In Texas, Vertex Energy, Inc. has completed its first series of commercial sales transactions of renewable diesel from its recently completed Renewable Diesel production facility at its refinery located in Mobile, Alabama. The initial sales totaled approximately 110,000 barrels of RD to Idemitsu Apollo Renewable Corporation, a wholly-owned California-based subsidiary of Idemitsu Kosan, per the previously disclosed product supply agreement announced in February 2022.
The company also announced expected increases in RD production volumes remain on schedule as planned, at a current rate of approximately 7,700 barrels per day (bpd). The company maintains plans to continue increasing RD production levels towards its previously stated target of approximately 8,000 bpd, by the end of 2Q23.
