Verde | Bakersfield Renewable Gasoline Production Facility
USA
Greenfield
Overview
Status
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Greenfield
Region
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North America
Geography
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USA
State
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California
Equity Owner
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Verde Clean Fuels
Proponent
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Verde Clean Fuels
Output
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Renewable gasoline
Type of electricty
-
Capacity
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21,000 gallons - 500 barrels/day
Financing
-
Technology
-
Technical Advisors
-
Advisors
-
Project Contact
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Ernest Miller, Verde Chief Executive Officer
Lawyers
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Orrick
Project Cost
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$235m
Offtaker
-
Commercial Operations Date
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2027
Decommission Date
-
FID
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July, 2025
Description
A new renewable gasoline production facility at California Resources Corporation’s Net Zero Industrial Park in Kern County, California.
CRC has entered into a Carbon Dioxide Management Agreement between Carbon TerraVault JV HoldCo, LLC and Verde Clean Fuels Inc.
CTV JV initially plans to sequester a minimum of 100,000 MT per year of CO2 from Verde’s facility at the CTV I carbon storage vault. This new facility is expected to produce approximately 21,000 gallons per day (500 barrels) of renewable gasoline from biomass and other agricultural waste feedstock.
Project FID targeted in 2025; commercial operations targeted in 2027.