Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 26, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Entity Registrant Name | Gevo, Inc. | ||
Entity Central Index Key | 0001392380 | ||
Trading Symbol | gevo | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 198,171,915 | ||
Entity Public Float | $ 11.1 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock, par value $0.01 per share |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Current assets: | |||
Cash and cash equivalents | $ 78,338 | $ 16,302 | |
Accounts receivable | 527 | 1,135 | |
Inventories | 2,256 | 3,201 | |
Prepaid expenses and other current assets | 2,149 | 3,590 | |
Total current assets | 83,270 | 24,228 | |
Property, plant and equipment, net | 66,408 | 66,696 | |
Investment in Juhl | 1,500 | 1,500 | |
Deposits and other assets | 921 | 935 | |
Total assets | [1] | 152,099 | 93,359 |
Current liabilities: | |||
Accounts payable and accrued liabilities | 4,123 | 5,678 | |
Loans payable - other (current) | 809 | 516 | |
Total current liabilities | 4,932 | 20,094 | |
Loans payable - other (long-term) | 457 | 233 | |
Other long-term liabilities | 331 | 528 | |
Total liabilities | 5,720 | 20,855 | |
Commitments and Contingencies (See Note 14) | |||
Stockholders' Equity | |||
Common stock, $0.01 par value per share; 250,000,000 authorized;128,138,311 and 14,083,232 shares issued and outstanding at December 31, 2020 and 2019, respectively. | 1,282 | 141 | |
Additional paid-in capital | 643,269 | 530,349 | |
Accumulated deficit | (498,172) | (457,986) | |
Total stockholders' equity | 146,379 | 72,504 | |
Total liabilities and stockholders' equity | 152,099 | 93,359 | |
Convertible 2020/21 Notes [Member] | |||
Current liabilities: | |||
Notes (current), net | $ 13,900 | ||
[1] | All other significant non-cash items relate to the activities of Gevo. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 250,000,000 | 250,000,000 |
Common stock shares issued (in shares) | 128,138,311 | 14,083,232 |
Common stock, shares outstanding (in shares) | 128,138,311 | 14,083,232 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue and cost of goods sold | ||
Revenue from contract with Customer | $ 5,463 | $ 24,453 |
Grant and other revenue | 226 | 34 |
Total revenues | 5,536 | 24,487 |
Cost of goods sold | 15,003 | 36,733 |
Gross loss | (9,467) | (12,246) |
Operating expenses: | ||
Research and development expense | 4,086 | 4,020 |
Selling, general and administrative expense | 12,528 | 10,085 |
Restructuring expenses | 254 | |
Total operating expenses | 16,868 | 14,105 |
Loss from operations | (26,335) | (26,351) |
Other income (expense): | ||
Interest expense | (2,094) | (2,732) |
(Loss) on modification of 2020 Notes | (732) | |
(Loss) on conversion of 2020/21 Notes to common stock | (1,916) | |
(Loss) gain from change in fair value of 2020/21 Notes and 2020 Notes embedded derivative liability | (8,607) | 394 |
(Loss) gain from change in fair value of derivative warrant liability | (23) | 14 |
Other (expense) income | (479) | 15 |
Total other income (expense) | (13,851) | (2,309) |
Net loss | $ (40,186) | $ (28,660) |
Net loss per share - basic and diluted (in dollars per share) | $ (0.71) | $ (2.35) |
Weighted-average number of common shares outstanding - basic and diluted (in shares) | 56,881,586 | 12,177,906 |
Ethanol Sales and Related Products [Member] | ||
Revenue and cost of goods sold | ||
Revenue from contract with Customer | $ 3,809 | $ 22,115 |
Total revenues | 3,809 | 22,115 |
Hydrocarbon [Member] | ||
Revenue and cost of goods sold | ||
Revenue from contract with Customer | 1,501 | 2,338 |
Total revenues | $ 1,501 | $ 2,338 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 8,640,583 | |||
Balance at Dec. 31, 2018 | $ 86 | $ 518,027 | $ (429,326) | $ 88,787 |
Issuance of common stock, net of issue costs (in shares) | 3,965,688 | |||
Issuance of common stock, net of issue costs | $ 40 | 11,317 | 11,357 | |
Non-cash stock-based compensation | 1,221 | 1,221 | ||
Issuance of common stock under stock plans, net of taxes (in shares) | 1,476,961 | |||
Issuance of common stock under stock plans, net of taxes | $ 15 | (216) | (201) | |
Net loss | (28,660) | (28,660) | ||
Balance (in shares) at Dec. 31, 2019 | 14,083,232 | |||
Balance at Dec. 31, 2019 | $ 141 | 530,349 | (457,986) | 72,504 |
Non-cash stock-based compensation | 2,101 | 2,101 | ||
Issuance of common stock under stock plans, net of taxes (in shares) | 4,142,061 | |||
Issuance of common stock under stock plans, net of taxes | $ 41 | (391) | (350) | |
Net loss | (40,186) | (40,186) | ||
Issuance of common stock and common stock warrants, net of issue costs (in shares) | 46,290,808 | |||
Issuance of common stock and common stock warrants, net of issue costs | $ 463 | 69,614 | $ 70,077 | |
Issuance of common stock upon exercise of warrants (in shares) | 53,678,400 | 53,678,400 | ||
Issuance of common stock upon exercise of warrants | $ 537 | 16,545 | $ 17,082 | |
Issuance of common stock upon conversion of 2020/21 Notes (in shares) | 9,842,080 | |||
Issuance of common stock upon conversion of 2020/21 Notes | $ 99 | 24,958 | 25,057 | |
Issuance of common stock in exchange for services rendered (in shares) | 101,730 | |||
Issuance of common stock in exchange for services rendered | $ 1 | 93 | 94 | |
Balance (in shares) at Dec. 31, 2020 | 128,138,311 | |||
Balance at Dec. 31, 2020 | $ 1,282 | $ 643,269 | $ (498,172) | $ 146,379 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Operating Activities | ||
Net loss | $ (40,186) | $ (28,660) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Loss (gain) from the change in fair value of derivative warrant liability | 23 | (14) |
Loss (gain) from the change in fair value of 2020/21 Notes and 2020 Notes embedded derivative | 8,607 | (394) |
Loss on conversion of 2020/21 Notes to common stock | 1,916 | |
Loss on sale of property, plant and equipment | 625 | 4 |
Stock-based compensation | 2,125 | 1,349 |
Depreciation and amortization | 5,905 | 6,656 |
Non-cash lease expense | 62 | 48 |
Non-cash interest expense | 761 | 1,346 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 608 | (609) |
Inventories | 945 | (35) |
Prepaid expenses and other current assets, deposits and other assets | 782 | (1,824) |
Accounts payable, accrued expenses and long-term liabilities | (1,511) | 1,294 |
Net cash used in operating activities | (19,338) | (20,839) |
Investing Activities | ||
Acquisitions of property, plant and equipment | (5,905) | (5,989) |
Proceeds from sale of property, plant and equipment | 32 | |
Investment in Juhl | (1,500) | |
Net cash used in investing activities | (5,905) | (7,457) |
Financing Activities | ||
Payment on secured debt | (503) | (292) |
Debt and equity offering costs | (6,370) | (232) |
Proceeds from issuance of common stock and common stock warrants | 76,414 | 11,589 |
Proceeds from the exercise of warrants | 17,082 | |
Net settlement of common stock under stock plans | (350) | (201) |
Proceeds from SBA Loan | 1,006 | |
Net cash provided by financing activities | 87,279 | 10,864 |
Net increase (decrease) in cash and cash equivalents | 62,036 | (17,432) |
Cash and cash equivalents beginning of year | 16,302 | 33,734 |
Cash and cash equivalents end of year | 78,338 | 16,302 |
Cash paid for interest | 1,333 | 1,386 |
Non-cash purchase of property, plant and equipment | 197 | 368 |
Issuance of common stock upon exchange of debt | 25,057 | |
Issuance of common stock in exchange for services rendered | 94 | |
Original issue discount paid with 2020/21 Notes | 282 | 280 |
Right-of-use asset purchased with financing lease | 192 | |
Equipment and insurance financed with notes payable | $ 1,041 |
Note 1 - Nature of Business and
Note 1 - Nature of Business and Financial Condition | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. Nature of Business As next generation renewable fuels, Gevo's hydrocarbon transportation fuels have the advantage of being “drop-in” substitutes for conventional fuels that are derived from crude oil, working seamlessly and without modification in existing fossil-fuel based engines, supply chains and storage infrastructure. In addition, with SAF, the carbon footprint of air travel can be reduced, or in the long run, eliminated on a net carbon basis, without change to planes or fuel systems. In addition to the potential of net- zero Gevo uses low-carbon, renewable resource-based raw materials as feedstocks. In the near-term, its feedstocks will primarily consist of non-food corn. As the Company's technology is applied globally, feedstocks can consist of sugar cane, molasses or other cellulosic sugars derived from wood, agricultural residues and waste. Gevo's patented fermentation yeast biocatalyst produces isobutanol, a four Gevo's technology represents a new generation of renewable fuel technology that overcomes the limitations of first Ultimately, the Company believes that the attainment of profitable operations is dependent upon future events, including (i) the successful development of the Net-Zero 1 COVID- 19. 19" 19 2021 third 19 19 first 2020 19 2020 77% 2019. 19 1 The Company has considered multiple scenarios, with both positive and negative inputs, as part of the significant estimates and assumptions that are inherent in its financial statements and are based on trends in customer behavior and the economic environment throughout the year ended December 31, 2020 19 may not December 31, 2020. may may Restructuring Expenses. first 2020, 19 March 2020, 26 four one one The Company incurred $0.1 $0.2 no December 31, 2020, Restructuring expenses $0.02 $0.3 December 31, 2020. The Company intends to continue developing its hydrocarbon business, including the planned expansion of the Luverne Facility, and the Company expects to move forward in securing the project funding needed to expand the Luverne Facility. The expansion is designed to allow the Company to produce large quantities of sustainable aviation fuel and renewable gasoline. The Company also expects to continue engineering efforts for the construction of a commercial renewable hydrocarbon production facility, as well as additional decarbonization projects, at the Luverne Facility. As of December 31, 2020, "Accounts payable and accrued liabilities December 31, December 31, 2019 Additions Payments 2020 Severance (including payroll taxes) $ — $ 96 $ (96 ) $ — Lease agreements — 158 (158 ) — Total $ — $ 254 $ (254 ) $ — Financial Condition December 31, 2020. December 31, 2020 $78.3 January 2021, $321.7 $135.8 January 1, 2021 February 26, 2021 The Company expects to incur future net losses as it continues to fund the development and commercialization of its product candidates. To date, the Company has financed its operations primarily with proceeds from issuance of equity and debt securities, borrowings under debt facilities and product sales. The Company's transition to profitability is dependent upon, among other things, the successful development and commercialization of its product candidates and the achievement of a level of revenues adequate to support the Company's cost structure. The Company may may no one July 2020 July 6, 2020, “July 2020 20,896,666 1 1 $0.60 1 9,103,334 2 2 $0.59 2 July 2020 1 September 30, 2020. Each Series 1 one one 2020 one 2020 2 2020 one 2020 2020 one 2020 2020 five $0.60 2020 $0.01 2020 July 2020 2020 30,000,000 December 31, 2020, 2020 The net proceeds to the Company from the July 2020 $16.1 not July 2020 During the year ended December 31, 2020, 2020 28,042,834 $16.8 January 1, 2021 February 26, 2021, 2020 1,863,058 $1.1 2020 94,108 $0.60 February 26, 2021. August 2020 August 25, 2020, 21,929,313 $1.30 16,532,232 2020 one 2020 $1.29 2020 “August 2020 2020 $0.01 2020 December 31, 2020, 2020 The net proceeds to the Company from the August 2020 $45.8 not August 2020 January 2021 January 19, 2021, 43,750,000 “2021 $8.00 “January 2021 The net proceeds to the Company from the January 2021 $321.7 not January 2021 Conversion of 2020/21 July 10, 2020, 2020/21 $2.0 2020/21 $0.3 4,169,426 2020/21 December 2020, 2020/21 $12.7 2020/21 $1.2 5,672,654 2020/21 Loss on conversion of 2020/21 $1.9 December 31, 2020, 2020/2021 2020/2021 December 31, 2020. At-the-Market Offering Program. February 2018, 2018 $84.9 August 2019, $10.7 December 30, 2020, $150.0 During the year ended December 31, 2020, 3,518,121 $8.4 January 1, 2021 February 26, 2021, 24,420,579 $135.8 As of February 26, 2021, $10.6 During the year ended December 31, 2019, 3,965,688 $11.5 Related Party Transaction. December 31, 2020, one one $0.1 $0.1 December 31, 2020. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Principles of Consolidation Basis of Presentation. December 31, 2020. Use of Estimates Concentrations of Credit Risk Cash and Cash Equivalents three Accounts Receivable not December 31, 2020, one 79% December 31, 2020 2019, no December 31, 2019, three 57%, 13% 15% Inventories December 31, 2020 2019, $0.6 $0 Property, Plant and Equipment Impairment of Property, Plant and Equipment may not not not The Company evaluated its Luverne Facility for impairment as of December 31, 2020 2019. not Investment in Juhl. September 2019, 1.5 $1.00 Leases, Right-to-Use Assets and Related Liabilities. 