Global Clean Energy Hldgs Inc Stock Price, News & Analysis

Global Clean Energy Holdings, Inc. (OTCQB: GCEH) provided a shareholder update highlighting its achievements in the renewable fuels sector amidst global challenges. The company's share price increased nearly 750% from 2019 to 2021, led by the anticipated operational launch of its Bakersfield Renewable Fuels Refinery. Key acquisitions include Camelina Company Espana and Agribody Technologies, positioning GCEH for robust growth in sustainable fuel production. A significant investment of $125M from ExxonMobil reinforces GCEH's strategy, ensuring a substantial relationship for renewable diesel supply.

Global Clean Energy Holdings, Inc. (OTCQX: GCEH) has successfully secured $145 million in financing led by ExxonMobil through a non-convertible Series C Preferred Stock issuance. The funds will support the completion of the Bakersfield biorefinery and enhance camelina feedstock production. Additionally, the company appointed Amy K. Woods and E. Nicholas Jones to its Board of Directors, both of whom bring extensive experience from ExxonMobil. CEO Richard Palmer emphasized the benefits of this funding in restructuring debt and increasing future cash flows.

Global Clean Energy Holdings (GCEH) has partnered with UGI Corporation's AmeriGas to purchase and distribute renewable LPG produced at GCEH's upcoming Bakersfield biorefinery. Set to process up to 15,000 barrels of renewable feedstock per day, the facility aims to produce around 13 million gallons of renewable LPG in its first year, making it the largest of its kind in the U.S. The multi-year agreement will see AmeriGas serve as the exclusive buyer, highlighting GCEH's commitment to advancing renewable fuel markets in California.

Global Clean Energy Holdings (GCEH) announced a major investment from ExxonMobil of $125 million, allowing ExxonMobil an option to acquire a 25% equity stake. This funding aims to expand GCEH’s camelina cultivation in the U.S. and support the production of renewable diesel. The investment, part of a larger $165 million package, includes contributions from existing lenders. GCEH’s renewable diesel can potentially cut greenhouse gas emissions by 40% to 80% compared to petroleum-based fuels.

Global Clean Energy Holdings, Inc. (GCEH) has announced the acquisition of Camelina Company España S.L. (CCE), Europe's largest camelina crop innovator based in Madrid, Spain. This acquisition aims to enhance GCE's camelina production capabilities across North America, Europe, and South America, ultimately boosting its renewable fuel offerings. CCE brings over 10 years of expertise and extensive intellectual property in camelina genetics and agronomics. This strategic move aligns with GCE's goal of sustainably increasing feedstock for renewable diesel and aviation fuel, while supporting agricultural practices that do not threaten food security.

Global Clean Energy Holdings, Inc. (OTC-PINK:GCEH) announced the acquisition of 45 acres in Havre, Montana for a new 600,000 bushel grain storage and rail loading facility, set to begin construction in Q1 2022. This facility will enhance logistical advantages for Sustainable Oils and its camelina growers, allowing direct loading to GCEH's biorefinery in Bakersfield, California. Additionally, ExxonMobil has committed to purchasing up to 220 million gallons of renewable diesel from GCEH's refinery.

Global Clean Energy Holdings (OTC-PINK: GCEH) has signed a Master Services Agreement with Pacific Gas and Electric (PG&E) to implement renewable projects at its Bakersfield Renewable Diesel Refinery. PG&E's Sustainable Solutions Turnkey (SST) team will oversee project engineering and construction. Planned projects include a 10 MW solar plant and various energy efficiency upgrades. These initiatives aim to cut operating costs and reduce the refinery's carbon intensity, enhancing the value of Low Carbon Fuel Standard (LCFS) credits generated from renewable fuels.

Global Clean Energy Holdings (OTCQX: GCEH) has released its Proxy Statement and Annual Report ahead of the November 17, 2022, stockholders meeting. The report highlights the company's progress in its integrated Farm-to-Fuel strategy, focusing on its renewable diesel refinery in Bakersfield, California. GCEH is set to uplist to Nasdaq by year-end, having moved to the OTCQX Best Market. Key achievements include expanding their team, enhancing compliance with Nasdaq, and establishing strategic relationships with major entities like ExxonMobil.

Global Clean Energy Holdings, Inc. (OTCQX: GCEH) has announced a transition to a new independent accounting firm, Grant Thornton LLP, approved by its Audit Committee. This decision is attributed to GCEH's rapid growth and the need for a larger, internationally recognized firm with expertise in auditing alternative energy companies. Importantly, this change was not due to any disagreements with the previous auditor, maintaining the integrity of past financial statements. GCEH continues to focus on its farm-to-fuel strategy and is developing the largest renewable fuels facility in the western U.S.