The Biden administration said this week it is making large loans to private factories that turn animal fats and plants into cleaner jet fuel, boosting the stocks of two niche players in the industry.

Shares of clean jet-fuel startup Gevo surged more than 25% after the Department of Energy agreed to loan the company nearly $1.5 billion for a plant in South Dakota. The deal is part of the Loan Progr

Shares of Gevo Inc. are climbing 38.2% in premarket trades Thursday after the renewable chemicals and biofuels company received a commitment for a $1.46 billion loan from the U.S. Department of Energy.

The U.S. Department of Energy said on Wednesday it has approved conditional loan guarantee commitments totaling nearly $3 billion for two sustainable aviation fuel projects. The agency's Loan Programs Office said the funding of up to $1.

Airlines are banking on sustainable aviation fuel to reduce the industry’s planet-warming pollution. But the amount of lower-carbon alternatives available to them right now represents just a few drops in an ocean of petroleum.

The Department of Energy announced its first two loans Wednesday for fossil fuel-free aviation fuel, giving a nearly $3 billion boost to the fledgling industry. DOE floated a $1.46 billion loan to biofuels producer Gevo Net-Zero 1 for a facility located in Lake Preston,