842, Leases, Debt Issue Costs Warrants. not not 2020 2020 2020 2020 2020 2020 130% 141%, 0.30% 0.31% five Revenue Recognition Ethanol and related products as well as hydrocarbon products are generally shipped free-on-board shipping point. Collectability of revenue is reasonably assured based on historical evidence of collectability between the Company and its customers. In accordance with the Company's agreements for the marketing and sale of ethanol and related products, commissions due to marketers are deducted from the gross sales price at the time payment was remitted. Ethanol and related products sales are recorded net of commissions and shipping and handling costs. Sales and other taxes that the Company collects concurrent with revenue-producing activities are excluded from revenue. Revenue related to government research grants and cooperative agreements is recognized in the period during which the related costs are incurred, provided that the conditions under the awards have been met and only perfunctory obligations are outstanding. Revenues related to lease agreements are recognized on a straight-line basis over the term of the contract. Our Luverne Facility is currently shut down until further notice. Currently, the South Hampton Facility is not 2021 2021. For the year ended December 31, 2020, 52%, 21% 15% December 31, 2019, 71% 17% December 31, 2019. 16 not Cost of Goods Sold Patents Research and Development third Income Taxes not not Stock-Based Compensation four Net Loss Per Share December 31, 2020 2019 The following table sets forth securities that could potentially dilute the calculation of diluted earnings per share: Year Ended December 31, 2020 2019 Warrants to purchase common stock - liability classified 56,735 54,989 Warrants to purchase common stock - equity classified 1,957,166 — Convertible 2020 Notes — 974,139 Outstanding options to purchase common stock 1,552 1,561 Stock appreciation rights 67,739 127,225 Total 2,083,192 1,157,914 Recent Accounting Pronouncements Financial Instruments - Credit Losses. Measurement of Credit Losses on Financial Instruments. June 2016, No. 2016 13, Financial Instruments - Credit Losses Measurement of Credits Losses on Financial Instruments 2016 13” not 2016 13 2016 13 December 15, 2022. one two not |
Note 3 - Revenues From Contract
Note 3 - Revenues From Contracts With Customers and Other Revenues | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 3. The Company's current and historical revenues have consisted of the following: (a) ethanol sales and related products revenue, net; (b) hydrocarbon revenue; and (c) grant and other revenue, which has historically consisted primarily of revenues from governmental and cooperative research grants. Ethanol sales and related products revenues, net. no Hydrocarbon revenue. no Grant and other revenues. one The following table sets forth the components of the Company's revenues between those generated from contracts with customers and those generated from arrangements that do not Year Ended December 31, 2020 Major Goods/Service Line Revenues from Contracts with Customers Other Revenues Total Ethanol sales and related products, net $ 3,809 $ — $ 3,809 Hydrocarbon revenue 1,501 — 1,501 Grant and other revenue 153 73 226 $ 5,463 $ 73 $ 5,536 Timing of Revenue Recognition Goods transferred at a point in time $ 5,310 $ — $ 5,310 Services transferred over time 153 73 226 $ 5,463 $ 73 $ 5,536 Year Ended December 31, 2019 Major Goods/Service Line Revenues from Contracts with Customers Other Revenues Total Ethanol sales and related products, net $ 22,115 $ — $ 22,115 Hydrocarbon revenue 2,338 — 2,338 Grant and other revenue — 34 34 $ 24,453 $ 34 $ 24,487 Timing of Revenue Recognition Goods transferred at a point in time $ 24,453 $ — $ 24,453 Services transferred over time — 34 34 $ 24,453 $ 34 $ 24,487 Goods transferred at a point-in-time. December 31, 2020 2019, no December 31, 2020 2019, no All goods transferred are tested to ensure product sold satisfies contractual product specifications prior to transfer. The customer obtains control of the goods when title and risk of loss for the goods has transferred, which in most cases is “ free-on-board, shipping point one three no Services transferred over time. December 31, 2020 2019, no December 31, 2020 2019, no For the years ended December 2020 2019, Contract Assets and Trade Receivables. December 31, 2020 2019, no not no not December 31, 2020 2019. |
Note 4 - Leases, Right-to-use A
Note 4 - Leases, Right-to-use Assets and Related Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 4. The contracts for the Company are comprised of facility and equipment leases necessary to conduct the Company's day-to-day operations for which the Company maintains control of right-to-use assets and incurs the related liabilities. Right-of-use assets totaling $0.3 $0.2 $0.2 The Company has two first July 2021, second January 2021. The Company recognizes rent expense on its operating leases on a straight-line basis. There is one not December 31, 2020 $2.0 December 31, 2020. The Company began leasing its grain bins in Luverne, Minnesota in October 2020 July 2021. 2020 $0.1 The following table presents the (a) costs by lease category and (b) other quantitative information relating to the Company's leases for the years ended December 31, 2020 2019 Years Ended December 31, 2020 2019 Lease cost Financing lease cost $ 5 $ — Operating lease cost 605 1,554 Short-term lease cost 307 66 Variable lease cost (1) 144 119 Total lease cost $ 1,061 $ 1,739 (1) Represents amounts incurred in excess of minimum payments for common area maintenance and present value discounts. Years Ended December 31, 2020 2019 Other Information Cash paid for the measurement of lease liabilities Operating cash flows from finance lease $ 6 — Operating cash flows from operating leases 605 1,554 Finance cash flows from finance lease 2 — Right-to-use assets obtained in exchange for new operating lease liabilities 192 280 Weighted-average remaining lease term, financing lease (months) 224 — Weighted-average remaining lease term, operating leases (months) 7 21 Weighted-average discount rate - financing lease (2) 13 % — Weighted-average discount rate - operating leases (3) 12 % 12 % ( 2 ( 3 The table below shows the future minimum payments under non-cancelable operating leases at December 31, 2020 ( Year Ending December 31, 2020 Financing Leases Operating Leases 2021 $ 36 $ 180 2022 26 — 2023 26 — 2024 26 — 2025 22 — 2026 and thereafter 301 — Total 437 180 Less: Amounts representing present value discounts (258 ) (5 ) Total lease liabilities $ 179 $ 175 |
Note 5 - Inventories
Note 5 - Inventories | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5 . Inventories The following table sets forth the components of the Company's inventory balances (in thousands): December 31, 2020 2019 Raw materials Corn $ — $ 267 Enzymes and other inputs 133 184 Nutrients 1 — Finished goods SAF, Isooctane and Isooctene 756 571 Isobutanol — 135 Ethanol — 93 Distillers grains — 54 Work in process Agri-Energy — 254 Gevo 5 122 Spare parts 1,361 1,521 Total inventories $ 2,256 $ 3,201 Work in process inventory includes unfinished SAF, isooctane and isooctene inventory. |
Note 6 - Property, Plant and Eq
Note 6 - Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6 . Property, Plant and Equipment The following table sets forth the Company's property, plant and equipment by classification (in thousands): Useful Life December 31, (in years) 2020 2019 Luverne retrofit asset 20 $ 70,820 $ 70,820 Plant machinery and equipment 10 17,374 17,413 Site improvements 10 7,157 7,054 Lab equipment, furniture and fixtures and vehicles 5 6,396 6,393 Demonstration plant 2 3,597 3,597 Buildings 10 2,543 2,543 Leasehold improvements, pilot plant, land and support equipment 2 to 5 2,523 2,523 Computer, office equipment and software 3 to 6 1,983 2,034 Construction in progress — 13,132 7,710 Total Property, plant and equipment 125,525 120,087 Less accumulated depreciation and amortization (59,117 ) (53,391 ) Property, plant and equipment, net $ 66,408 $ 66,696 The Company recorded depreciation and amortization expense related to property, plant and equipment as follows (in thousands): Year Ended December 31, 2020 2019 Cost of goods sold $ 5,669 $ 6,282 Operating expenses 212 210 Total depreciation and amortization $ 5,881 $ 6,492 |
Note 7 - Embedded Derivatives
Note 7 - Embedded Derivatives | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Discussion of Hybrid Instruments and Embedded Derivatives [Text Block] | 7. 2020 In June 2017, 12% 2020 “2020 12% 2017 “2017 2020 2020 “2020 2020 three nine 150% ten 2020 Embedded derivatives are separated from the host contract and the 2020 not 2020 2020 one The Company used a binomial lattice model in order to estimate the fair value of the embedded derivative in the 2020 two 2020 2020 2020 150% ten Using this lattice model, the Company valued the embedded derivative using a “with-and-without method”, where the value of the 2020 2020 2020 2020 2020 2020 2020/21 In January 2020, 12% 2020/2021 “2020/21 12% March 2020 ( “2020 2020/21 2020/21 2020/21 2020/21 The Company used a binomial lattice model in order to estimate the fair value of the embedded derivative in the 2020/21 There is no 2020/21 December 31, 2020. The following table sets forth the inputs to the lattice model that were used to value the embedded derivatives: January 10, December 31, 2020 2019 Stock price $ 2.27 $ 2.31 Conversion Rate $ 409.50 $ 67.95 Conversion Price $ 2.44 $ 14.72 Maturity date December 31, 2020 March 15, 2020 Risk-free interest rate 1.52 % 1.52 % Estimated stock volatility 40 % 60 % Estimated credit spread 36 % 27 % Changes in certain inputs into the lattice model can have a significant impact on changes in the estimated fair value of the embedded featured within the 2020 2020/21 1 2 3 As of December 31, 2020 no December 31, 2019, nil. $8.6 $0.4 December 31, 2020 2019, Derivative Warrant Liability The following warrants were sold by the Company during the year ended December 31, 2020: ● In July 2020, 2020 30,000,000 2020 9,103,334 ● In August 2020, 2020 16,532,232 The following table sets forth information pertaining to shares issued upon the exercise of such warrants as of December 31, 2020: Issuance Date Expiration Date Exercise Price as of December 31, 2020 Shares Underlying Warrants on Issuance Date Shares Issued Upon Warrant Exercises as of December 31, 2020 Shares Underlying Warrants as of December 31, 2020 Series F Warrants 04/01/2016 04/01/2021 $ 40.00 25,733 11,692 14,041 Series I Warrants 09/13/2016 09/13/2021 $ 220.00 35,368 — 35,368 Series K Warrants 02/17/2017 02/17/2022 $ 2.00 315,986 308,660 7,326 Series 2020-A Warrants (1) 07/06/2020 07/06/2025 $ 0.60 30,000,000 28,042,834 1,957,166 Series 2020-B Warrants (1) 07/06/2020 07/06/2025 $ 0.01 9,103,334 9,103,334 — Series 2020-C Warrants (1) 08/25/2020 08/25/2025 $ 0.01 16,532,232 16,532,232 — 56,012,653 53,998,752 2,013,901 ( 1 2020 2020 2020 The agreements governing the above warrants include the following terms: ● certain warrants have exercise prices which are subject to adjustment for certain events, including the issuance of stock dividends on the Company's common stock and, in certain instances, the issuance of the Company's common stock or instruments convertible into the Company's common stock at a price per share less than the exercise price of the respective warrants; ● warrant holders may not may ● the exercise price and the number and type of securities purchasable upon exercise of the warrants are subject to adjustment upon certain corporate events, including certain combinations, consolidations, liquidations, mergers, recapitalizations, reclassifications, reorganizations, stock dividends and stock splits, a sale of all or substantially all of the Company's assets and certain other events; and ● in the event of an “extraordinary transaction” or a “fundamental transaction” (as such terms are defined in the respective warrant agreements), generally including any merger with or into another entity, sale of all or substantially all of the Company's assets, tender offer or exchange offer, or reclassification of its common stock, in which the successor entity (as defined in the respective warrant agreements) that assumes the successor entity is not 30 may Derivative Instruments Warrants. December 31, 2020 2,013,901 July 6, 2025. $0.60 $220.00 December 31, 2020. 2013 2019 Accounts Payable and Accrued Liabilities" December 31, 2020 2019 The Series 2020 2020 2020 2020 not not 2020 2020 2020 2020 2020 2020 $8.3 $2.9 $21.4 130% 141%, 0.30% 0.31% five During the year ended December 31, 2020, Common Stock Issued Proceeds Series 2020-A Warrants 28,042,834 $ 16,826 Series 2020-B Warrants 9,103,334 91 Series 2020-C Warrants 16,532,232 165 53,678,400 $ 17,082 During the period January 1, 2021 February 26, 2021, 2020 1,863,058 $1.1 2020 94,108 $0.60 February 26, 2021. |
Note 8 - Accounts Payable and A
Note 8 - Accounts Payable and Accrued Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 8. The following table sets forth the components of the Company's accounts payable and accrued liabilities in the Consolidated Balance Sheets (in thousands): December 31, 2020 2019 Accrued employee compensation $ 1,960 $ 1,946 Accounts payable - trade 897 1,474 Accrued utilities and supplies 5 645 Other accrued liabilities 1,261 1,613 Total accounts payable and accrued liabilities $ 4,123 $ 5,678 |
Note 9 - Debt
