Accrued liabilities	12,594	18,642
Accrued payroll and related benefits	5,105	4,678
Accrued sales and use tax	2,052	0
Total accounts payable and accrued liabilities	$ 24,760	$ 28,150

Debt - Narrative (Details) - USD ($)	1 Months Ended		12 Months Ended
Debt - Narrative (Details) - USD ($)	Apr. 30, 2021	Apr. 30, 2020	Dec. 31, 2022	Dec. 31, 2021	Apr. 15, 2021
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt			$ 0	$ 68,995,000
Long-term debt			67,541,000	66,962,000
2021 Bonds
Debt Instrument [Line Items]
Debt collateral amount					$ 71,200,000
2021 Bonds \| Securitization Bonds Payable
Debt Instrument [Line Items]
Aggregate principal amount					$ 68,155,000
Interest rate					1.50%
Effective interest rate (in percent)					1.00%
Debt collateral amount					$ 71,200,000
Letters of credit outstanding			0
Debt premium			400,000	700,000	800,000
Debt issuance costs			$ 1,300,000	2,300,000	$ 3,000,000
2021 Bonds \| Loans Payable
Debt Instrument [Line Items]
Interest rate			1.50%
Long-term debt			$ 67,223,000	66,486,000
SBA Loans \| Loans Payable
Debt Instrument [Line Items]
Interest rate	1.00%		1.00%
Proceeds from issuance of long-term debt		$ 1,000,000
Debt instrument, decrease, forgiveness	$ 500,000
Long-term debt	300,000		$ 224,000	$ 320,000
Debt Instrument, monthly payment	8,230
SBA Loans \| Loans Payable \| Agri-Energy
Debt Instrument [Line Items]
Debt instrument, decrease, forgiveness	$ 100,000

Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Apr. 30, 2021
Debt Instrument [Line Items]
Total loans payable - other	$ 67,541	$ 66,962
Less current portion	(159)	(158)
Long-term portion	$ 67,382	66,804
Loans Payable \| 2021 Bonds
Debt Instrument [Line Items]
Interest Rate	1.50%
Total loans payable - other	$ 67,223	66,486
Loans Payable \| SBA Loans
Debt Instrument [Line Items]
Interest Rate	1.00%		1.00%
Total loans payable - other	$ 224	320	$ 300
Loans Payable \| Equipment
Debt Instrument [Line Items]
Total loans payable - other	$ 94	$ 156
Loans Payable \| Equipment \| Minimum
Debt Instrument [Line Items]
Interest Rate	4.00%
Loans Payable \| Equipment \| Maximum
Debt Instrument [Line Items]
Interest Rate	5.00%

Debt - Future Principal Payments for Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2023	$ 159
2024	67,352
2025	30
Total loans payable - other	$ 67,541	$ 66,962

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Jun. 09, 2021
Schedule of Equity Incentive Plans [Line Items]
Options vested (in shares)	1,500,000
Awards vesting period	3 years
Stock option
Schedule of Equity Incentive Plans [Line Items]
Total unrecognized compensation expense, net of estimated forfeitures, relating to stock options	$ 13.5
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition	2 years 4 months 24 days
Award contractual term	10 years
Stock option \| Minimum
Schedule of Equity Incentive Plans [Line Items]
Awards vesting period	2 years
Stock option \| Maximum
Schedule of Equity Incentive Plans [Line Items]
Awards vesting period	3 years
Restricted Stock
Schedule of Equity Incentive Plans [Line Items]
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition	2 years 3 months 18 days
Total fair value of restricted stock, vested	$ 10.2	$ 2.8
Total unrecognized compensation expense, net of estimated forfeitures, relating to restricted stock awards	$ 16.7
2010 Plan
Schedule of Equity Incentive Plans [Line Items]
Number of shares of common stock reserved for issuance (in shares)			22,980,074
Number of shares available for awards (in shares)	4,221,225

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 16,935	$ 9,874
Equity Classified Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	16,935	7,700
Equity Classified Awards \| Cost of production
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	(25)	43
Equity Classified Awards \| General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	14,342	5,631
Equity Classified Awards \| Other
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	2,618	2,026
Liability Classified Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	0	2,174
Liability Classified Awards \| General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	0	2,165
Liability Classified Awards \| Other
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 0	$ 9

