Operator: Thank you. One moment for our next question. Our next question comes from the line of Saumya Jain of UBS. Your line is now open.
Saumya Jain: Hi, thanks, guys. I guess I was wondering could you provide some clarity on the net zero one and net zero two timeline as well? And I guess, have you guys considered, have you looked into maybe, like, securing a partner to help financing or any other cost reductions on that regard that you’re looking into?
Patrick Gruber: Yes. So Net-Zero 1 timeframe is, you heard it’s about the timeline runs through getting the DOE loan done, raising the equity, getting the financial close. That will happen on its time frame, late this — probably late this year, early next year in that timeframe, and that will go get built. There’s a Net-Zero is got lots of traction. So it’s quite interesting. Net-Zero 2 is, we have several sites that we’ve targeted. They could be brought on pretty quickly, and all of it is done with partners. So that’s how it’s going to be done. One of the things that partners want to see is, hey, you all got [Technical Difficulty] where is it? What’s the interest rate? How much capital is needed? So that’s all part of the plan that we’re executing.
All of this financing would be done at a project finance level, not at a Gevo level. This is a fundamentally important point for everybody, not at the Gevo level. This is done in a special purpose entity where it’s project financing. And so it has to meet project finance requirements, and that’s how we approach it.
Saumya Jain: Okay. Got it. So when you say for Net-Zero 1, you say the DOE loan, the financial close, and that would all be probably later this year, early next year, and then how long do you think once it would be construction is fully done and all that?
Patrick Gruber: I hate to predict that. The normal timeframes, you can’t win at this, actually. So it’s 24 months. 24 months if things go right. And if they don’t, it takes a little longer. Now, if I was — if it was us building off our balance sheet, and I had my own engineers building it without having to have help, I could do it faster I’ll bet. But you know what? That’s not how this gets done in this modern world. It’s disappointing, so, okay, 24 months-ish.
Operator: Thank you. This concludes the question-and-answer session. I’ll now like to turn it back to Pat Gruber for closing remarks.
Patrick Gruber: Yes. So this GREET, this 45-Z precedent is a big deal. The amount of work it took. I got to congratulate Lindsay and the team, the rest of my folks, for the amount of effort to put in to try to educate people a year ago, people gave slim odds that we could get GREET model stuffed in there and support it with data and get people tuned into the fact that you really can count carbon. The idea that they’re willing to do this, in part, that’s from the work that we’ve done with Verity and all the rest showing, no, in fact, you really can count these things at a field level. People didn’t believe that could be done. We’ve had to show them it can be done and should be counted. And so that’s all part of it. So I feel pretty good about where we’re at, and I feel like we’re getting a lot of traction.
We have traction with our customers; we have traction with the DOE. We’ve got money. I don’t like our stock price at all, but by God, remains good process. So thanks for the support. You have listened [ph] you all have a good afternoon, evening.
Operator: Thank you for your participation to this conference. This does conclude the program. You may now disconnect.
