Verde Clean Fuels Q2 2023 GAAP diluted EPS -$0.12; signs Carbon TerraVault agreement

Verde Clean Fuels, Inc.

2023-Q2 EPS reported -$0.22

GAAP diluted loss per share of $(0.12) for Q2 2023; net loss attributable to Verde of $749k.
Signed non-binding Carbon Capture Agreement with Carbon TerraVault (CRC/Brookfield) for plant in Kern County targeting 7M+ gallons renewable gasoline and 100k+ metric tons CO2 sequestration per year.
Selected first development site in West Texas with Cottonmouth Ventures for natural gas-to-gasoline facility; expects Joint Development Agreement to proceed with FEED and permitting.
Cash and cash equivalents $33.2M as of June 30, 2023.
Discussing long-term offtake arrangements for D3 RINs, LCFS credits, and gasoline to manage price risk.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Verde Clean Fuels, Inc. reported second quarter 2023 results: EPS $(0.12) per diluted share.

Period: second quarter 2023
EPS: $(0.12) per diluted share
Result: reported results

Exact text from the filing

reported second quarter 2023 GAAP diluted loss per share of $(0.12).

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Source: SEC EDGAR

accession 0001213900-23-067119

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