Welcome to our dedicated page for Global Clean Energy Hldgs news (Ticker: GCEH), a resource for investors and traders seeking the latest updates and insights on Global Clean Energy Hldgs stock.
Global Clean Energy Holdings, Inc. (OTCQB: GCEH) generates news coverage around its vertically integrated renewable fuels business built on proprietary camelina feedstocks and its Bakersfield renewable fuels facility. Company announcements highlight developments across its farm-to-fuel value chain, from plant science and contracted camelina acreage to renewable diesel production and financial restructuring activities.
News items for GCEH include updates on the commercial operation of the Bakersfield Renewable Fuels Facility and its production of renewable diesel and other renewable co-products from camelina. The company also issues releases on advancements in camelina breeding and herbicide-resistant varieties, which are intended to expand production areas and support farmer adoption of this nonfood, ultra-low carbon feedstock.
Global Clean Energy’s news flow features climate- and policy-related milestones, such as selection for and contracting under the USDA Partnerships for Climate-Smart Commodities grant program to lead the Climate-Smart Camelina Project. Additional coverage comes from collaborations with partners like EarthDaily Agro, Intelinair, Louis Dreyfus Company, and Bayer, focused on data-driven agronomy, regenerative agriculture, and camelina cultivation in multiple regions.
Investors and observers can also find corporate updates in GCEH news, including leadership transitions and the company’s decision to enter into a Restructuring Support Agreement and commence voluntary Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas. Together, these news releases provide context on Global Clean Energy’s operational progress, strategic partnerships, and capital structure initiatives within the renewable fuels and agricultural feedstocks space.
Global Clean Energy Holdings, Inc. (GCEH) announced the relocation of its camelina feedstock subsidiary, Sustainable Oils, Inc., to a new headquarters in Great Falls, Montana. This state-of-the-art facility will enhance crop innovation and support their goal of growing over one million acres of camelina for renewable diesel production by November 1, 2021. The initiative is projected to generate over $250 million annually for contract growers. Camelina is integral to GCEH's renewable diesel strategy and has been approved under California's Low Carbon Fuel Standard.
Global Clean Energy Holdings (OTCQX: GCEH) provided a mid-year update highlighting its progress in 2021. The company reported a net loss between $12 and $15 million for Q2, while holding approximately $65 million in cash, with $46 million allocated for its Bakersfield biorefinery construction. As of June 30, GCEH has utilized $245 million of a $385 million credit facility. The appointment of two experienced board members and the acquisition of Agribody Technologies also mark significant corporate developments. Camelina feedstock operations are expanding, with successful drought-resilient crops reported.
Global Clean Energy Holdings (OTCQX: GCEH) announces the addition of independent directors, Ms. Susan Anhalt and Ms. Phyllis Currie, to its Board. This move aims to enhance board expertise and facilitate a future Nasdaq listing. Anhalt, with over 25 years in M&A and legal challenges for high-growth companies, holds a BA from Stanford and a JD from Indiana University. Currie, former General Manager of Pasadena Water and Power, has significant regulatory and financial expertise. Currie will chair the Audit Committee, while Anhalt will join the Nominating and Corporate Governance Committee.
Global Clean Energy Holdings (OTCQB: GCEH) has expanded its five-year agreement with ExxonMobil, increasing the purchase of renewable diesel to up to 5 million barrels annually from its Bakersfield biorefinery. The biorefinery, expected to start production in early 2022, utilizes GCEH's patented camelina crop, providing significant reductions in greenhouse gas emissions. ExxonMobil will exclusively distribute the fuel within California and beyond, marking a major step in GCEH's vertically integrated renewable fuels strategy.
Global Clean Energy Holdings, Inc. (OTCQB: GCEH) has completed a 1-for-10 reverse stock split, changing its trading symbol to GCEHD for 20 business days before reverting back to GCEH.
The company is focused on vertically integrated renewable fuels, managing the supply chain from feedstock development to renewable fuels distribution. GCEH is retooling its renewable diesel refinery in Bakersfield, California, aiming to be the largest renewable fuels facility in the western U.S. once completed in early 2022.
Global Clean Energy Holdings, Inc. (GCEH) announced a reverse stock split of its common stock at a 1-for-10 ratio, effective March 26, 2021. This decision, approved by shareholders, aims to enhance shareholder value and facilitate a potential move to a national exchange like Nasdaq. The split reduces GCEH's outstanding shares from approximately 358.5 million to about 35.9 million while maintaining the par value. The company continues to focus on renewable fuels and operates the largest renewable fuels facility using non-food feedstocks.
Global Clean Energy Holdings (GCEH) updated shareholders through a recent letter from CEO Richard Palmer. Key developments include securing $365 million in non-recourse debt financing for retooling an oil refinery in Bakersfield, California, aimed at producing renewable diesel and other fuels. Construction has begun, with operations expected to start in early 2020. The Bakersfield Renewable Fuels facility will be the largest biorefinery in the western U.S., utilizing camelina as a sustainable feedstock, contributing to non-food energy crop development for biofuels.