Note 9 - Debt | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 9. 2020 The following table sets forth information pertaining to the 2020/21 Principal Amount of 2020 Notes Principal Amount of 2020/21 Notes Debt Discount Debt Issue Costs Total Notes 2020 Notes Embedded Derivative Total 2020 Notes and 2020/21 Notes Embedded Derivative Balance, December 31, 2018 $ 13,775 $ — $ (979 ) $ (242 ) $ 12,554 $ 394 $ 12,948 Amortization of debt discount — — 856 — 856 — 856 Amortization of debt issue costs — — — 212 212 — 212 Paid-in-kind interest 278 — — — 278 — 278 Change in fair value of 2020 Notes embedded derivative liability — — — — — (394 ) (394 ) Balance, December 31, 2019 14,053 — (123 ) (30 ) 13,900 — 13,900 Amortization of debt discount — — 405 — 405 — 405 Amortization of debt issue costs — — — 30 30 — 30 Paid-in-kind interest 47 269 — — 316 — 316 Exchange of 2020 Notes for 2020/21 Notes (14,100 ) 14,100 — — — — — Conversion of 2020/21 Notes into common Stock — (14,651 ) — — (14,651 ) — (14,651 ) Original issue discount paid with 2020/21 Notes — 282 (282 ) — — — — Fair value of 2020/21 embedded derivative liability upon issuance — — — — — 2,848 2,848 Increase in fair value of 2020/21 Notes embedded derivative liability prior to conversion of 2020/21 Notes — — — — — 5,759 5,759 Decrease in fair value of 2020/21 Notes embedded derivative liability upon conversion to common stock — — — — — (8,607 ) (8,607 ) Balance, December 31,2020 $ — $ — $ — $ — $ — $ — $ — On April 19, 2017, “2017 “2017 12% 2017 "2017 June 6, 2014, “2017 2017 2017 2017 June 15, 2017), 2017 2020 2017 “2017 June 20, 2017, 2017 2017 2017 The 2020 March 15, 2020 first 2020 12% 2% March 31, June 30, September 30 December 31 2020 2020 Under certain circumstances, the Company had the option to pay a portion of the interest due on the 2020 2020 2020 Additional shares of the Company's common stock could also have become issuable pursuant to the 2020 2020 The 2020 2020 $14.72 0.0679 $1 2020 2020/21 On January 10, 2020, “2020/21 2017 2017 2020/21 2017 2020 $14.1 $14.4 12% 2020/21 "2020/21 “2020/21 January 10, 2020, 2020/21 2017 2020 “2020/21 “2020/21 2020/21 The 2020/21 December 31, 2020. 2020/21 12% 4% March 31, June 30, September 30 December 31 2020/21 2020/21 The 2020/21 2017 2020/21 $2.442 “2020/21 0.4095 $1 2020/21 2017 may 2020/21 2020/21 2020/21 2020/21 10% three Each 2017 not 2020/21 2017 4.99% “4.99% 2017 may, 61 9.99% “9.99% 2020/21 2017 4.99% 9.99% 2020/21 2017 nine six The 2020/21 not 2020/21 2020/21 The 2020/21 2020/21 Under certain circumstances, the Company may one 3 2020/21 Conversion of 2020/21 On July 10, 2020, 2020/21 $2.0 2020/21 $0.3 4,169,426 December 2020, 2020/21 $12.7 2020/21 $1.2 5,672,654 2020/21 December 31, 2020, 2020/2021 2020/2021 December 31, 2020. December 31, 2020, $1.9 2020/21 Loans Payable - Other During the first 2020, fourth 2019, 4% 21%, $0.1 August 2020 February 2025. In April 2020, $1.0 April 2022 1% August 2021 August 5, 2021, $0.1 24 The balance of these loans as of December 31, 2020 2019 Years Ended December 31, 2020 2019 SBA loans $ 1,006 $ — Equipment 260 321 Insurance — 428 1,266 749 Less current portion (809 ) (516 ) Long-term portion $ 457 $ 233 Future payments for Loans Payable - Other are as follows (in thousands): Year ending December 31, Amount 2021 $ 809 2022 356 2023 65 2024 35 2025 1 $ 1,266 |
Note 10 - Equity Incentive Plan
Note 10 - Equity Incentive Plans | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Stock Incentive Plans Disclosure [Text Block] | 10 . Equity Incentive Plans 2010 February 2011, 2010 “2010 2010 June 3, 2020, 2010 3,713,413 6,980,074 December 31, 2020, 1,230,359 2010 Restricted common stock activity during the year ended December 31, 2020 Period Total Number of Restricted Shares Issued Vesting Periods Years January 1, 2020 to March 31, 2020 (1) (3) 106,540 2.0 to 3.0 April 1, 2020 to June 30, 2020 (1) (2) (4) 190,419 0.0 to 0.1 July 1, 2020 to September 30, 2020 (1) (2) (4) (5) 3,960,036 0.1 to 2.0 October 1, 2020 to December 31, 2020 (1) (12,546 ) N/A Total 4,244,449 ( 1 ( 2 20% ( 3 February 27, 2020. ( 4 ( 5 July 2020 Employee Stock Purchase Plan February 2011, January 1 June 30 July 1 December 31 190 190 December 31, 2020 85% first no 2020. |
Note 11 - Stock-based Compensat
Note 11 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 11 . Stock-Based Compensation Stock-Based Compensation Expense The following table sets forth the Company's stock-based compensation expense (in thousands): Year Ended December 31, 2020 2019 Restricted stock awards Research and development $ 481 $ 228 Selling, general and administrative 1,620 993 Stock appreciation rights Research and Development 137 66 Selling, general and administrative (113 ) 62 Total stock-based compensation $ 2,125 $ 1,349 There were no December 31, 2020 2019. Due to the Company's limited history of grant activity, the expected life of options granted was estimated using the “simplified method” in accordance with SEC Staff Accounting Bulletin 110, An annual forfeiture rate is estimated at the time of grant for all share-based payment awards, and revised, if necessary, in subsequent periods if the actual forfeiture rate differs from the Company's estimate. Forfeitures have been estimated by the Company based upon historical and expected forfeiture experience. Estimated forfeiture rates used for the periods presented were from 0% 5%. Stock Option Award Activity December 31, 2020 December 31, 2020 Weighted- Average Weighted- Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Options Price (1) (years) Value Options outstanding at December 31, 2019 1,561 $ 928.79 6.56 $ — Granted — $ — Canceled or forfeited (9 ) $ 72,891.04 Exercised — $ — Options outstanding at December 31, 2020 1,552 $ 556.13 5.58 $ — Options exercisable at December 31, 2020 1,552 $ 556.13 5.58 $ — Options vested and expected to vest at December 31, 2020 1,552 $ 556.13 5.58 $ — ( 1 $20 $99,300 December 31, 2020. The aggregate intrinsic values in the table above represent the total pretax intrinsic values (the difference between the closing price of Gevo's common stock on the last trading day of the 2019 December 31, 2020. As of December 31, 2020, no There is a maximum contractual term of ten No Restricted Stock may two three Non-vested restricted stock awards at December 31, 2020 December 31, 2020 Weighted- Average Number of Grant-Date Shares Fair Value Non-vested at December 31, 2019 1,308,613 $ 1.91 Granted 4,454,046 $ 0.63 Vested (1,051,417 ) $ 1.47 Canceled or forfeited (9,686 ) $ 1.90 Non-vested at December 31, 2020 4,701,556 $ 0.79 The total fair value of restricted stock that vested during the years ended December 31, 2020 2019 $1.5 $0.7 December 31, 2020, $2.5 1.4 Stock Appreciation Rights. 67,739 $0.6 December 31, 2018. 2010 |
Note 12 - Income Taxes
Note 12 - Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 12 . Income Taxes There is no December 31, 2020, $66.2 $21.5 may 382 July 9, 2020 $66.2 $0.1 $0.1 not $0.1 not 382 July 9, 2020. $3.5 December 31, 2020. 2040 may 383 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, 2020 2019 Deferred tax assets, net: Net operating loss carryforwards $ 15,406 $ 109,813 Research and other credits — 3,482 Operating lease assets (82 ) (170 ) Operating lease liabilities 88 199 Restricted stock 992 452 Business interest expense 1,441 980 Depreciation 3,427 — Other temporary differences 321 3,419 Deferred tax assets 21,593 118,175 Valuation allowance (21,593 ) (118,175 ) Net deferred tax assets $ — $ — The Company recognizes uncertain tax positions net, against any operating losses or applicable research credits as they arise. Currently, there are no December 31, 2020 2019, December 31, 2020 2019, not not The following table sets forth reconciling items from income tax computed at the statutory federal rate: Year Ended December 31, 2020 2019 Federal income tax at statutory rate 21.0 % 21.0 % State income taxes, net of federal benefits 4.1 % 7.0 % Impact of change in statutory tax rates (0.8 %) (0.2 %) Impact of NOL write-offs (250.4 %) — Impact of R&D credit write-off (8.7 %) — Permanent deductions (5.3 %) (0.1 %) Valuation allowance 240.1 % (27.7 %) 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, 2020. December 31, 2015 2020. The Company may no |
Note 13 - Employee Benefit Plan
Note 13 - Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Employee Benefit Plan [Text Block] | 13 . Employee Benefit Plan The Company's employees participate in the Gevo, Inc. 401 “401 401 three 401 may not may 401 not December 31, 2020 2019. |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 14 . Commitments and Contingencies Legal Matters. may not Indemnifications may December 31, 2020 2019, not In addition, the Company, as permitted under Delaware law and in accordance with its amended and restated certificate of incorporation and amended and restated bylaws, in each case, as amended to date, indemnifies its officers and directors for certain events or occurrences, subject to certain limits, while the officer or director is or was serving at the Company's request in such capacity. 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 may No Environmental Liabilities No December 31, 2020. |
Note 15 - Fair Value Measuremen
Note 15 - Fair Value Measurements and Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 1 5 . Fair Value Measurements and Fair Value of Financial Instruments 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 Level 1 Level 2 1, 2 Level 3 no These tables present the carrying value and fair value, by fair value hierarchy, of the Company's financial instruments at December 31, 2020 2019, $1.3 December 31, 2020. Fair Value Measurements at December 31, 2020 Fair Value at December 31, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring Derivative Warrant Liability $ 31 $ — $ — $ 31 Nonrecurring Finished goods inventory $ 631 $ — $ 631 $ — Fair Value Measurements at December 31, 2019 Fair Value at December 31, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring Derivative Warrant Liability $ 8 $ — $ — $ 8 Nonrecurring Corn and finished goods inventory $ 940 $ 267 $ 673 $ — Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (in thousands) Derivative Warrant Liability 2020 Embedded Derivative Liability Balance, December 31, 2019 $ 8 $ — Issue of 2020/21 Notes embedded derivative liability — 2,848 Change in value from increase in fair value prior to conversion of 2020/21 Notes 5,759 Total (gains) or losses for the period included in earnings 23 (8,607 ) Balance, December 31, 2020 $ 31 $ — There were no 1 2 no 3 no 3 December 31, 2020. The Company believes that the fair value of its accounts receivable and accounts payable approximate its book value due to their short-term nature. Fair Value Methodology Inventories. 1 2 2020/21 Notes Embedded Derivative 2020/21 December 31, 2020. $0 December 31, 2020. Change in fair value of 2020/21 7, Embedded Derivatives Derivative Warrant Liability 3 3 December 31, 2020 2019. 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. |
Note 16 - Segments
Note 16 - Segments | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 16 . Segments The Company has determined that it has two Gevo Segment Gevo Development/Agri-Energy The Company's chief operating decision maker is provided with and reviews the financial results of each of the Company's consolidated legal entities, Gevo, Inc., Gevo Development, LLC and Agri-Energy, LLC. The Company organizes its business segments based on the nature of the products and services offered through each of its consolidated legal entities. All revenue is earned and all assets are held in the U.S. Year Ended December 31, 2020 2019 (In thousands) Revenues from external customers Gevo $ 1,650 $ 2,338 Gevo Development / Agri-Energy 3,886 22,149 Consolidated $ 5,536 $ 24,487 Loss from operations Gevo $ (14,914 ) $ (12,360 ) Gevo Development / Agri-Energy (11,421 ) (13,991 ) Consolidated $ (26,335 ) $ (26,351 ) Interest expense Gevo $ 2,075 $ 2,732 Gevo Development / Agri-Energy 19 — Consolidated $ 2,094 $ 2,732 Depreciation and amortization expense Gevo $ 214 $ 210 Gevo Development / Agri-Energy 5,691 6,446 Consolidated $ 5,905 $ 6,656 Acquisitions of plant, property and equipment Gevo $ 4,501 $ 130 Gevo Development / Agri-Energy 1,716 6,367 Consolidated $ 6,217 $ 6,497 Revenue by geographic area United States $ 4,082 $ 22,149 Other 1,454 2,338 Consolidated $ 5,536 $ 24,487 December 31, 2020 2019 Total assets Gevo $ 152,177 $ 91,861 Gevo Development / Agri-Energy 131,893 143,349 Intercompany eliminations (1) (131,971 ) (141,851 ) Consolidated (2) $ 152,099 $ 93,359 ( 1 Includes intercompany sales of $0.1 $0.4 December 31, 2020 2019, ( 2 All other significant non-cash items relate to the activities of Gevo. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Nature of Business [Policy Text Block] | Nature of Business As next generation renewable fuels, Gevo's hydrocarbon transportation fuels have the advantage of being “drop-in” substitutes for conventional fuels that are derived from crude oil, working seamlessly and without modification in existing fossil-fuel based engines, supply chains and storage infrastructure. In addition, with SAF, the carbon footprint of air travel can be reduced, or in the long run, eliminated on a net carbon basis, without change to planes or fuel systems. In addition to the potential of net- zero Gevo uses low-carbon, renewable resource-based raw materials as feedstocks. In the near-term, its feedstocks will primarily consist of non-food corn. As the Company's technology is applied globally, feedstocks can consist of sugar cane, molasses or other cellulosic sugars derived from wood, agricultural residues and waste. Gevo's patented fermentation yeast biocatalyst produces isobutanol, a four Gevo's technology represents a new generation of renewable fuel technology that overcomes the limitations of first Ultimately, the Company believes that the attainment of profitable operations is dependent upon future events, including (i) the successful development of the Net-Zero 1 COVID- 19. 19" 19 2021 third 19 19 first 2020 19 2020 77% 2019. 19 1 The Company has considered multiple scenarios, with both positive and negative inputs, as part of the significant estimates and assumptions that are inherent in its financial statements and are based on trends in customer behavior and the economic environment throughout the year ended December 31, 2020 19 may not December 31, 2020. may may |
