Verde Clean Fuels, Diamondback unit sign JDA for Permian Basin gas-to-gasoline facility

Verde Clean Fuels, Inc.

Verde and Cottonmouth Ventures (Diamondback subsidiary) executed JDA to develop, construct, and operate a natural gas-to-gasoline facility in Martin County, TX.
Proposed facility to produce ~3,000 barrels per day of RBOB gasoline using Verde's proprietary STG+ process.
Project could mitigate flaring of up to 34 million cubic feet of natural gas per day from Diamondback's Permian operations.
JDA sets a pathway to final definitive documents and a Final Investment Decision; not yet a binding commitment.
Scalability noted: similar gas-to-gasoline facilities possible across Diamondback's West Texas locations.

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