Stock-Based Compensation - Stock Option Award Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, Beginning Balance (in shares)	4,746,368
Granted (in shares)	1,627,683
Canceled or forfeited (in shares)	(428,730)
Exercised (in shares)	0
Outstanding, Ending Balance (in shares)	5,945,321	4,746,368
Options vested and expected to vest (in shares)	1,512,054
Weighted-Average Exercise Price
Beginning Balance (in dollars per share)	$ 5.11
Granted (in dollars per share)	3.45
Canceled or forfeited (in dollars per share)	5.49
Exercised (in dollars per share)	0
Ending Balance (in dollars per share)	4.65	$ 5.11
Options vested and expected to vest (in dollars per share)	$ 5.32
Weighted-Average Remaining Contractual Term (years) And Aggregate Intrinsic Value
Options Outstanding, Weighted Average Remaining Contractual Term (years)	9 years 1 month 6 days
Options Vested and Expected to Vest, Weighted Average Remaining Contractual Term (years)	8 years 8 months 12 days
Options Outstanding, Aggregate Intrinsic Value	$ 0	$ 0
Granted, Aggregate Intrinsic Value
Canceled or forfeited, Aggregate Intrinsic Value
Exercised, Aggregate Intrinsic Value
Options vested and expected to vest	$ 0
Minimum
Weighted-Average Remaining Contractual Term (years) And Aggregate Intrinsic Value
Exercise price of options outstanding (in dollars per share)	$ 2.42
Maximum
Weighted-Average Remaining Contractual Term (years) And Aggregate Intrinsic Value
Exercise price of options outstanding (in dollars per share)	$ 11,340

Stock-Based Compensation - Stock Option Valuation Assumptions (Details) - Stock option - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum	2.90%
Risk-free interest rate, maximum		0.92%
Expected volatility factor, minimum	134.00%
Expected volatility factor, maximum		141.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option life (years)	6 years
Weighted-average fair value (in USD per share)	$ 2.18
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option life (years)		5 years 10 months 24 days
Weighted-average fair value (in USD per share)		$ 4.59

Stock-Based Compensation - Non-vested Restricted Stock (Details) - Restricted Stock	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Number of Shares
Outstanding , Beginning Balance (in shares) \| shares	6,882,502
Granted (in shares) \| shares	2,360,605
Vested and issued (in shares) \| shares	(3,561,879)
Canceled or forfeited (in shares) \| shares	(426,771)
Nonvested, Ending Balance (in shares) \| shares	5,254,457
Weighted-Average Grant-Date Fair Value
Outstanding , Beginning Balance (in dollars per share) \| $ / shares	$ 3.77
Granted (in dollars per share) \| $ / shares	2.57
Vested and issued (in dollars per share) \| $ / shares	2.86
Canceled or forfeited (in dollars per share) \| $ / shares	4.83
Nonvested, Ending Balance (in dollars per share) \| $ / shares	$ 3.94

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Jan. 22, 2021	Jul. 09, 2020
Operating Loss Carryforwards [Line Items]
Deferred tax assets, operating lease liabilities	$ 410,000	$ 1,489,000
Net operating loss carryforwards	40,511,000	29,398,000
Increases of deferred tax asset for Capitalized Research Costs	3,300,000
Unrecognized tax benefits	0	0
Revision of Prior Period, Adjustment
Operating Loss Carryforwards [Line Items]
Deferred tax liabilities, operating lease assets		6,500,000
Deferred tax assets, operating lease liabilities		6,600,000
Net operating loss carryforwards		$ 100,000
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	170,600,000
Operating loss carryforwards, amount subject to expiration	1,400,000
Operating loss carryforwards, subject to ownership change			$ 17,900,000	$ 66,200,000
Operating loss carryforwards, subject to ownership change, annual limitation amount			$ 11,900,000	$ 100,000
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	90,400,000
Operating loss carryforwards, amount subject to expiration	$ 50,400,000

Income Taxes - Net Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 40,511	$ 29,398
Operating lease assets	(371)	(1,405)
Operating lease liabilities	410	1,489
Depreciation	9,145	3,840
Stock compensation	2,027	1,146
Business interest expense	1,033	1,165
Capitalized research cost	3,334	0
Other temporary differences	691	886
Deferred tax assets	56,780	36,519
Valuation allowance	(56,780)	(36,519)
Net deferred tax assets	$ 0	$ 0

Income Taxes - Reconciling Items from Income Tax (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal income tax at statutory rate	21.00%	21.00%
State income taxes, net of federal benefits	1.60%	3.80%
Permanent deductions	(2.20%)	0.30%
Valuation allowance	(20.40%)	(25.20%)
Effective tax rate	0.00%	0.00%