Costs Associated with Exit or Disposal Activity or Restructuring [Policy Text Block] | Restructuring Expenses. first 2020, 19 March 2020, 26 four one one The Company incurred $0.1 $0.2 no December 31, 2020, Restructuring expenses $0.02 $0.3 December 31, 2020. The Company intends to continue developing its hydrocarbon business, including the planned expansion of the Luverne Facility, and the Company expects to move forward in securing the project funding needed to expand the Luverne Facility. The expansion is designed to allow the Company to produce large quantities of sustainable aviation fuel and renewable gasoline. The Company also expects to continue engineering efforts for the construction of a commercial renewable hydrocarbon production facility, as well as additional decarbonization projects, at the Luverne Facility. As of December 31, 2020, "Accounts payable and accrued liabilities December 31, December 31, 2019 Additions Payments 2020 Severance (including payroll taxes) $ — $ 96 $ (96 ) $ — Lease agreements — 158 (158 ) — Total $ — $ 254 $ (254 ) $ — |
Financial Condition [Policy Text Block] | Financial Condition December 31, 2020. December 31, 2020 $78.3 January 2021, $321.7 $135.8 January 1, 2021 February 26, 2021 The Company expects to incur future net losses as it continues to fund the development and commercialization of its product candidates. To date, the Company has financed its operations primarily with proceeds from issuance of equity and debt securities, borrowings under debt facilities and product sales. The Company's transition to profitability is dependent upon, among other things, the successful development and commercialization of its product candidates and the achievement of a level of revenues adequate to support the Company's cost structure. The Company may may no one |
Stockholders' Equity, Policy [Policy Text Block] | July 2020 July 6, 2020, “July 2020 20,896,666 1 1 $0.60 1 9,103,334 2 2 $0.59 2 July 2020 1 September 30, 2020. Each Series 1 one one 2020 one 2020 2 2020 one 2020 2020 one 2020 2020 five $0.60 2020 $0.01 2020 July 2020 2020 30,000,000 December 31, 2020, 2020 The net proceeds to the Company from the July 2020 $16.1 not July 2020 During the year ended December 31, 2020, 2020 28,042,834 $16.8 January 1, 2021 February 26, 2021, 2020 1,863,058 $1.1 2020 94,108 $0.60 February 26, 2021. August 2020 August 25, 2020, 21,929,313 $1.30 16,532,232 2020 one 2020 $1.29 2020 “August 2020 2020 $0.01 2020 December 31, 2020, 2020 The net proceeds to the Company from the August 2020 $45.8 not August 2020 January 2021 January 19, 2021, 43,750,000 “2021 $8.00 “January 2021 The net proceeds to the Company from the January 2021 $321.7 not January 2021 Conversion of 2020/21 July 10, 2020, 2020/21 $2.0 2020/21 $0.3 4,169,426 2020/21 December 2020, 2020/21 $12.7 2020/21 $1.2 5,672,654 2020/21 Loss on conversion of 2020/21 $1.9 December 31, 2020, 2020/2021 2020/2021 December 31, 2020. At-the-Market Offering Program. February 2018, 2018 $84.9 August 2019, $10.7 December 30, 2020, $150.0 During the year ended December 31, 2020, 3,518,121 $8.4 January 1, 2021 February 26, 2021, 24,420,579 $135.8 As of February 26, 2021, $10.6 During the year ended December 31, 2019, 3,965,688 $11.5 |
Related Party Transactions Policy [Policy Text Block] | Related Party Transaction. December 31, 2020, one one $0.1 $0.1 December 31, 2020. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation. December 31, 2020. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents three |
Receivable [Policy Text Block] | Accounts Receivable not December 31, 2020, one 79% December 31, 2020 2019, no December 31, 2019, three 57%, 13% 15% |
Inventory, Policy [Policy Text Block] | Inventories December 31, 2020 2019, $0.6 $0 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment Impairment of Property, Plant and Equipment may not not not The Company evaluated its Luverne Facility for impairment as of December 31, 2020 2019. not |
Investment, Policy [Policy Text Block] | Investment in Juhl. September 2019, 1.5 $1.00 |
Lessee, Leases [Policy Text Block] | Leases, Right-to-Use Assets and Related Liabilities. 842, Leases, |
Debt, Policy [Policy Text Block] | Debt Issue Costs |
Warrants [Policy Text Block] | Warrants. not not 2020 2020 2020 2020 2020 2020 130% 141%, 0.30% 0.31% five |
Revenue [Policy Text Block] | Revenue Recognition Ethanol and related products as well as hydrocarbon products are generally shipped free-on-board shipping point. Collectability of revenue is reasonably assured based on historical evidence of collectability between the Company and its customers. In accordance with the Company's agreements for the marketing and sale of ethanol and related products, commissions due to marketers are deducted from the gross sales price at the time payment was remitted. Ethanol and related products sales are recorded net of commissions and shipping and handling costs. Sales and other taxes that the Company collects concurrent with revenue-producing activities are excluded from revenue. Revenue related to government research grants and cooperative agreements is recognized in the period during which the related costs are incurred, provided that the conditions under the awards have been met and only perfunctory obligations are outstanding. Revenues related to lease agreements are recognized on a straight-line basis over the term of the contract. Our Luverne Facility is currently shut down until further notice. Currently, the South Hampton Facility is not 2021 2021. For the year ended December 31, 2020, 52%, 21% 15% December 31, 2019, 71% 17% December 31, 2019. 16 not |
Cost of Goods and Service [Policy Text Block] | Cost of Goods Sold |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Patents |
Research and Development Expense, Policy [Policy Text Block] | Research and Development third |
Income Tax, Policy [Policy Text Block] | Income Taxes not not |
Share-based Compensation [Policy Text Block] | Stock-Based Compensation four |
Earnings Per Share, Policy [Policy Text Block] | Net Loss Per Share December 31, 2020 2019 The following table sets forth securities that could potentially dilute the calculation of diluted earnings per share: Year Ended December 31, 2020 2019 Warrants to purchase common stock - liability classified 56,735 54,989 Warrants to purchase common stock - equity classified 1,957,166 — Convertible 2020 Notes — 974,139 Outstanding options to purchase common stock 1,552 1,561 Stock appreciation rights 67,739 127,225 Total 2,083,192 1,157,914 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Financial Instruments - Credit Losses. Measurement of Credit Losses on Financial Instruments. June 2016, No. 2016 13, Financial Instruments - Credit Losses Measurement of Credits Losses on Financial Instruments 2016 13” not 2016 13 2016 13 December 15, 2022. one two not |
Note 1 - Nature of Business a_2
Note 1 - Nature of Business and Financial Condition (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | December 31, December 31, 2019 Additions Payments 2020 Severance (including payroll taxes) $ — $ 96 $ (96 ) $ — Lease agreements — 158 (158 ) — Total $ — $ 254 $ (254 ) $ — |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Year Ended December 31, 2020 2019 Warrants to purchase common stock - liability classified 56,735 54,989 Warrants to purchase common stock - equity classified 1,957,166 — Convertible 2020 Notes — 974,139 Outstanding options to purchase common stock 1,552 1,561 Stock appreciation rights 67,739 127,225 Total 2,083,192 1,157,914 |
Note 3 - Revenues From Contra_2
Note 3 - Revenues From Contracts With Customers and Other Revenues (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Year Ended December 31, 2020 Major Goods/Service Line Revenues from Contracts with Customers Other Revenues Total Ethanol sales and related products, net $ 3,809 $ — $ 3,809 Hydrocarbon revenue 1,501 — 1,501 Grant and other revenue 153 73 226 $ 5,463 $ 73 $ 5,536 Timing of Revenue Recognition Goods transferred at a point in time $ 5,310 $ — $ 5,310 Services transferred over time 153 73 226 $ 5,463 $ 73 $ 5,536 Year Ended December 31, 2019 Major Goods/Service Line Revenues from Contracts with Customers Other Revenues Total Ethanol sales and related products, net $ 22,115 $ — $ 22,115 Hydrocarbon revenue 2,338 — 2,338 Grant and other revenue — 34 34 $ 24,453 $ 34 $ 24,487 Timing of Revenue Recognition Goods transferred at a point in time $ 24,453 $ — $ 24,453 Services transferred over time — 34 34 $ 24,453 $ 34 $ 24,487 |
Note 4 - Leases, Right-to-use_2
Note 4 - Leases, Right-to-use Assets and Related Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Years Ended December 31, 2020 2019 Lease cost Financing lease cost $ 5 $ — Operating lease cost 605 1,554 Short-term lease cost 307 66 Variable lease cost (1) 144 119 Total lease cost $ 1,061 $ 1,739 (1) Represents amounts incurred in excess of minimum payments for common area maintenance and present value discounts. Years Ended December 31, 2020 2019 Other Information Cash paid for the measurement of lease liabilities Operating cash flows from finance lease $ 6 — Operating cash flows from operating leases 605 1,554 Finance cash flows from finance lease 2 — Right-to-use assets obtained in exchange for new operating lease liabilities 192 280 Weighted-average remaining lease term, financing lease (months) 224 — Weighted-average remaining lease term, operating leases (months) 7 21 Weighted-average discount rate - financing lease (2) 13 % — Weighted-average discount rate - operating leases (3) 12 % 12 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Ending December 31, 2020 Financing Leases Operating Leases 2021 $ 36 $ 180 2022 26 — 2023 26 — 2024 26 — 2025 22 — 2026 and thereafter 301 — Total 437 180 Less: Amounts representing present value discounts (258 ) (5 ) Total lease liabilities $ 179 $ 175 |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2020 2019 Raw materials Corn $ — $ 267 Enzymes and other inputs 133 184 Nutrients 1 — Finished goods SAF, Isooctane and Isooctene 756 571 Isobutanol — 135 Ethanol — 93 Distillers grains — 54 Work in process Agri-Energy — 254 Gevo 5 122 Spare parts 1,361 1,521 Total inventories $ 2,256 $ 3,201 |
Note 6 - Property, Plant and _2
Note 6 - Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Useful Life December 31, (in years) 2020 2019 Luverne retrofit asset 20 $ 70,820 $ 70,820 Plant machinery and equipment 10 17,374 17,413 Site improvements 10 7,157 7,054 Lab equipment, furniture and fixtures and vehicles 5 6,396 6,393 Demonstration plant 2 3,597 3,597 Buildings 10 2,543 2,543 Leasehold improvements, pilot plant, land and support equipment 2 to 5 2,523 2,523 Computer, office equipment and software 3 to 6 1,983 2,034 Construction in progress — 13,132 7,710 Total Property, plant and equipment 125,525 120,087 Less accumulated depreciation and amortization (59,117 ) (53,391 ) Property, plant and equipment, net $ 66,408 $ 66,696 |
Schedule of Depreciation and Amortization Expense [Table Text Block] | Year Ended December 31, 2020 2019 Cost of goods sold $ 5,669 $ 6,282 Operating expenses 212 210 Total depreciation and amortization $ 5,881 $ 6,492 |
Note 7 - Embedded Derivatives (
Note 7 - Embedded Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Defined Benefit Plan, Assumptions [Table Text Block] | January 10, December 31, 2020 2019 Stock price $ 2.27 $ 2.31 Conversion Rate $ 409.50 $ 67.95 Conversion Price $ 2.44 $ 14.72 Maturity date December 31, 2020 March 15, 2020 Risk-free interest rate 1.52 % 1.52 % Estimated stock volatility 40 % 60 % Estimated credit spread 36 % 27 % |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Issuance Date Expiration Date Exercise Price as of December 31, 2020 Shares Underlying Warrants on Issuance Date Shares Issued Upon Warrant Exercises as of December 31, 2020 Shares Underlying Warrants as of December 31, 2020 Series F Warrants 04/01/2016 04/01/2021 $ 40.00 25,733 11,692 14,041 Series I Warrants 09/13/2016 09/13/2021 $ 220.00 35,368 — 35,368 Series K Warrants 02/17/2017 02/17/2022 $ 2.00 315,986 308,660 7,326 Series 2020-A Warrants (1) 07/06/2020 07/06/2025 $ 0.60 30,000,000 28,042,834 1,957,166 Series 2020-B Warrants (1) 07/06/2020 07/06/2025 $ 0.01 9,103,334 9,103,334 — Series 2020-C Warrants (1) 08/25/2020 08/25/2025 $ 0.01 16,532,232 16,532,232 — 56,012,653 53,998,752 2,013,901 |
