Businesswire·2026-02-06 21:15Core Viewpoint - Verde Clean Fuels, Inc. has suspended the development of its Permian Basin project due to changing market conditions, particularly the increasing demand for natural gas in the region [1] Group 1: Project Development - In February 2024, Verde entered into a joint development agreement with Cottonmouth Ventures, a subsidiary of Diamondback Energy, to develop a natural gas-to-gasoline plant in the Permian Basin using Verde's STG+ technology [2] - The development work for the Permian Basin Project included a front-end engineering and design study, which was completed in December 2025 [2] Group 2: Company Strategy - The CEO of Verde expressed gratitude to Diamondback for their support and noted that insights gained from the FEED study will be beneficial for exploring other opportunities to deploy their technology [3] - The company plans to focus its resources on other opportunities where natural gas is stranded or flared, aiming to provide a market for such gas while mitigating flare issues and producing gasoline with lower carbon intensity [4]