Employee Benefit Plan (Details) - USD ($)	2 Months Ended	12 Months Ended
Employee Benefit Plan (Details) - USD ($)	Mar. 09, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Employer discretionary contribution amount		$ 0	$ 0
Subsequent Event
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, percent of match	100.00%
Employer matching contribution, percent of employee's elective contributions	3.00%
Employer matching contribution, additional percent of match	50.00%
Employer matching contribution, additional percent of employee's elective contributions	2.00%

Commitments and Contingencies - Narrative (Details)	1 Months Ended	12 Months Ended
Commitments and Contingencies - Narrative (Details)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) commitment	Dec. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)
Gain Contingencies [Line Items]
Liabilities associated with indemnities		$ 0	$ 0
Environmental liabilities		0
Contractual obligation		$ 3,600,000		$ 10,200,000
Number of commitments with collateral \| commitment		2
Commitment collateral, percentage of renewable energy credits		100.00%
Development Agreement With Zero6
Gain Contingencies [Line Items]
Collaborative arrangement, development charges committed to pay	$ 8,600,000
Collaborative arrangement, advanced development fee payments committed	900,000
Collaborative arrangement reimbursable costs	1,200,000
Collaborative arrangement, development charges committed, upon completion	$ 6,500,000
Indemnification Agreement
Gain Contingencies [Line Items]
Losses accrual for known contingent liability		$ 0

Commitments and Contingencies - Summary of Commitments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Other Commitments [Line Items]
2023	$ 7,992
2024	3,169
2025	8,901
2026	2,154
2027	2,184
2028 and thereafter	34,892
Total	59,292
Fuel Supply Payments
Other Commitments [Line Items]
2023	3,744
2024	2,408
2025	1,702
2026	1,718
2027	1,736
2028 and thereafter	28,263
Total	39,571
Zero6 Commitment
Other Commitments [Line Items]
2023	250
2024	350
2025	6,776
2026	0
2027	0
2028 and thereafter	0
Total	7,376
Praj Commitment
Other Commitments [Line Items]
2023	3,600
2024	0
2025	0
2026	0
2027	0
2028 and thereafter	0
Total	3,600
Renewable Energy Credits
Other Commitments [Line Items]
2023	148
2024	148
2025	148
2026	149
2027	148
2028 and thereafter	1,831
Total	2,572
Electricity Above Use (Est.)
Other Commitments [Line Items]
2023	250
2024	263
2025	275
2026	287
2027	300
2028 and thereafter	4,798
Total	$ 6,173

Fair Value Measurements - Financial Instruments, by Fair Value Hierarchy (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability-classified restricted stock awards		$ 702
Total recurring	$ 167,408	340,438
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability-classified restricted stock awards		702
Total recurring	167,408	340,438
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability-classified restricted stock awards		0
Total recurring	0	0
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability-classified restricted stock awards		0
Total recurring	0	0
U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	56,074	225,792
U.S. Treasury notes \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	56,074	225,792
U.S. Treasury notes \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
U.S. Treasury notes \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
U.S. Government-sponsored enterprise securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	111,334	113,944
U.S. Government-sponsored enterprise securities \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	111,334	113,944
U.S. Government-sponsored enterprise securities \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
U.S. Government-sponsored enterprise securities \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 0	$ 0

Fair Value Measurements - Narrative (Details) - 2021 Bonds	Apr. 15, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, term	3 years
Percentage of principal payment on maturity date	100.00%

Fair Value Measurements - Carrying Values and Estimated Fair Values of Debt Instruments (Details) - 2021 Bonds $ in Thousands	Dec. 31, 2022 USD ($)
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	$ 67,223
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	$ 65,438