Exercise of Warrants [Table Text Block] | Common Stock Issued Proceeds Series 2020-A Warrants 28,042,834 $ 16,826 Series 2020-B Warrants 9,103,334 91 Series 2020-C Warrants 16,532,232 165 53,678,400 $ 17,082 |
Note 8 - Accounts Payable and_2
Note 8 - Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | December 31, 2020 2019 Accrued employee compensation $ 1,960 $ 1,946 Accounts payable - trade 897 1,474 Accrued utilities and supplies 5 645 Other accrued liabilities 1,261 1,613 Total accounts payable and accrued liabilities $ 4,123 $ 5,678 |
Note 9 - Debt (Tables)
Note 9 - Debt (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Principal Amount of 2020 Notes Principal Amount of 2020/21 Notes Debt Discount Debt Issue Costs Total Notes 2020 Notes Embedded Derivative Total 2020 Notes and 2020/21 Notes Embedded Derivative Balance, December 31, 2018 $ 13,775 $ — $ (979 ) $ (242 ) $ 12,554 $ 394 $ 12,948 Amortization of debt discount — — 856 — 856 — 856 Amortization of debt issue costs — — — 212 212 — 212 Paid-in-kind interest 278 — — — 278 — 278 Change in fair value of 2020 Notes embedded derivative liability — — — — — (394 ) (394 ) Balance, December 31, 2019 14,053 — (123 ) (30 ) 13,900 — 13,900 Amortization of debt discount — — 405 — 405 — 405 Amortization of debt issue costs — — — 30 30 — 30 Paid-in-kind interest 47 269 — — 316 — 316 Exchange of 2020 Notes for 2020/21 Notes (14,100 ) 14,100 — — — — — Conversion of 2020/21 Notes into common Stock — (14,651 ) — — (14,651 ) — (14,651 ) Original issue discount paid with 2020/21 Notes — 282 (282 ) — — — — Fair value of 2020/21 embedded derivative liability upon issuance — — — — — 2,848 2,848 Increase in fair value of 2020/21 Notes embedded derivative liability prior to conversion of 2020/21 Notes — — — — — 5,759 5,759 Decrease in fair value of 2020/21 Notes embedded derivative liability upon conversion to common stock — — — — — (8,607 ) (8,607 ) Balance, December 31,2020 $ — $ — $ — $ — $ — $ — $ — |
Schedule of Long-term Debt Instruments [Table Text Block] | Years Ended December 31, 2020 2019 SBA loans $ 1,006 $ — Equipment 260 321 Insurance — 428 1,266 749 Less current portion (809 ) (516 ) Long-term portion $ 457 $ 233 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Year ending December 31, Amount 2021 $ 809 2022 356 2023 65 2024 35 2025 1 $ 1,266 |
Note 10 - Equity Incentive Pl_2
Note 10 - Equity Incentive Plans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Stock Incentive Plan 2010 [Member] | |
Notes Tables | |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Period Total Number of Restricted Shares Issued Vesting Periods Years January 1, 2020 to March 31, 2020 (1) (3) 106,540 2.0 to 3.0 April 1, 2020 to June 30, 2020 (1) (2) (4) 190,419 0.0 to 0.1 July 1, 2020 to September 30, 2020 (1) (2) (4) (5) 3,960,036 0.1 to 2.0 October 1, 2020 to December 31, 2020 (1) (12,546 ) N/A Total 4,244,449 |
Note 11 - Stock-based Compens_2
Note 11 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Cost by Plan [Table Text Block] | Year Ended December 31, 2020 2019 Restricted stock awards Research and development $ 481 $ 228 Selling, general and administrative 1,620 993 Stock appreciation rights Research and Development 137 66 Selling, general and administrative (113 ) 62 Total stock-based compensation $ 2,125 $ 1,349 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted- Average Weighted- Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Options Price (1) (years) Value Options outstanding at December 31, 2019 1,561 $ 928.79 6.56 $ — Granted — $ — Canceled or forfeited (9 ) $ 72,891.04 Exercised — $ — Options outstanding at December 31, 2020 1,552 $ 556.13 5.58 $ — Options exercisable at December 31, 2020 1,552 $ 556.13 5.58 $ — Options vested and expected to vest at December 31, 2020 1,552 $ 556.13 5.58 $ — |
Schedule of Nonvested Share Activity [Table Text Block] | Weighted- Average Number of Grant-Date Shares Fair Value Non-vested at December 31, 2019 1,308,613 $ 1.91 Granted 4,454,046 $ 0.63 Vested (1,051,417 ) $ 1.47 Canceled or forfeited (9,686 ) $ 1.90 Non-vested at December 31, 2020 4,701,556 $ 0.79 |
Note 12 - Income Taxes (Tables)
Note 12 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2020 2019 Deferred tax assets, net: Net operating loss carryforwards $ 15,406 $ 109,813 Research and other credits — 3,482 Operating lease assets (82 ) (170 ) Operating lease liabilities 88 199 Restricted stock 992 452 Business interest expense 1,441 980 Depreciation 3,427 — Other temporary differences 321 3,419 Deferred tax assets 21,593 118,175 Valuation allowance (21,593 ) (118,175 ) Net deferred tax assets $ — $ — |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2020 2019 Federal income tax at statutory rate 21.0 % 21.0 % State income taxes, net of federal benefits 4.1 % 7.0 % Impact of change in statutory tax rates (0.8 %) (0.2 %) Impact of NOL write-offs (250.4 %) — Impact of R&D credit write-off (8.7 %) — Permanent deductions (5.3 %) (0.1 %) Valuation allowance 240.1 % (27.7 %) Effective tax rate — % — % |
Note 15 - Fair Value Measurem_2
Note 15 - Fair Value Measurements and Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Fair Value Measurements at December 31, 2020 Fair Value at December 31, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring Derivative Warrant Liability $ 31 $ — $ — $ 31 Nonrecurring Finished goods inventory $ 631 $ — $ 631 $ — Fair Value Measurements at December 31, 2019 Fair Value at December 31, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring Derivative Warrant Liability $ 8 $ — $ — $ 8 Nonrecurring Corn and finished goods inventory $ 940 $ 267 $ 673 $ — |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (in thousands) Derivative Warrant Liability 2020 Embedded Derivative Liability Balance, December 31, 2019 $ 8 $ — Issue of 2020/21 Notes embedded derivative liability — 2,848 Change in value from increase in fair value prior to conversion of 2020/21 Notes 5,759 Total (gains) or losses for the period included in earnings 23 (8,607 ) Balance, December 31, 2020 $ 31 $ — |
Note 16 - Segments (Tables)
Note 16 - Segments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31, 2020 2019 (In thousands) Revenues from external customers Gevo $ 1,650 $ 2,338 Gevo Development / Agri-Energy 3,886 22,149 Consolidated $ 5,536 $ 24,487 Loss from operations Gevo $ (14,914 ) $ (12,360 ) Gevo Development / Agri-Energy (11,421 ) (13,991 ) Consolidated $ (26,335 ) $ (26,351 ) Interest expense Gevo $ 2,075 $ 2,732 Gevo Development / Agri-Energy 19 — Consolidated $ 2,094 $ 2,732 Depreciation and amortization expense Gevo $ 214 $ 210 Gevo Development / Agri-Energy 5,691 6,446 Consolidated $ 5,905 $ 6,656 Acquisitions of plant, property and equipment Gevo $ 4,501 $ 130 Gevo Development / Agri-Energy 1,716 6,367 Consolidated $ 6,217 $ 6,497 Revenue by geographic area United States $ 4,082 $ 22,149 Other 1,454 2,338 Consolidated $ 5,536 $ 24,487 December 31, 2020 2019 Total assets Gevo $ 152,177 $ 91,861 Gevo Development / Agri-Energy 131,893 143,349 Intercompany eliminations (1) (131,971 ) (141,851 ) Consolidated (2) $ 152,099 $ 93,359 |
Note 1 - Nature of Business a_3
Note 1 - Nature of Business and Financial Condition (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jan. 19, 2021 | Dec. 30, 2020 | Aug. 25, 2020 | Jul. 10, 2020 | Jul. 06, 2020 | Dec. 31, 2020 | Aug. 31, 2019 | Feb. 26, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Jul. 06, 2025 | Aug. 31, 2020 | Jul. 31, 2020 | ||||
Percentage of Revenue Reduction | 77.00% | |||||||||||||||||
Restructuring Charges, Total | $ 254 | |||||||||||||||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 78,338 | 78,338 | 16,302 | |||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 16,100 | |||||||||||||||||
Proceeds from Issuance of Common Stock | $ 76,414 | $ 11,589 | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,013,901 | 2,013,901 | 56,012,653 | |||||||||||||||
Stock Issued During Period, Shares, Upon Exercise of Warrants (in shares) | 53,678,400 | |||||||||||||||||
Proceeds from Warrant Exercises | $ 17,082 | |||||||||||||||||
Gain (Loss) on Conversion of Notes to Common Stock | (1,916) | |||||||||||||||||
Blocksize and Leaf Resources [Member] | ||||||||||||||||||
Payments for Software, Total | 100 | |||||||||||||||||
Due to Related Parties, Total | $ 100 | 100 | ||||||||||||||||
Conversion from Convertible 2020/21 Notes to Common Stock [Member] | ||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 2,000 | $ 12,700 | ||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 4,169,426 | 5,672,654 | ||||||||||||||||
Gain (Loss) on Conversion of Notes to Common Stock | $ (1,900) | |||||||||||||||||
Series 2020 B Warrants [Member] | ||||||||||||||||||
Units Issued Warrant Per Unit (in shares) | 1 | |||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | [1] | $ 0.01 | $ 0.01 | |||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 30,000,000 | [1] | [1] | 9,103,334 | [1] | 9,103,334 | ||||||||||||
Stock Issued During Period, Shares, Upon Exercise of Warrants (in shares) | 9,103,334 | |||||||||||||||||
Proceeds from Warrant Exercises | $ 91 | |||||||||||||||||
Series 2020 B Warrants [Member] | Forecast [Member] | ||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.01 | |||||||||||||||||
The Series 2020 A Warrants [Member] | ||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | [1] | $ 0.60 | $ 0.60 | |||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,957,166 | [1] | 1,957,166 | [1] | 30,000,000 | [1] | 30,000,000 | |||||||||||
Stock Issued During Period, Shares, Upon Exercise of Warrants (in shares) | 28,042,834 | |||||||||||||||||
Proceeds from Warrant Exercises | $ 16,826 | |||||||||||||||||
Series 2020C Warrants [Member] | ||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.01 | $ 0.01 | [1] | $ 0.01 | [1] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 16,532,232 | [1] | [1] | 16,532,232 | [1] | 16,532,232 | ||||||||||||
Stock Issued During Period, Shares, Upon Exercise of Warrants (in shares) | 16,532,232 | |||||||||||||||||
Proceeds from Warrant Exercises | $ 165 | |||||||||||||||||
Class of Warrant or Right, Issuance Price (in dollars per share) | $ 1.29 | |||||||||||||||||
Series 1 Unit [Member] | ||||||||||||||||||
Units Issued During Period (in shares) | 20,896,666 | |||||||||||||||||
Units Issued Price Per Unit (in dollars per share) | $ 0.60 | |||||||||||||||||
Units Issued Common Share Per Unit (in shares) | 1 | |||||||||||||||||
Units Issued Warrant Per Unit (in shares) | 1 | |||||||||||||||||
Series 1 Unit [Member] | Forecast [Member] | ||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.60 | |||||||||||||||||
Series 2 Unit [Member] | ||||||||||||||||||
Units Issued During Period (in shares) | 9,103,334 | |||||||||||||||||
Units Issued Price Per Unit (in dollars per share) | $ 0.59 | |||||||||||||||||
Coupon Make Whole Payments [Member] | Conversion from Convertible 2020/21 Notes to Common Stock [Member] | ||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 300 | $ 1,200 | ||||||||||||||||
Subsequent Event [Member] | The Series 2020 A Warrants [Member] | ||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.60 | |||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 94,108 | |||||||||||||||||
Stock Issued During Period, Shares, Upon Exercise of Warrants (in shares) | 1,863,058 | |||||||||||||||||
Proceeds from Warrant Exercises | $ 1,100 | |||||||||||||||||
January 2021 Offering [Member] | Subsequent Event [Member] | ||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 321,700 | |||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 43,750,000 | |||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 8 | |||||||||||||||||
At-the-market Offering [Member] | ||||||||||||||||||
Proceeds from Issuance of Common Stock | $ 8,400 | $ 11,500 | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 3,518,121 | 3,965,688 | ||||||||||||||||
Increase (Decrease) in At-the-Market Offering of Stock | $ 150,000 | $ 10,700 | $ 84,900 | |||||||||||||||
At-the-market Offering [Member] | Subsequent Event [Member] | ||||||||||||||||||
Proceeds from Issuance of Common Stock | $ 135,800 | |||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 24,420,579 | |||||||||||||||||
Offering of Stock, Remaining Capacity, Value | $ 10,600 | |||||||||||||||||
August 2020 Offering [Member] | ||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 45,800 | |||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 21,929,313 | |||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.30 | |||||||||||||||||
Gevo [Member] | ||||||||||||||||||
Restructuring Charges, Total | $ 20 | |||||||||||||||||
Gevo Development / Agri-Energy [Member] | ||||||||||||||||||
Restructuring Charges, Total | $ 300 | |||||||||||||||||
Workforce Reduced at Luverne Facility [Member] | ||||||||||||||||||
Restructuring and Related Cost, Number of Positions Eliminated | 26 | |||||||||||||||||
Workforce Reduced at Corporate Headquarters [Member] | ||||||||||||||||||
Restructuring and Related Cost, Number of Positions Eliminated | 4 | |||||||||||||||||
Employee Severance [Member] | ||||||||||||||||||
Restructuring Charges, Total | $ 96 | |||||||||||||||||
Lease Agreement [Member] | ||||||||||||||||||
