Verde Clean Fuels, Inc. and Cottonmouth Ventures LLC Announce Joint Development Agreement for a Proposed Natural Gas-to-Gasoline Facility in Permian Basin
Verde Clean Fuels, Inc. - Class A (VGAS)
Company Research
Source: Business Wire
Verde Clean Fuels aims to deploy its proprietary STG+ process utilizing Permian Basin natural gas produced by Diamondback Energy’s operations with the goal to produce approximately 3,000 barrels per day of RBOB gasoline HOUSTON--(BUSINESS WIRE)--Verde Clean Fuels, Inc. (NASDAQ: VGAS) (“Verde” or the “Company”) and Cottonmouth Ventures LLC, a subsidiary of Diamondback Energy (NASDAQ: FANG) (“Diamondback”), today announced that the parties have executed a Joint Development Agreement (“JDA”) for the proposed development, construction, and operation of a facility to produce commodity-grade gasoline utilizing associated natural gas feedstock supplied from Diamondback’s operations in the Permian Basin.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240213075887/en/The JDA provides a pathway forward for the parties to reach final definitive documents and Final Investment Decision (“FID") for the proposed project. The JDA frames
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