Gevo, Inc. announced that Barclays Capital Inc. has acquired $40 million of newly issued non-recourse tax-exempt private activity bonds, known as the 2025 Bonds. These bonds were issued by the Iowa Finance Authority for Gevo's subsidiary, Gevo NW Iowa RNG, LLC. The purpose of the bonds was to refinance $40 million of the previously issued Iowa Finance Authority Solid Waste Facility Revenue Bonds (Gevo NW Iowa RNG, LLC Renewable Natural Gas Project), Series 2021. The Previous Bonds had an aggregate principal amount of $68.2 million and were secured by a direct pay letter of credit. By partially refinancing the Previous Bonds, Gevo was able to free up $40 million of restricted cash, thereby increasing its balance sheet liquidity by approximately $30 million after covering transaction costs and funding reserves related to the 2025 Bonds.