Restructuring Charges, Total | $ 158 | |||||||||||||||||
[1] | The Series 2020-A Warrants, the Series 2020-B Warrants and the Series 2020-C Warrants are equity-classified warrants. |
Note 1 - Nature of Business a_4
Note 1 - Nature of Business and Financial Condition (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance | ||
Additions | 254 | |
Payments | (254) | |
Balance | ||
Employee Severance [Member] | ||
Balance | ||
Additions | 96 | |
Payments | (96) | |
Balance | ||
Lease Agreement [Member] | ||
Balance | ||
Additions | 158 | |
Payments | (158) | |
Balance |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) $ / shares in Units, $ in Thousands, shares in Millions | 1 Months Ended | 12 Months Ended | |||
Sep. 30, 2019$ / sharesshares | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2020yr | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 0 | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | ||||
Measurement Input, Price Volatility [Member] | Minimum [Member] | |||||
Warrants and Rights Outstanding, Measurement Input | 1.3 | ||||
Measurement Input, Price Volatility [Member] | Maximum [Member] | |||||
Warrants and Rights Outstanding, Measurement Input | 1.41 | ||||
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | |||||
Warrants and Rights Outstanding, Measurement Input | 0.003 | ||||
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | |||||
Warrants and Rights Outstanding, Measurement Input | 0.0031 | ||||
Measurement Input, Expected Term [Member] | |||||
Warrants and Rights Outstanding, Measurement Input | 5 | 5 | |||
Series A preferred stock of Juhl Clean Energy Assets, Inc. [Member] | |||||
Number of Securities Purchased (in shares) | shares | 1.5 | ||||
Equity Securities, Purchase Price (in dollars per share) | $ / shares | $ 1 | ||||
Cost of Sales [Member] | |||||
Inventory Write-down | $ 600 | $ 0 | |||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||||
Number of Customers | 1 | 3 | |||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | HCS Group GmbH [Member] | |||||
Concentration Risk, Percentage | 79.00% | 15.00% | |||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Eco-Energy, LLC [Member] | |||||
Concentration Risk, Percentage | 57.00% | ||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Purina Animal Nutrition, LLC [Member] | |||||
Concentration Risk, Percentage | 13.00% | ||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | HCS Group GmbH [Member] | |||||
Concentration Risk, Percentage | 21.00% | ||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Eco-Energy, LLC [Member] | |||||
Concentration Risk, Percentage | 52.00% | 71.00% | |||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Purina Animal Nutrition, LLC [Member] | |||||
Concentration Risk, Percentage | 15.00% | 17.00% |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Securities Potentially Dilute Calculation of Diluted Earnings Per Share (Details) - shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Antidilutive securities (in shares) | 2,083,192 | 1,157,914 |
Warrants to Purchase Common Stock - Liability Classified [Member] | ||
Antidilutive securities (in shares) | 56,735 | 54,989 |
Warrants to Purchase Common Stock - Equity Classified [Member] | ||
Antidilutive securities (in shares) | 1,957,166 | |
Convertible 2017 Notes [Member] | ||
Antidilutive securities (in shares) | 974,139 | |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive securities (in shares) | 1,552 | 1,561 |
Stock Appreciation Rights (SARs) [Member] | ||
Antidilutive securities (in shares) | 67,739 | 127,225 |
Note 3 - Revenues From Contra_3
Note 3 - Revenues From Contracts With Customers and Other Revenues (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 5,463 | $ 24,453 |
Contract with Customer, Asset, after Allowance for Credit Loss, Total | 0 | 0 |
Contract with Customer, Asset, Credit Loss Expense (Reversal) | 0 | 0 |
Transferred at Point in Time [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 5,310 | 24,453 |
Transferred at Point in Time [Member] | Variable Consideration or Multiple Performance Obligations [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 |
Revenue, Remaining Performance Obligation, Amount | 0 | 0 |
Transferred over Time [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 153 | |
Transferred over Time [Member] | Variable Consideration or Multiple Performance Obligations [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 |
Revenue, Remaining Performance Obligation, Amount | $ 0 | $ 0 |
Note 3 - Revenues From Contra_4
Note 3 - Revenues From Contracts With Customers and Other Revenues - Disaggregated Revenues (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 5,463 | $ 24,453 |
Other revenues | 73 | 34 |
Total revenues | 5,536 | 24,487 |
Transferred at Point in Time [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 5,310 | 24,453 |
Other revenues | ||
Total revenues | 5,310 | 24,453 |
Transferred over Time [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 153 | |
Other revenues | 73 | 34 |
Total revenues | 226 | 34 |
Ethanol Sales and Related Products [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 3,809 | 22,115 |
Other revenues | ||
Total revenues | 3,809 | 22,115 |
Hydrocarbon [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 1,501 | 2,338 |
Other revenues | ||
Total revenues | 1,501 | 2,338 |
Grant and Other [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 153 | |
Other revenues | 73 | 34 |
Total revenues | $ 226 | $ 34 |
Note 4 - Leases, Right-to-use_3
Note 4 - Leases, Right-to-use Assets and Related Liabilities (Details Textual) $ in Millions | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Lessee, Operating Lease, Lease Not yet Commenced, Amount | 2 |
Lessee, Operating Lease, Right-of-Use Asset, Not yet Commenced, Fair Value | $ 2 |
Lessee, Operating Lease, Liability, Not yet Commenced, Fair Value | 2 |
Operating Lease, Lease Income, Total | 0.1 |
Deposits and Other Assets [Member] | |
Operating Lease, Right-of-Use Asset | 0.3 |
Accounts Payable and Accrued Liabilities [Member] | |
Operating Lease, Liability, Total | 0.2 |
Other Noncurrent Liabilities [Member] | |
Operating Lease, Liability, Total | $ 0.2 |
Note 4 - Leases, Right-to-use_4
Note 4 - Leases, Right-to-use Assets and Related Liabilities - Lease Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Financing lease cost | $ 5 | ||
Operating lease cost | 605 | 1,554 | |
Short-term lease cost | 307 | 66 | |
Variable lease cost (1) | [1] | 144 | 119 |
Total lease cost | 1,061 | 1,739 | |
Operating cash flows from finance lease | 6 | ||
Operating cash flows from operating leases | 605 | 1,554 | |
Finance cash flows from finance lease | 2 | ||
Right-to-use assets obtained in exchange for new operating lease liabilities | $ 192 | $ 280 | |
Weighted-average remaining lease term, financing lease (months) (Month) | 18 years 240 days | ||
Weighted-average remaining lease term, operating leases (months) (Month) | 210 days | 1 year 270 days | |
Weighted-average discount rate - financing lease (2) | [2] | 13.00% | |
Weighted-average discount rate - operating leases (3) | [3] | 12.00% | 12.00% |
[1] | Represents amounts incurred in excess of minimum payments for common area maintenance and present value discounts. | ||
[2] | The discount rate used for the finance lease was based on the rate implicit in the lease. | ||
[3] | The discount rate used for operating leases is based on our implicit borrowing rate at the date the Company entered into the lease. |
Note 4 - Leases, Right-to-Use_5
Note 4 - Leases, Right-to-Use Assets and Related Liabilities - Future Minimum Payments Under Non-cancelable Operating Leases (Details) $ in Thousands | Dec. 31, 2020USD ($) |
2021, financing leases | $ 36 |
2021, operating leases | 180 |
2022, financing leases | 26 |
2022, operating leases | |
2023, financing leases | 26 |
2023, operating leases | |
2024, financing leases | 26 |
2024, operating leases | |
2025, financing leases | 22 |
2025, operating leases | |
2026 and thereafter, financing leases | 301 |
2026 and thereafter, operating leases | |
Total, financing leases | 437 |
Total, operating leases | 180 |
Less: Amounts representing present value discounts, financing leases | (258) |
Less: Amounts representing present value discounts, operating leases | (5) |
Accounts Payable, Accrued Liabilities and Other Noncurrent Liabilities [Member] | |
Total lease liabilities, financing leases | 179 |
Total lease liabilities, operating leases | $ 175 |
Note 5 - Inventories - Componen
Note 5 - Inventories - Components of Inventory Balances (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Spare parts | $ 1,361 | $ 1,521 |
Total inventories | 2,256 | 3,201 |
Corn [Member] | ||
Raw materials | 267 | |
Enzymes and Other Inputs [Member] | ||
Raw materials | 133 | 184 |
Nutrients [Member] | ||
Raw materials | 1 | |
Jet Fuels, Isooctane and Isooctene [Member] | ||
Finished goods | 756 | 571 |
Isobutanol [Member] | ||
Finished goods | 135 | |
Ethanol [Member] | ||
Finished goods | 93 | |
Distiller's Grains [Member] | ||
Finished goods | 54 | |
Agri-Energy [Member] | ||
Work in process | 254 | |
Gevo [Member] | ||
Work in process | $ 5 | $ 122 |
Note 6 - Property, Plant and _3
Note 6 - Property, Plant and Equipment - Property, Plant and Equipment by Classification (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Property, plant, and equipment, gross | $ 125,525 | $ 120,087 |
Less accumulated depreciation and amortization | (59,117) | (53,391) |
Property, plant and equipment, net | $ 66,408 | 66,696 |
Retrofit Assets [Member] | ||
Property, plant and equipment, useful life (Year) | 20 years | |
Property, plant, and equipment, gross | $ 70,820 | 70,820 |
Machinery and Equipment [Member] | ||
Property, plant and equipment, useful life (Year) | 10 years | |
Property, plant, and equipment, gross | $ 17,374 | 17,413 |
Site Improvement [Member] | ||
Property, plant and equipment, useful life (Year) | 10 years | |
Property, plant, and equipment, gross | $ 7,157 | 7,054 |
Lab Equipment, Furniture and Fixtures, and Vehicles [Member] | ||
Property, plant and equipment, useful life (Year) | 5 years | |
Property, plant, and equipment, gross | $ 6,396 | 6,393 |
Demonstration Plant [Member] | ||
Property, plant and equipment, useful life (Year) | 2 years | |
Property, plant, and equipment, gross | $ 3,597 | 3,597 |
Building [Member] | ||
Property, plant and equipment, useful life (Year) | 10 years | |
Property, plant, and equipment, gross | $ 2,543 | 2,543 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | $ 2,523 | 2,523 |
Leasehold Improvements [Member] | Minimum [Member] | ||
Property, plant and equipment, useful life (Year) | 2 years | |
Leasehold Improvements [Member] | Maximum [Member] | ||
Property, plant and equipment, useful life (Year) | 5 years | |
Computer, Office Equipment, and Software [Member] | ||
Property, plant, and equipment, gross | $ 1,983 | 2,034 |
Computer, Office Equipment, and Software [Member] | Minimum [Member] | ||
Property, plant and equipment, useful life (Year) | 3 years | |
Computer, Office Equipment, and Software [Member] | Maximum [Member] | ||
Property, plant and equipment, useful life (Year) | 6 years | |
Construction in Progress [Member] | ||
Property, plant, and equipment, gross | $ 13,132 | $ 7,710 |
Note 6 - Property, Plant and _4
Note 6 - Property, Plant and Equipment - Depreciation and Amortization Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation and amortization | $ 5,881 | $ 6,492 |
Cost of Sales [Member] | ||
Depreciation and amortization | 5,669 | 6,282 |
Operating Expense [Member] | ||
Depreciation and amortization | $ 212 | $ 210 |
Note 7 - Embedded Derivatives_2
Note 7 - Embedded Derivatives (Details Textual) $ / shares in Units, $ in Thousands | 1 Months Ended | 2 Months Ended | 12 Months Ended | ||||||||||||||||
Jun. 30, 2017 | Feb. 26, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2020 | Dec. 31, 2020USD ($) | Dec. 31, 2020$ / shares | Dec. 31, 2020yr | Aug. 31, 2020shares | Aug. 25, 2020$ / sharesshares | Jul. 31, 2020shares | Jul. 06, 2020shares | Jan. 31, 2020 | Jan. 10, 2020 | Apr. 19, 2017 | |||||
Embedded Derivative, Fair Value of Embedded Derivative, Net, Total | $ | $ 0 | ||||||||||||||||||
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net, Total | $ | $ (8,607) | $ 394 | |||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 2,013,901 | 56,012,653 | |||||||||||||||||
Class of Warrant or Right, Outstanding (in shares) | shares | 2,013,901 | ||||||||||||||||||
Stock Issued During Period, Shares, Upon Exercise of Warrants (in shares) | shares | 53,678,400 | ||||||||||||||||||
Proceeds from Warrant Exercises | $ | $ 17,082 | ||||||||||||||||||
Measurement Input, Expected Term [Member] | |||||||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 5 | 5 | |||||||||||||||||
Minimum [Member] | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.60 | ||||||||||||||||||
Minimum [Member] | Measurement Input, Price Volatility [Member] | |||||||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 1.3 | ||||||||||||||||||
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0.003 | ||||||||||||||||||
Maximum [Member] | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | 220 | ||||||||||||||||||
Maximum [Member] | Measurement Input, Price Volatility [Member] | |||||||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 1.41 | ||||||||||||||||||
