Welcome to our dedicated page for Vertex Energy news (Ticker: VTNRQ), a resource for investors and traders seeking the latest updates and insights on Vertex Energy stock.
The Vertex Energy (VTNRQ) news page on Stock Titan aggregates company-issued updates and market coverage related to this specialty refiner and marketer of high-quality refined products. Vertex’s own releases focus on its role as an energy transition company, its refining operations, and its financial restructuring activities.
News about Vertex Energy has included announcements on the operation of the Mobile, Alabama refinery, such as the successful startup and reconversion of the refinery’s hydrocracker into conventional service. In these updates, the company has described the use of vacuum gas oil (VGO) as feedstock and the production of higher-value refined products, including gasoline and diesel, while preserving renewable fuels production capabilities for potential future use.
Another key theme in Vertex Energy news is its Chapter 11 restructuring. The company has reported completing a financial restructuring process, emerging from Chapter 11 with a deleveraged balance sheet, exit financing commitments, and a transition to private ownership under certain lenders. Related news items describe the confirmed plan, the change in ownership structure, and the company’s stated goal of building a more sustainable capital structure.
Visitors to this page can review Vertex Energy’s official communications on topics such as operational projects at the Mobile refinery, safety and turnaround performance, and the outcomes of its restructuring. For investors and observers interested in the company’s refining activities, energy transition positioning, and capital structure changes, this news feed offers a centralized view of Vertex’s publicly released information over time.
Vertex Energy has successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy with a significantly improved financial position. The company secured up to $100 million in exit financing, including $40 million initial borrowings, and achieved deleveraging of approximately $320 million of prepetition debt.
Following the restructuring, Vertex will operate as a privately-held company under the ownership of certain lenders, including funds managed by BlackRock Financial Management, Highbridge Capital Management, Whitebox Advisors, and CrowdOut Capital. The company announced leadership changes, with Mark Smith appointed as the new CEO, replacing Benjamin P. Cowart. A new five-member Board of Directors was also established, with Eugene Davis as Chairman.
Vertex Energy (OTCPK:VTNRQ) has successfully started up the Mobile Refinery hydrocracker in conventional service, marking the beginning of higher-value finished product production for Q4 2024. The reconversion project, completed on time and budget with zero OSHA recordable injuries, was executed as part of a planned catalyst and maintenance turnaround.
In conventional service, the hydrocracker uses vacuum gas oil (VGO) as feedstock to produce additional volumes of higher-value refined products, including gasoline and diesel. The Mobile Refinery has maintained its renewable fuels production capabilities for potential future market demands.
Benjamin P. Cowart, President and CEO of Vertex Energy, emphasized the team's operational excellence in safely redeploying the asset while preserving future renewable optionality. The company's focus now shifts to further business optimization for sustained performance and long-term growth.
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