V
Verde Clean Fuels, Inc.
VGASCIK 0001841425NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthIndustrial Organic ChemicalsDelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-6.96M
Total Assets
$60.25M
Equity
$58.13M
Shares Out
31.86M
Op. Cash Flow
$-8.89M
Business
Verde Clean Fuels, Inc. is a clean fuels company that develops and deploys a proprietary syngas-to-gasoline (STG+®) liquid fuels processing technology and advances commercial production plants. It produces fully finished, drop-in liquid fuels—primarily reformulated blendstock for oxygenate blending (RBOB) gasoline—derived from diverse feedstocks including natural gas and biomass, and contemplates other fuels such as methanol, renewable diesel, and sustainable aviation fuel. Its business activities include technology development, modular commercial plant design and construction, licensing, and strategic partnerships. Verde targets locations with abundant feedstock and constrained natural gas basins, selling to refiners, distributors, blenders, retailers, trading organizations and potential offtake partners both domestically and internationally.
Summary from filing dated 2025-03-28
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| General and administrative expenses | 12 | 11 | 12 | 5 | 456,765 | |
| Research and development expenses | 591,000 | 451,000 | 329,194 | 316,712 | — | |
| Impairment of property, plant and equipment | 4 | 0 | — | — | — | |
| Total operating loss | 16 | 12 | 11 | −3 | −456,765 | |
| Other (income) | −2 | −1 | −447,074 | — | −17,820 | |
| Loss before income taxes | −14 | −10 | −10 | −3 | −474,585 | |
| Income tax expense | 106,000 | 51,000 | 166,265 | — | — | |
| Net loss | −14 | −11 | −11 | 3 | — | |
| Net loss attributable to noncontrolling interest | −7 | −7 | −8 | — | — | |
| Net loss attributable to Verde Clean Fuels, Inc. | −7 | −3 | −3 | 3 | −474,585 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 57 | 19 | 29 | 463,475 | 505,518 | |
| Restricted cash | 100,000 | 100,000 | 100,000 | — | — | |
| Accounts receivable other | 145,000 | 226,000 | 0 | — | — | |
| Prepaid expenses and other current assets | 466,000 | 804,000 | — | — | — | |
| Total current assets | 58 | 20 | 29 | 4 | 728,662 | |
| Property, plant and equipment, net | 62,000 | 1 | 62,505 | 7,414 | — | |
| Intellectual property and patented technology | 2 | 2 | 2 | 2 | — | |
| Operating lease right-of-use assets, net | 173,000 | 216,000 | 524,813 | 323,170 | — | |
| Deposits | 161,000 | 161,000 | 160,669 | 258,000 | — | |
| Total non-current assets | 2 | 3 | 3 | 3 | — | |
| Total assets | 60 | 24 | 32 | 6 | 175 | |
| Accounts payable | 985,000 | 734,000 | 184,343 | 3 | — | |
| Accrued liabilities | 906,000 | 2 | 2 | 762,119 | 241,579 | |
| Operating lease liabilities | 174,000 | 154,000 | 297,380 | 237,970 | — | |
| Other current liabilities | 35,000 | 16,000 | 0 | — | — | |
| Total current liabilities | 2 | 3 | 2 | 4 | 241,579 | |
| Operating lease liabilities | 12,000 | 78,000 | 232,162 | 85,200 | — | |
| Total non-current liabilities | 12,000 | 78,000 | 641,774 | 1 | — | |
| Total liabilities | 2 | 3 | 3 | 5 | 6 | |
| Commitments and contingencies (see Note 8) | — | — | — | — | — | |
| Additional paid in capital | 64 | 38 | 35 | — | — | |
| Accumulated deficit | −34 | −27 | −24 | −12 | −6 | |
| Noncontrolling interest | 28 | 10 | 18 | — | — | |
| Total stockholders equity | 58 | 21 | 29 | 1 | −7 | |
| Total liabilities and stockholders equity | 60 | 24 | 32 | 6 | 175 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation | 16,000 | 13,000 | 3,497 | 10,034 | — | |
| Share-based compensation expense | 2 | 1 | 3 | 1 | — | |
| Amortization of right-of-use assets | 352,000 | 309,000 | 413,354 | 237,850 | — | |
| Prepaid expenses | 294,000 | −431,000 | −259,648 | 17,053 | −223,144 | |
| Accounts payable | −218,000 | 144,000 | −6,645 | 108,121 | — | |
| Accrued liabilities | −992,000 | 540,000 | 185,912 | — | — | |
| Operating lease liabilities | −355,000 | −297,000 | −383,778 | −237,850 | — | |
| Other changes in operating assets and liabilities | 28,000 | 3,000 | −323,115 | — | — | |
| Net cash used in operating activities | −9 | −9 | −9 | −3 | −528,283 | |
| Additions to property, plant and equipment | −8 | −3 | −58,588 | −4,411 | — | |
| Reimbursements of development costs in accordance with the JDA | 5 | 2 | — | — | — | |
| Net cash used in investing activities | −2 | −855,000 | −58,588 | −4,411 | −174 | |
| Issuance of Class A common stock to Cottonmouth | 50 | 0 | 32 | — | — | |
| Payment of equity issuance costs | −554,000 | 0 | — | — | −373,002 | |
| Net cash provided by financing activities | 49 | 0 | 37 | 4 | 175 | |
| Net change in cash, cash equivalents and restricted cash | 38 | −10 | — | −377,553 | 494,398 | |
| Capital expenditures in accounts payable and accrued liabilities (at period end) | 459,000 | 406,000 | — | — | — | |
| Accounts receivable for reimbursement of capital expenditures (at period end) | 141,000 | 214,000 | 0 | — | — | |
| Cash paid for income taxes | 192,000 | 46,000 | 431,632 | — | — |
Filings
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