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0.0031 | ||||||||||||||||||
The Series 2020 A Warrants [Member] | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 1,957,166 | [1] | 30,000,000 | [1] | 30,000,000 | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | [1] | 0.60 | |||||||||||||||||
Warrants and Rights Outstanding | $ | 8,300 | ||||||||||||||||||
Stock Issued During Period, Shares, Upon Exercise of Warrants (in shares) | shares | 28,042,834 | ||||||||||||||||||
Proceeds from Warrant Exercises | $ | $ 16,826 | ||||||||||||||||||
The Series 2020 A Warrants [Member] | Subsequent Event [Member] | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 94,108 | ||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.60 | ||||||||||||||||||
Stock Issued During Period, Shares, Upon Exercise of Warrants (in shares) | shares | 1,863,058 | ||||||||||||||||||
Proceeds from Warrant Exercises | $ | $ 1,100 | ||||||||||||||||||
Series 2020 B Warrants [Member] | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | [1] | 9,103,334 | [1] | 9,103,334 | 30,000,000 | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | [1] | 0.01 | |||||||||||||||||
Warrants and Rights Outstanding | $ | 2,900 | ||||||||||||||||||
Stock Issued During Period, Shares, Upon Exercise of Warrants (in shares) | shares | 9,103,334 | ||||||||||||||||||
Proceeds from Warrant Exercises | $ | $ 91 | ||||||||||||||||||
Series 2020C Warrants [Member] | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | [1] | 16,532,232 | [1] | 16,532,232 | 16,532,232 | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.01 | [1] | $ 0.01 | ||||||||||||||||
Warrants and Rights Outstanding | $ | $ 21,400 | ||||||||||||||||||
Stock Issued During Period, Shares, Upon Exercise of Warrants (in shares) | shares | 16,532,232 | ||||||||||||||||||
Proceeds from Warrant Exercises | $ | $ 165 | ||||||||||||||||||
Embedded Derivative, 2020/21 Convertible Notes [Member] | |||||||||||||||||||
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net, Total | $ | $ 8,600 | $ 400 | |||||||||||||||||
Convertible 2020 Notes [Member] | |||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | |||||||||||||||||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 150.00% | ||||||||||||||||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 10 | ||||||||||||||||||
Number of Embedded Derivative | 1 | ||||||||||||||||||
Convertible 2017 Notes [Member] | |||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | |||||||||||||||||
Convertible 2020/21 Notes [Member] | |||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | |||||||||||||||||
[1] | The Series 2020-A Warrants, the Series 2020-B Warrants and the Series 2020-C Warrants are equity-classified warrants. |
Note 7 - Embedded Derivatives -
Note 7 - Embedded Derivatives - Schedule of Inputs to Lattice Model Used to Value Embedded Derivatives (Details) | Dec. 31, 2020 | Dec. 31, 2019 |
Measurement Input, Exercise Price [Member] | ||
Embedded derivative liability, measurement input | 2.27 | 2.31 |
Measurement Input, Conversion Rate, Per 1000 dollars [Member] | ||
Embedded derivative liability, measurement input | 409.5 | 67.95 |
Measurement Input, Conversion Price [Member] | ||
Embedded derivative liability, measurement input | 2.44 | 14.72 |
Measurement Input, Risk Free Interest Rate [Member] | ||
Embedded derivative liability, measurement input | 0.0152 | 0.0152 |
Measurement Input, Price Volatility [Member] | ||
Embedded derivative liability, measurement input | 0.4 | 0.6 |
Measurement Input, Entity Credit Risk [Member] | ||
Embedded derivative liability, measurement input | 0.36 | 0.27 |
Note 7 - Embedded Derivatives_3
Note 7 - Embedded Derivatives - Schedule of Shares Issued Upon Exercise of Warrants (Details) - $ / shares | 12 Months Ended | ||||||||
Dec. 31, 2020 | Aug. 31, 2020 | Aug. 25, 2020 | Jul. 31, 2020 | Jul. 06, 2020 | Dec. 31, 2019 | ||||
Shares Underlying Warrants (in shares) | 2,013,901 | 56,012,653 | |||||||
Series F Warrants (in shares) | 53,998,752 | ||||||||
Series F Warrants [Member] | |||||||||
Warrant, Issuance Date | Apr. 1, 2016 | ||||||||
Warrants, Expiration date | Apr. 1, 2021 | ||||||||
Warrant Exercise Price (in dollars per share) | $ 40 | ||||||||
Shares Underlying Warrants (in shares) | 14,041 | 25,733 | |||||||
Series F Warrants (in shares) | 11,692 | ||||||||
Series I Warrants [Member] | |||||||||
Warrant, Issuance Date | Sep. 13, 2016 | ||||||||
Warrants, Expiration date | Sep. 13, 2021 | ||||||||
Warrant Exercise Price (in dollars per share) | $ 220 | ||||||||
Shares Underlying Warrants (in shares) | 35,368 | 35,368 | |||||||
Series F Warrants (in shares) | |||||||||
Series K Warrants [Member] | |||||||||
Warrant, Issuance Date | Feb. 17, 2017 | ||||||||
Warrants, Expiration date | Feb. 17, 2022 | ||||||||
Warrant Exercise Price (in dollars per share) | $ 2 | ||||||||
Shares Underlying Warrants (in shares) | 7,326 | 315,986 | |||||||
Series F Warrants (in shares) | 308,660 | ||||||||
The Series 2020 A Warrants [Member] | |||||||||
Warrant, Issuance Date | [1] | Jul. 6, 2020 | |||||||
Warrants, Expiration date | [1] | Jul. 6, 2025 | |||||||
Warrant Exercise Price (in dollars per share) | [1] | $ 0.60 | |||||||
Shares Underlying Warrants (in shares) | 1,957,166 | [1] | 30,000,000 | 30,000,000 | [1] | ||||
Series F Warrants (in shares) | [1] | 28,042,834 | |||||||
Series 2020 B Warrants [Member] | |||||||||
Warrant, Issuance Date | [1] | Jul. 6, 2020 | |||||||
Warrants, Expiration date | [1] | Jul. 6, 2025 | |||||||
Warrant Exercise Price (in dollars per share) | [1] | $ 0.01 | |||||||
Shares Underlying Warrants (in shares) | [1] | 9,103,334 | 30,000,000 | 9,103,334 | [1] | ||||
Series F Warrants (in shares) | [1] | 9,103,334 | |||||||
Series 2020C Warrants [Member] | |||||||||
Warrant, Issuance Date | [1] | Aug. 25, 2020 | |||||||
Warrants, Expiration date | [1] | Aug. 25, 2025 | |||||||
Warrant Exercise Price (in dollars per share) | $ 0.01 | [1] | $ 0.01 | ||||||
Shares Underlying Warrants (in shares) | [1] | 16,532,232 | 16,532,232 | 16,532,232 | [1] | ||||
Series F Warrants (in shares) | [1] | 16,532,232 | |||||||
[1] | The Series 2020-A Warrants, the Series 2020-B Warrants and the Series 2020-C Warrants are equity-classified warrants. |
Note 7 - Embedded Derivatives_4
Note 7 - Embedded Derivatives - Exercise of Warrants (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Common Stock Issued (in shares) | 53,678,400 | |
Proceeds | $ 17,082 | |
The Series 2020 A Warrants [Member] | ||
Common Stock Issued (in shares) | 28,042,834 | |
Proceeds | $ 16,826 | |
Series 2020 B Warrants [Member] | ||
Common Stock Issued (in shares) | 9,103,334 | |
Proceeds | $ 91 | |
Series 2020C Warrants [Member] | ||
Common Stock Issued (in shares) | 16,532,232 | |
Proceeds | $ 165 |
Note 8 - Accounts Payable and_3
Note 8 - Accounts Payable and Accrued Liabilities - Components Accounts Payable and Accrued Liabilities in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Accrued employee compensation | $ 1,960 | $ 1,946 |
Accounts payable - trade | 897 | 1,474 |
Accrued utilities and supplies | 5 | 645 |
Other accrued liabilities | 1,261 | 1,613 |
Total accounts payable and accrued liabilities | $ 4,123 | $ 5,678 |
Note 9 - Debt (Details Textual)
Note 9 - Debt (Details Textual) $ / shares in Units, $ in Thousands | Jul. 10, 2020USD ($)shares | Jan. 10, 2020USD ($)$ / shares | Apr. 19, 2017$ / shares | Dec. 31, 2020USD ($)shares | Apr. 30, 2020USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Jan. 31, 2020 | Jun. 30, 2017 |
Gain (Loss) on Conversion of Notes to Common Stock | $ (1,916) | |||||||||
Proceeds from Issuance of Long-term Debt, Total | 1,006 | |||||||||
Notes Payable, Other Payables [Member] | ||||||||||
Long-term Debt, Total | $ 1,266 | 1,266 | 749 | |||||||
Debt Instrument, Periodic Payment, Total | $ 100 | |||||||||
Notes Payable, Other Payables [Member] | Minimum [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | |||||||||
Notes Payable, Other Payables [Member] | Maximum [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 21.00% | |||||||||
Conversion from Convertible 2020/21 Notes to Common Stock [Member] | ||||||||||
Debt Conversion, Original Debt, Amount | $ 2,000 | $ 12,700 | ||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 4,169,426 | 5,672,654 | ||||||||
Gain (Loss) on Conversion of Notes to Common Stock | (1,900) | |||||||||
Conversion from Convertible 2020/21 Notes to Common Stock [Member] | Coupon Make Whole Payments [Member] | ||||||||||
Debt Conversion, Original Debt, Amount | $ 300 | $ 1,200 | ||||||||
Convertible 2017 Notes [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | ||||||||
Convertible 2020 Notes [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | ||||||||
Debt Instrument, Interest Rate, Paid In Kind Percentage | 2.00% | |||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 14.72 | |||||||||
Debt Instrument, Convertible, Conversion Ratio | 0.0679 | |||||||||
Long-term Debt, Total | $ 14,100 | |||||||||
Beneficial Ownership Limitation, Percentage | 4.99% | |||||||||
Beneficial Ownership Limitation Percentage, Notice (Day) | 61 days | |||||||||
Beneficial Ownership Limitation After Notice, Percentage | 9.99% | |||||||||
Convertible 2020/21 Notes [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | ||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 2.442 | |||||||||
Debt Instrument, Convertible, Conversion Ratio | 0.4095 | |||||||||
Debt Instrument, Face Amount | $ 14,400 | |||||||||
Debt Instrument, PIK Interest | 4.00% | |||||||||
Debt Instrument, Conversion Price Reduction, Discount Rate | 10.00% | |||||||||
SBA Loans [Member] | ||||||||||
Debt Instrument, Periodic Payment, Total | $ 100 | |||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 1,000 | |||||||||
SBA Loans [Member] | Notes Payable, Other Payables [Member] | ||||||||||
Long-term Debt, Total | $ 1,006 | $ 1,006 |
Note 9 - Debt - Information Per
Note 9 - Debt - Information Pertaining to Convertible Notes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net, Total | $ (8,607) | $ 394 |
Original issue discount paid with 2020/21 Notes | 282 | 280 |
Embedded Derivative, Convertible 2020 Notes [Member] | ||
Balance | 394 | |
Amortization of debt discount | ||
Amortization of debt issue costs | ||
Paid-in-kind interest | ||
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net, Total | (394) | |
Conversion of 2020/21 Notes into common Stock | ||
Fair value of 2020/21 embedded derivative liability upon issuance | 2,848 | |
Increase in fair value of 2020/21 Notes embedded derivative liability prior to conversion of 2020/21 Notes | 5,759 | |
Decrease in fair value of 2020/21 Notes embedded derivative liability upon conversion to common stock | (8,607) | |
Balance | ||
Embedded Derivative, Convertible 2020 and 2020/21 Notes [Member] | ||
Balance | 13,900 | 12,948 |
Amortization of debt discount | 405 | 856 |
Amortization of debt issue costs | 30 | 212 |
Paid-in-kind interest | 316 | 278 |
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net, Total | (394) | |
Conversion of 2020/21 Notes into common Stock | (14,651) | |
Fair value of 2020/21 embedded derivative liability upon issuance | 2,848 | |
Increase in fair value of 2020/21 Notes embedded derivative liability prior to conversion of 2020/21 Notes | 5,759 | |
Decrease in fair value of 2020/21 Notes embedded derivative liability upon conversion to common stock | (8,607) | |
Balance | 13,900 | |
Convertible Debt [Member] | ||
Balance | (123) | (979) |
Balance | (30) | (242) |
Balance | 13,900 | 12,554 |
Amortization of debt discount | 405 | 856 |
Amortization of debt issue costs | 30 | 212 |
Paid-in-kind interest | 316 | 278 |
Conversion of 2020/21 Notes into common Stock | ||
Conversion of 2020/21 Notes into common Stock | ||
Conversion of 2020/21 Notes into common Stock | (14,651) | |
Original issue discount paid with 2020/21 Notes | (282) | |
Balance | (123) | |
Balance | (30) | |
Balance | 13,900 | |
Convertible 2020 Notes [Member] | Convertible Debt [Member] | ||
Balance | 14,053 | 13,775 |
Paid-in-kind interest | 47 | 278 |
Exchange of 2020 Notes for 2020/21 Notes | (14,100) | |
Conversion of 2020/21 Notes into common Stock | ||
Original issue discount paid with 2020/21 Notes | ||
Balance | 14,053 | |
Convertible 2020/21 Notes [Member] | ||
Balance | 13,900 | |
Balance | 13,900 | |
Convertible 2020/21 Notes [Member] | Convertible Debt [Member] | ||
Balance | ||
Paid-in-kind interest | 269 | |
Exchange of 2020 Notes for 2020/21 Notes | 14,100 | |
Conversion of 2020/21 Notes into common Stock | (14,651) | |
Original issue discount paid with 2020/21 Notes | 282 | |
Balance |
Note 9 - Debt - Notes Payable -
Note 9 - Debt - Notes Payable - Other (Details) - Notes Payable, Other Payables [Member] - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Notes payable, other | $ 1,266 | $ 749 |
Less current portion | (809) | (516) |
Long-term portion | 457 | 233 |
SBA Loans [Member] | ||
Notes payable, other | 1,006 | |
Notes Payable, Equipment [Member] | ||
Notes payable, other | 260 | 321 |
Notes Payable, Insurance [Member] | ||
Notes payable, other | $ 428 |
Note 9 - Debt - Future Payments
Note 9 - Debt - Future Payments for Notes Payable - Other (Details) - Notes Payable, Other Payables [Member] - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
