Camber Energy to acquire 100% of $750M Nevada-based renewable diesel plant

In Texas, Camber Energy, Inc. announced that on January 20, 2023, it entered into a Membership Interest Purchase Agreement to acquire a 100% interest in companies that own and are in the process of bringing into commercial operations a processing plant designed to produce renewable diesel. The estimated production capacity of the plant once operational is ⁓ 43,000,000 gallons per year.

Reuters reported that the plant is located near Reno, Nevada and the purchase price will be around $750 million.

Camber’s obligation to close the transaction is conditional on a number of items set out in the Membership Interest Purchase Agreement, and there is no guaranty the conditions will be satisfied.