On Thursday, Shares of Gerdau SA (ADR)(NYSE:GGB), remained flat and closed at $2.90 in the last trading session. The last trading range of the stock ranges between $2.80 and $2.91. Gerdau S.A. produces and commercializes steel products worldwide. The company operates through Brazil Business Operation, North America Business Operation, South America Business Operation, and Special Steel Business Operation segments. It offers semi-finished products, such as billets, blooms, and slabs; common long rolled products, counting rebars, merchant bars, and profiles that are used by the construction and manufacturing industries; and drawn products consisting of barbed and barbless fence wire, galvanized wire, fences, concrete reinforcing wire mesh, nails, and clamps, in addition to iron ore. It also produces special steel products used in automotive components, machinery, road and agricultural parts, mining equipment, tools, rail components, and maritime mooring. In addition, it provides flat products, such as hot- and cold-rolled steel coils, heavy plates, and structural profiles.
Gevo, Inc. (NASDAQ:GEVO), dropped -5.86% and closed at $0.405 in the last trading session. The last trading range of the stock ranges between $0.40 and $0.43. The company’s Market capitalization is $48.88 Billion with the total outstanding Shares of 128.07 million. Gevo, Inc. (GEVO), declared recently that it has accomplished production of the world’s first cellulosic renewable jet fuel that is specified for commercial flights. Gevo successfully adapted its patented technologies to convert cellulosic sugars derived from wood waste into renewable isobutanol, which was then further converted into Gevo’s Alcohol-to-Jet fuel (ATJ) fuel. This ATJ meets the ASTM D7566 specification allowing it to be used for commercial flights. The revisions to the ASTM D7566 specification, which occurred earlier this year, includes ATJ derived from renewable isobutanol, regardless of the carbohydrate feedstock (i.e. cellulosics, corn, sugar cane, molasses, etc.).
Gevo produced over 1,000 gallons of the cellulosic ATJ. Alaska Airlines is expected to fly the first commercial flight using this cellulosic jet fuel in the next few months. Gevo believes that this would be the first ever commercial flight flown with a cellulosic renewable jet fuel. This follows on the back of the two commercial flights that were flown by Alaska Airlines on Gevo’s ATJ in June of this year. The ATJ for the June flights was derived from isobutanol produced at Gevo’s Luverne, MN, production facility using sustainable corn as the sugar feedstock.