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Houston American Energy Closes Acquisition of Cedar Port Development Site in Baytown, Texas
Globenewswire· 2025-07-15 12:30
Core Insights - Houston American Energy Corp. (HUSA) has acquired a 25-acre site in Cedar Port Industrial Park for $8.5 million, aimed at establishing a low-carbon fuels and innovation hub [1][2][5] - The site will host HUSA's first plastics recycling plant, converting plastic waste into pyrolysis oil, and will serve as a foundation for developing recycling and renewable technologies [2][5] - The Cedar Port site is strategically located in the largest master-planned rail and barge-served industrial park in the U.S., providing logistical advantages for transportation and access to a skilled workforce [3][6][7] Company Overview - HUSA is an independent energy company with a diversified portfolio in both conventional and renewable sectors, focusing on oil and natural gas exploration and production [8] - The acquisition of Abundia Global Impact Group, specializing in waste plastic conversion to low-carbon fuels, reflects HUSA's commitment to sustainable energy solutions [8] Strategic Advantages - The Cedar Port Industrial Park features heavy industry infrastructure, including heavy-haul-rated roads and rail interchanges, facilitating efficient transportation of feedstock and products [6] - The region's skilled workforce in engineering and operations is a significant asset for HUSA as it expands its facilities and operations [7] - TGS Cedar Port Partners, the seller of the site, has a strong background in the plastic resin industry, handling approximately 5 billion pounds of plastic resin annually [3][10]
Houston American Energy Secures $5 Million in Strategic Financing to Acquire Texas Gulf Coast Development Site
Globenewswire· 2025-07-11 12:30
Core Viewpoint - Houston American Energy Corp. has secured a $5 million Convertible Note to fund part of the acquisition of a 25-acre site at Cedar Port Industrial Park, aimed at developing a plastics-to-low-carbon fuels hub [1][4]. Group 1: Acquisition Details - The acquisition site is located in the largest rail and barge-served industrial park in the U.S., providing logistical advantages for transporting feedstock and low-carbon fuels [2]. - The expected closing date for the acquisition is July 2025, with a total cost of approximately $8.5 million [4]. Group 2: Financial Instrument - The Senior Secured Convertible Note has an 8% Original Issue Discount for a face amount of about $5.4 million and carries a 7% interest rate, maturing on July 10, 2026 [3]. - The Note is convertible into common shares at a price representing a 10% premium to a defined look-back price, which is the lower of the closing price on the day prior to signing or the five-day average closing price [3]. Group 3: Company Overview - Houston American Energy Corp. is an independent energy company with a diversified portfolio in both conventional and renewable sectors, focusing on oil and natural gas exploration and production [5]. - The company has recently acquired Abundia Global Impact Group, which specializes in converting waste plastics into low-carbon fuels, reflecting its commitment to sustainable energy solutions [5].
Valero Energy (VLO) Earnings Call Presentation
2025-06-26 09:17
Refining Operations - Valero has 15 refineries with a high-complexity throughput capacity of 3.2 million barrels per day[7] - Valero's refining segment adjusted EBITDA per barrel averaged $7.20 from 2015 to 2024[192] - Valero's global wholesale volumes reached 1.517 million barrels per day in 2024, representing 60% of total light products production[80] Low-Carbon Fuels - Valero has a renewable diesel production capacity of up to 1.2 billion gallons per year[8] - The Diamond Green Diesel (DGD) Port Arthur plant has the capability to upgrade approximately 235 million gallons per year of renewable diesel production capacity to sustainable aviation fuel (SAF)[8, 39] - Valero's ethanol plants have a combined production capacity of 1.7 billion gallons per year[9] Financial Performance and Capital Allocation - Valero's average payout ratio to stockholders has been 70% since 2014, or 58% excluding 2020[16] - Valero has reduced shares outstanding by over 38% since 2014[16] - Valero's cumulative EBITDA from renewable diesel reached $2.957 billion, with cumulative capital expenditures of $1.986 billion[34] - Valero targets a 20% to 30% net debt-to-capital ratio[47]