2021 | $ 809 | |
2022 | 356 | |
2023 | 65 | |
2024 | 35 | |
2025 | 1 | |
Long-term Debt, Total | $ 1,266 | $ 749 |
Note 10 - Equity Incentive Pl_3
Note 10 - Equity Incentive Plans (Details Textual) - shares | 12 Months Ended | |
Dec. 31, 2020 | Jun. 03, 2020 | |
Percentage Reduction in Salaries and Wages | 20.00% | |
Stock Incentive Plan 2010 [Member] | ||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 3,713,413 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 1,230,359 | 6,980,074 |
Employee Stock Purchase Plan [Member] | ||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 190 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 190 | |
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 85.00% | |
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares) | 0 |
Note 10 - Equity Incentive Pl_4
Note 10 - Equity Incentive Plans - Restricted Common Stock Activity (Details) - shares | 3 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2020 | Sep. 30, 2020 | [1],[2],[3] | Jun. 30, 2020 | [1],[3] | Mar. 31, 2020 | [5] | Dec. 31, 2020 | ||
Vesting Period (Year) | 4 years | ||||||||
Restricted Stock [Member] | |||||||||
Number of Restricted Shares Issued (in shares) | 4,454,046 | ||||||||
Number of Restricted Shares Vested (in shares) | (1,051,417) | ||||||||
Restricted Stock [Member] | Minimum [Member] | |||||||||
Vesting Period (Year) | 2 years | ||||||||
Restricted Stock [Member] | Maximum [Member] | |||||||||
Vesting Period (Year) | 3 years | ||||||||
Restricted Stock [Member] | Stock Incentive Plan 2010 [Member] | |||||||||
Number of Restricted Shares Issued (in shares) | 3,960,036 | [4] | 190,419 | [4] | 106,540 | [4] | 4,244,449 | ||
Number of Restricted Shares Vested (in shares) | [4] | (12,546) | |||||||
Restricted Stock [Member] | Stock Incentive Plan 2010 [Member] | Minimum [Member] | |||||||||
Vesting Period (Year) | [4] | 36 days | 0 years | 2 years | |||||
Restricted Stock [Member] | Stock Incentive Plan 2010 [Member] | Maximum [Member] | |||||||||
Vesting Period (Year) | [4] | 2 years | 36 days | 3 years | |||||
[1] | Includes restricted stock awards granted in exchange for services rendered. | ||||||||
[2] | Includes restricted stock awards granted to employees during July 2020 | ||||||||
[3] | Includes share awarded to employees attributed to 20% reduction in salaries and wages. | ||||||||
[4] | Includes shares withheld from employees to cover tax withholding obligations upon the vesting of restricted stock awards. | ||||||||
[5] | Includes restricted stock awards granted to employees February 27, 2020. |
Note 11 - Stock-based Compens_3
Note 11 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | |
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit (in dollars per share) | $ 20 | ||
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit (in dollars per share) | $ 99,300 | ||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | ||
Share-based Payment Arrangement, Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||
Share-based Payment Arrangement, Exercise of Option, Tax Benefit | $ 0 | ||
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | 1,500 | $ 700 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 2,500 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 146 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 4,454,046 | ||
Stock Appreciation Rights (SARs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 67,739 | ||
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture, Total | $ 600 | ||
Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Forfeiture Rate | 0.00% | ||
Minimum [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | ||
Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Forfeiture Rate | 5.00% | ||
Maximum [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years |
Note 11 - Stock-based Compens_4
Note 11 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Stock-based compensation | $ 2,125 | $ 1,349 |
Stock Options Issued to Employees and Board Members [Member] | Research and Development Expense [Member] | ||
Stock-based compensation | 481 | 228 |
Stock Options Issued to Employees and Board Members [Member] | Selling, General and Administrative Expenses [Member] | ||
Stock-based compensation | 1,620 | 993 |
Restricted Stock [Member] | Research and Development Expense [Member] | ||
Stock-based compensation | 137 | 66 |
Restricted Stock [Member] | Selling, General and Administrative Expenses [Member] | ||
Stock-based compensation | $ (113) | $ 62 |
Note 11 - Stock-based Compens_5
Note 11 - Stock-based Compensation - Stock Option Award Activity (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Options outstanding (in shares) | 1,561 | ||
Options outstanding, weighted average exercise price (in dollars per share) | [1] | $ 928.79 | |
Options outstanding, weighted average remaining contractual term (Year) | 5 years 211 days | 6 years 204 days | |
Granted (in shares) | |||
Granted, weighted average exercise price (in dollars per share) | [1] | ||
Canceled or forfeited (in shares) | (9) | ||
Canceled or forfeited, weighted average exercise price (in dollars per share) | [1] | $ 72,891.04 | |
Exercised (in shares) | |||
Exercised, weighted average exercise price (in dollars per share) | [1] | ||
Options outstanding (in shares) | 1,552 | 1,561 | |
Options outstanding, weighted average exercise price (in dollars per share) | [1] | $ 556.13 | $ 928.79 |
Options exercisable (in shares) | 1,552 | ||
Options exercisable, weighted average exercise price (in dollars per share) | [1] | $ 556.13 | |
Options exercisable, weighted average remaining contractual term (Year) | 5 years 211 days | ||
Options vested and expected to vest (in shares) | 1,552 | ||
Options vested and expected to vest, weighted average exercise price (in dollars per share) | [1] | $ 556.13 | |
Options vested and expected to vest, weighted average remaining contractual term (Year) | 5 years 211 days | ||
[1] | Exercise price of options outstanding range from $20 to $99,300 as of December 31, 2020. |
Note 11 - Stock-based Compens_6
Note 11 - Stock-based Compensation - Non-vested Restricted Stock (Details) - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2020$ / sharesshares | |
Non-vested (in shares) | shares | 1,308,613 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.91 |
Granted (in shares) | shares | 4,454,046 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0.63 |
Vested (in shares) | shares | (1,051,417) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.47 |
Canceled or forfeited (in shares) | shares | (9,686) |
Canceled or forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.90 |
Non-vested (in shares) | shares | 4,701,556 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0.79 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Expense (Benefit), Total | $ 0 | |
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 |
Open Tax Year | 2015 2016 2017 2018 2019 2020 | |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | $ 66,200 | |
Operating Loss Carryforwards, Subject to Limitations | 66,200 | |
Operating Loss Carryforwards, Annual Limitation Amount | 100 | |
Tax Credit Carryforward, Amount | 3,500 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards, Total | $ 21,500 |
Note 12 - Income Taxes - Net De
Note 12 - Income Taxes - Net Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Net operating loss carryforwards | $ 15,406 | $ 109,813 |
Research and other credits | 3,482 | |
Operating lease assets | (82) | (170) |
Operating lease liabilities | 88 | 199 |
Restricted stock | 992 | 452 |
Business interest expense | 1,441 | 980 |
Depreciation | 3,427 | |
Other temporary differences | 321 | 3,419 |
Deferred tax assets | 21,593 | 118,175 |
Valuation allowance | (21,593) | (118,175) |
Net deferred tax assets |
Note 12 - Income Taxes - Reconc
Note 12 - Income Taxes - Reconciling Items from Income Tax Computed at the Statutory Federal Rate (Details) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Federal income tax at statutory rate | 21.00% | 21.00% |
State income taxes, net of federal benefits | 4.10% | 7.00% |
Impact of change in statutory tax rates | (0.80%) | (0.20%) |
Impact of NOL write-offs | (250.40%) | |
Impact of R&D credit write-off | (8.70%) | |
Permanent deductions | (5.30%) | (0.10%) |
Valuation allowance | 240.10% | (27.70%) |
Effective tax rate |
Note 13 - Employee Benefit Pl_2
Note 13 - Employee Benefit Plan (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
The 401(k) Plan [Member] | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0 | $ 0 |
Note 14 - Commitments and Con_2
Note 14 - Commitments and Contingencies (Details Textual) - Indemnification Agreement [Member] $ in Thousands | Dec. 31, 2020USD ($) |
Loss Contingency Accrual, Ending Balance | $ 0 |
Accrual for Environmental Loss Contingencies, Ending Balance | $ 0 |
Note 15 - Fair Value Measurem_3
Note 15 - Fair Value Measurements and Fair Value of Financial Instruments (Details Textual) $ in Thousands | Dec. 31, 2020USD ($) |
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 0 |
Notes Payable, Other Payables [Member] | |
Notes Payable, Fair Value Disclosure | $ 1,300 |
Note 15 - Fair Value Measurem_4
Note 15 - Fair Value Measurements and Fair Value of Financial Instruments - Schedule of Carrying Value and Fair Value by Fair Value Hierarchy of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Warrant [Member] | Fair Value, Recurring [Member] | ||
Derivative liability, fair value | $ 31 | $ 8 |
Warrant [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative liability, fair value | ||
Warrant [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative liability, fair value | ||
Warrant [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative liability, fair value | 31 | 8 |
Finished Goods Inventory [Member] | Fair Value, Nonrecurring [Member] | ||
Inventory, fair value | 631 | |
Finished Goods Inventory [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Inventory, fair value | ||
Finished Goods Inventory [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Inventory, fair value | 631 | |
Finished Goods Inventory [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Inventory, fair value | ||
Corn and Finished Goods Inventory [Member] | Fair Value, Nonrecurring [Member] | ||
Inventory, fair value | 940 | |
Corn and Finished Goods Inventory [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Inventory, fair value | 267 | |
Corn and Finished Goods Inventory [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Inventory, fair value | 673 | |
Corn and Finished Goods Inventory [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Inventory, fair value |
Note 15 - Fair Value Measurem_5
Note 15 - Fair Value Measurements and Fair Value of Financial Instruments - Schedule of Fair Value Measurements Using Level 3 Inputs (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Derivative Financial Instruments, Liabilities [Member] | |
Balance, December 31, 2019 | $ 8 |
Issue of 2020/21 Notes embedded derivative liability | |
Change in value from increase in fair value prior to conversion of 2020/21 Notes | |
Total (gains) or losses for the period included in earnings | 23 |
Balance, December 31, 2020 | 31 |
Embedded Derivative, 2020/21 Convertible Notes [Member] | |
Balance, December 31, 2019 | |
Issue of 2020/21 Notes embedded derivative liability | 2,848 |
Change in value from increase in fair value prior to conversion of 2020/21 Notes | 5,759 |
Total (gains) or losses for the period included in earnings | (8,607) |
Balance, December 31, 2020 |
Note 16 - Segments (Details Tex
Note 16 - Segments (Details Textual) $ in Millions | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Number of Operating Segments | 2 | |
Intercompany Sales | $ 0.1 | $ 0.4 |
Note 16 - Segments - Informatio
Note 16 - Segments - Information on Business Segments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Total revenues | $ 5,536 | $ 24,487 | |
Loss from operations | (26,335) | (26,351) | |
Interest expense | 2,094 | 2,732 | |
Depreciation and amortization | 5,905 | 6,656 | |
Acquisitions of plant, property and equipment | 6,217 | 6,497 | |
Assets | [1] | 152,099 | 93,359 |
UNITED STATES | |||
Total revenues | 4,082 | 22,149 | |
Non-US [Member] | |||
Total revenues | 1,454 | 2,338 | |
Intersegment Eliminations [Member] | |||
Assets | [2] | (131,971) | (141,851) |
Gevo [Member] | |||
Total revenues | 1,650 | 2,338 | |
Loss from operations | (14,914) | (12,360) | |
Interest expense | 2,075 | 2,732 | |
Depreciation and amortization | 214 | 210 | |
Acquisitions of plant, property and equipment | 4,501 | 130 | |
Gevo [Member] | Operating Segments [Member] | |||
Assets | 152,177 | 91,861 | |
Gevo Development / Agri-Energy [Member] | |||
Total revenues | 3,886 | 22,149 | |
Loss from operations | (11,421) | (13,991) | |
Interest expense | 19 | ||
Depreciation and amortization | 5,691 | 6,446 | |
Acquisitions of plant, property and equipment | 1,716 | 6,367 | |
Gevo Development / Agri-Energy [Member] | Operating Segments [Member] | |||
Assets | $ 131,893 | $ 143,349 | |
[1] | All other significant non-cash items relate to the activities of Gevo. | ||
[2] | Includes intercompany sales of $0.1 million and $0.4 million during the years ended December 31, 2020 and 2019, respectively, for hydrocarbon sales. |