Verde Clean Fuels Inc - VGAS STOCK NEWS

Verde Clean Fuels (NASDAQ: VGAS) has closed a $50 million equity investment from Cottonmouth Ventures, a subsidiary of Diamondback Energy. The investment involves the purchase of 12.5 million shares of Verde's Class A common stock at $4.00 per share. This marks Cottonmouth's second investment in Verde, bringing their total investment to $70 million and making them Verde's second-largest shareholder.

The proceeds will fund the development and construction of natural gas-to-gasoline production plants using Verde's patented STG+® process. These plants will utilize associated natural gas feedstock from Diamondback's Permian Basin operations. Following the investment, Verde expanded its Board of Directors to eight members, appointing Johnny Dossey, Cottonmouth's director designee, who currently serves as Vice President of Marketing at Diamondback.

Verde Clean Fuels (NASDAQ: VGAS) has secured a $50 million equity investment from Cottonmouth Ventures, a subsidiary of Diamondback Energy. The deal involves the purchase of 12.5 million shares at $4.00 per share, expected to close in Q1 2025. This marks Cottonmouth's second investment in Verde, bringing their total investment to $70 million and making them Verde's second-largest shareholder.

The proceeds will fund the development of natural gas-to-gasoline production plants in the Permian Basin, utilizing Verde's patented STG+® process to convert Diamondback's associated natural gas into fully-refined gasoline. Upon closing, Verde will expand its board to eight members, including a Cottonmouth-designated director and observer.

Verde Clean Fuels (NASDAQ: VGAS) reported Q3 2024 results, highlighting ongoing FEED progress for their proposed Permian Basin project with Diamondback Energy. The company recorded a net loss of $(2.5) million and diluted loss per share of $(0.12) for Q3, with a $(7.9) million net loss and $(0.39) loss per share for the nine months ended September 30, 2024. Verde maintains a strong financial position with $21.7 million in cash and no debt. The company has capitalized $0.7 million in FEED costs for the Permian project and appointed George Burdette as CFO in October 2024.

Verde Clean Fuels (NASDAQ: VGAS) has appointed George Burdette as Chief Financial Officer. Burdette brings over 15 years of experience in finance, commercial operations, corporate development, and investment management. CEO Ernie Miller expressed confidence in Burdette's ability to advance the company's plans for deploying its proprietary liquid fuels processing technology through commercial production plants.

Burdette's previous roles include CFO at Arbor Renewable Gas and Itafos, as well as head of project finance at First Solar. He has experience in energy infrastructure and private equity, holding a Bachelor's degree in International Business and French from Wofford College and an International MBA from the University of South Carolina.

Verde Clean Fuels (Nasdaq: VGAS) reported Q2 2024 results with a GAAP diluted net loss per share of $(0.14) and a consolidated net loss of $2.8 million. The company ended the quarter with $23.2 million in cash and cash equivalents. Key developments include:

1. Selection of Chemex Global as FEED services partner for the Cottonmouth Ventures Permian Basin project.
2. Ongoing discussions with potential offtake parties for carbon credits and gasoline.
3. Focus on developing the first commercial facility using Verde's proprietary STG+® technology to produce gasoline from stranded natural gas or waste feedstocks.

The company's expenses primarily consist of general and administrative costs and R&D related to its commercial facility development efforts.

Verde Clean Fuels (NASDAQ: VGAS) has selected Chemex Global to lead the front-end engineering and design (FEED) phase for a proposed natural gas-to-gasoline facility in the Permian Basin. This project, developed in partnership with Diamondback Energy's subsidiary Cottonmouth Ventures, aims to convert natural gas using Verde's proprietary STG+ technology. The facility is expected to produce 2,900 barrels per day of gasoline and mitigate flaring of up to 34 million cubic feet of gas daily. FEED work is set to begin now, with completion expected in early 2025, followed by engineering, procurement, and construction phases targeting a 2027 finish.

Verde Clean Fuels, under the stock ticker VGAS, has announced its participation in upcoming investor and industry events. CEO Ernie Miller will attend the UBS Decarbonization Conference on June 6, 2024, in New York City. He will also participate in the e-Fuels Summit on August 26-27, 2024, in Houston, TX. These events present opportunities for Verde to engage with investors and industry experts, potentially influencing its market position and stock performance.

Verde Clean Fuels (NASDAQ: VGAS) reported a GAAP diluted net loss per share of $(0.13) for Q1 2024, primarily due to general, administrative, and R&D expenses. The company continues to develop its first commercial facility using proprietary STG+® technology, aimed at converting syngas into gasoline from waste feedstocks. Verde is part of a DOE-funded consortium studying zero-emission methanol production, with a total project funding of up to $500,000. Financials show decreased general and administrative expenses compared to Q1 2023 but an increased net loss attributable to Verde shareholders. As of March 31, 2024, Verde's total assets stood at $30.05 million with total liabilities at $3.1 million.

Verde Clean Fuels, Inc. announced its participation in a consortium awarded US Department of Energy funding for a study on zero-emission methanol production technology. The consortium, led by TDA Research, Inc., will design a direct air capture process to source CO2 from the atmosphere and integrate it with a methanol plant. Verde plans to use its proprietary STG+ technology to produce green methanol. The total funding for the project is $500,000, with a project period lasting until the end of 2024. This project highlights Verde's commitment to innovative e-fuel technology and the decarbonization of methanol production.