Verde Clean Fuels develops a patented STG+ process to convert associated natural gas into fully refined gasoline. The company is pursuing joint development and construction of potential natural gas-to-gasoline production plants using Permian Basin feedstock supplied from Diamondback's operations. Proceeds from the transaction are expected to be used to further develop and construct those plants and for other general corporate purposes. Verde recently closed a $50 million equity investment in which Cottonmouth Ventures purchased 12.5 million shares of Verde's Class A common stock at $4.00 per share. This is Cottonmouth's second investment in Verde over the past two years, bringing Cottonmouth's total investment to $70 million and making it the company's second-largest shareholder. The company expanded its board from seven to eight members and appointed Johnny Dossey as Cottonmouth's director designee; Dossey currently serves as Vice President of Marketing at Diamondback and will participate on Verde's board as the company finalizes engineering and shifts toward constructing and operating commercial production plants.

Total raised

$50M

Funding rounds

1

Latest round

Equity

Latest activity

Feb 2025