Verde Clear Fuels, Inc. (NASDAQ: VGAS) (“Verde” or the “Firm”) at the moment introduced the appointment of George Burdette as Chief Govt Officer (“CEO”) and the hiring of Roth Capital Companions (“Roth”) as monetary advisor to help the Firm in evaluating strategic alternate options. These bulletins are a part of the continued development of our beforehand introduced restructuring and value discount initiatives. Mr. Burdett replaces Ernie Miller, who’s stepping down as CEO to pursue different alternatives. Mr. Miller will stay with the Firm as a senior advisor. Mr. Burdett, who has served because the Firm’s Chief Monetary Officer (“CFO”) since October 2024, will even proceed in that position.
“George is deeply concerned in our monetary technique and restructuring efforts and brings sturdy monetary and operational management. He’s well-positioned to guide Verde as we transfer into our subsequent part targeted on capital-light alternatives to deploy our STG+ ® expertise. And on behalf of our firm, I want to thank Ernie for his accomplishments and contributions,” mentioned Ron Hulme, Chairman of the Firm’s Board of Administrators.
Mr. Burdett commented, “I’m excited in regards to the alternative to guide Verde within the execution of a revised technique targeted on one of the best path to deploy expertise, whereas managing our sources with nice self-discipline. In reference to the revised technique, we’re present process a structured course of to judge accessible strategic alternate options, together with the potential of a sale or merger. I look ahead to working carefully with our board and advisors to execute this course of effectively and maximize shareholder worth.”
Mr. Burdett is a confirmed senior govt with greater than 20 years of expertise in finance, company improvement and industrial management. Mr. Burdett has led world groups in each private and non-private fairness, executing complicated mergers, acquisitions, divestitures and financings in extra of $8 billion. Previous to becoming a member of the Firm, Mr. Burdett served as CFO of Arbor Renewable Gasoline, a personal equity-owned renewable fuels platform. Previous to becoming a member of Arbor, Mr. Burdett was CFO of Itafos (TSX-V: IFOS), a publicly traded world phosphate fertilizer producer, the place he was instrumental in growing methods to climate excessive market downturns and reposition for achievement. Previous to becoming a member of Itafos, Mr. Burdett was head of venture finance at First Photo voltaic (NASDAQ: FSLR), the place he led quite a lot of complicated transactions, together with the sale of 8 Level 3 Vitality Companions LP (NASDAQ: CAFD), a monetary enterprise yieldco. Previous to becoming a member of First Photo voltaic, Mr. Burdett held numerous finance, company improvement and funding administration roles in vitality infrastructure and personal fairness.
The Firm beforehand initiated a restructuring and value optimization program geared toward aligning its enterprise construction with strategic priorities and considerably decreasing working bills. As a part of our continued efforts to maximise stockholder worth, we retained Mr. Ross as a monetary advisor to judge strategic alternate options accessible to us. These alternate options could embrace strategic partnerships, mergers, company gross sales, asset gross sales, licensing agreements, capital raisings, or different transactions involving the Firm’s STG+ ® expertise platform or belongings.
There may be no assurance that we’ll enter into or full any transaction on account of this overview of strategic alternate options, and no timeline has been established for the completion of the strategic overview. Right now, we don’t have any binding agreements in place and there’s no assure that any transaction will happen. We don’t intend to reveal developments associated to this course of except we consider additional disclosure is acceptable or needed.
About Verde Clear Fuels, Inc.
Verde has modern and proprietary gas-liquid processing expertise that may convert low-value or stagnant feedstocks into high-value, clear transportation fuels. Our syngas (“syngas”) to gasoline plus (STG+ ® ) course of is designed to transform syngas derived from quite a lot of feedstocks, together with pure fuel and biomass, into totally completed liquid fuels that require no extra purification. STG+ ® expertise is designed for industrial scale deployments and is meant to be delivered in standardized modular models. Since 2007, greater than $110 million has been invested within the improvement and demonstration of STG+ ® expertise. This consists of the development and operation of an indication plant that has accomplished greater than 10,000 hours of operation.
Ahead-looking statements
This press launch comprises “forward-looking statements” throughout the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended. All statements, aside from statements of present or historic truth, contained herein relating to our expectations and future monetary efficiency, our technique, future operations, monetary situation, prospects, plans, targets and administration aims are forward-looking statements. “may”, “ought to”, “would”, “would”, “goal”, “could”, “focus”, “consider”, “anticipate”, “intend”, “estimate”, “anticipate”, “proceed”, ” The phrases “plan”, “venture”, “could”, “purpose”, “technique”, “proposed”, “place”, the unfavourable of such phrases, and different comparable expressions are for identification functions. Nevertheless, not all forward-looking statements comprise such particular phrases. Such forward-looking statements should not ensures of future efficiency, situations or outcomes and contain quite a lot of recognized and unknown dangers, uncertainties, assumptions and different essential components, a lot of that are past our management and will trigger precise outcomes or outcomes to vary materially from these mentioned within the forward-looking statements. These forward-looking statements are based mostly on administration’s present expectations and assumptions about future occasions and are based mostly on at the moment accessible data relating to the result and timing of future occasions. Besides as in any other case required by relevant regulation, we undertake no obligation to replace the forward-looking statements expressly certified by the statements on this part to replicate occasions or circumstances after the date hereof. The Firm cautions that these forward-looking statements contain dangers and uncertainties, most of that are troublesome to foretell and lots of of that are past the Firm’s management. These dangers and uncertainties embrace, however should not restricted to, modifications generally financial, monetary, authorized, regulatory, political, governmental and enterprise situations; modifications in home and worldwide markets and insurance policies; if we’re unable to implement our expertise; If for any purpose we’re unable to commercialize the expertise; If we’re unable to finish the transaction. dangers and uncertainties associated to the implementation of our technique and the timing of our enterprise milestones; delays within the acquisition, financing, development and improvement of potential tasks; If a number of of the dangers or uncertainties described on this doc and oral statements made in connection therewith materialize, or if the underlying assumptions show incorrect, precise outcomes and plans could differ materially from these expressed within the forward-looking statements. There could also be extra dangers that we’re not at the moment conscious of or that we at the moment consider should not materials, which may trigger precise outcomes to vary from these contained within the forward-looking statements. Further data relating to these and different components that will have an effect on our expectations and projections is contained in our filings with the Securities and Alternate Fee (“SEC”). Our SEC filings can be found on the SEC’s web site at www.sec.gov.
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Investor data:
Caldwell Bailey (ICR)
verdeIR@icrinc.com
