The renewable energy space has been in focus among investors for quite some time and one of the major movers in the sector in recent times has been the Gevo (NASDAQ: GEVO) stock.
The stock has been on an impressive run over the past two months and delivered gains of as much as 500% during the period. The rally continued this week as well as the stock soared by as much as 20% on Tuesday following a major announcement from Gevo on Monday.
The company announced a new concept named ‘Net Zero Projects’, which is aimed at coming up with “energy-dense liquid hydrocarbons using renewable energy.”
The company revealed that it is going to deploy renewable energy from multiple sources to convert certain crops into transportable liquid fuel. It is an ambitious project and one that has clearly excited the markets. Investors could do well to keep a close eye on the Gevo stock over the course of the coming days.