Shareholders' Equity - Narrative (Details) $ / shares in Units, $ in Thousands				12 Months Ended
	Jun. 08, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares	Jan. 19, 2021 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares	Feb. 17, 2022 shares
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares) \| shares				33,419,267,000
Proceeds from exercise of warrants				$ 3	$ 1,121
Series 2022-A Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares) \| shares	33,333,336			33,333,336,000
Warrants term (in years)	5 years
Warrant exercise price (in dollars per share) \| $ / shares	$ 4.37			$ 4.37
Warrants outstanding	$ 92,900
Series 2022-A Warrants \| Volatility
Class of Warrant or Right [Line Items]
Warrants, measurement input	1.511
Series 2022-A Warrants \| Risk Free Interest Rate
Class of Warrant or Right [Line Items]
Warrants, measurement input	0.0286
Series 2022-A Warrants \| Expected Term
Class of Warrant or Right [Line Items]
Warrants term (in years)	5 years
Warrants, measurement input	5
Series 2020-A Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares) \| shares				85,931,000
Warrant exercise price (in dollars per share) \| $ / shares				$ 0.60
Stock issued for exercise of warrants \| shares					1,866,558
Proceeds from exercise of warrants				$ 3	$ 1,100
Warrants outstanding	$ 8,300
Series 2020-A Warrants \| Volatility
Class of Warrant or Right [Line Items]
Warrants, measurement input	1.30
Series 2020-A Warrants \| Risk Free Interest Rate
Class of Warrant or Right [Line Items]
Warrants, measurement input	0.0030
Series 2020-A Warrants \| Expected Term
Class of Warrant or Right [Line Items]
Warrants term (in years)	5 years
Warrants, measurement input	5
Series K Warrants
Class of Warrant or Right [Line Items]
Warrants unexercised (in shares) \| shares						7,126
At The Market Offering
Class of Warrant or Right [Line Items]
Sale of stock, authorized amount					$ 500,000
Sale of stock, Issuance of common stock (in shares) \| shares		24,420,579
Proceeds from issuance or sale of stock		$ 135,800
Commissions and other offering related expenses		$ 3,600
Sale of stock, remaining capacity to issue shares				$ 360,600
January 2021 Offering
Class of Warrant or Right [Line Items]
Sale of stock, Issuance of common stock (in shares) \| shares			43,750,000
Proceeds from issuance or sale of stock			$ 321,700
Sale of stock, price (in dollars per share) \| $ / shares			$ 8.00
June 2022 Offering
Class of Warrant or Right [Line Items]
Sale of stock, Issuance of common stock (in shares) \| shares	33,333,336
Proceeds from issuance or sale of stock	$ 139,200
Sale of stock, price (in dollars per share) \| $ / shares	$ 4.50

Shareholders' Equity - Shares Issued Upon Exercise of Warrants (Details) - $ / shares	Dec. 31, 2022	Jun. 08, 2022
Class of Warrant or Right [Line Items]
Shares Underlying Warrants Issuance (in shares)	63,333,336,000
Shares Issued upon Warrant Exercises (in shares)	29,914,069,000
Shares Underlying Warrants Outstanding (in shares)	33,419,267,000
Series 2020-A Warrants
Class of Warrant or Right [Line Items]
Warrant exercise price (in dollars per share)	$ 0.60
Shares Underlying Warrants Issuance (in shares)	30,000,000,000
Shares Issued upon Warrant Exercises (in shares)	29,914,069,000
Shares Underlying Warrants Outstanding (in shares)	85,931,000
Series 2022-A Warrants
Class of Warrant or Right [Line Items]
Warrant exercise price (in dollars per share)	$ 4.37	$ 4.37
Shares Underlying Warrants Issuance (in shares)	33,333,336,000
Shares Issued upon Warrant Exercises (in shares)	0
Shares Underlying Warrants Outstanding (in shares)	33,333,336,000	33,333,336

Shareholders' Equity - Exercise of Warrants (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Class of Warrant or Right [Line Items]
Proceeds from exercise of warrants	$ 3	$ 1,121
Series 2020-A Warrants
Class of Warrant or Right [Line Items]
Common stock Issued upon exercise of warrants (in shares)	4,677
Proceeds from exercise of warrants	$ 3	$ 1,100

Segments- Narrative (Details)	12 Months Ended
Segments- Narrative (Details)	Dec. 31, 2022 segment
Segment Reporting [Abstract]
Number of operating segments	3

Segments - Segment Reporting Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenues from external customers	$ 1,175	$ 533
Loss from operations	(102,686)	(60,268)
Acquisitions of licenses, patents, plant, property and equipment	78,864	94,781
Total assets	700,748	645,381
Operating Segments \| Gevo
Segment Reporting Information [Line Items]
Revenues from external customers	81	483
Loss from operations	(58,427)	(42,332)
Acquisitions of licenses, patents, plant, property and equipment	47,647	36,595
Total assets	573,057	484,528
Operating Segments \| Agri-Energy
Segment Reporting Information [Line Items]
Revenues from external customers	240	50
Loss from operations	(40,171)	(16,783)
Acquisitions of licenses, patents, plant, property and equipment	4,091	5,716
Total assets	34,440	64,008
Operating Segments \| Renewable Natural Gas
Segment Reporting Information [Line Items]
Revenues from external customers	854	0
Loss from operations	(4,088)	(1,153)
Acquisitions of licenses, patents, plant, property and equipment	27,126	52,470
Total assets	$ 93,251	$ 96,845

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Subsequent Events (Details) $ in Millions	Feb. 14, 2023 USD ($)
Development Services Agreement With Zero6 \| Subsequent Event
Subsequent Event [Line Items]
Initial payment to procure equipment	$ 10.7