- Bluescape Clean Fuels, LLC is positioned to be a leading supplier of gasoline derived from renewable feedstocks through the development of multiple facilities across the United States
- The transaction is expected to provide the combined company with a minimum of $80 million in gross proceeds from a simultaneous PIPE financing with proceeds to be utilized towards construction of Verde Clean Fuels’ first commercial production facility
- After CENAQ shareholder approval and closing of the transaction, the combined company is expected to have a pro forma enterprise value of $280 million and a pro forma implied market capitalization of $500 million assuming no redemptions by CENAQ shareholders
HOUSTON, Aug. 12, 2022 (GLOBE NEWSWIRE) — CENAQ Energy Corp. (NASDAQ: CENQ) (“CENAQ”), a special purpose acquisition company focused on energy and energy transition, and Bluescape Clean Fuels Intermediate Holdings, LLC (“BCF”), a private company positioned to be a leading supplier of gasoline derived from renewable feedstocks, announced today the signing of a definitive business combination agreement (the “Business Combination Agreement” and such transactions contemplated thereby, the “Business Combination”). Upon closing of the Business Combination, the combined company will be named Verde Clean Fuels, Inc. (“Verde Clean Fuels”), and is expected to become publicly listed on the NASDAQ under the symbol “VGAS.”
Bluescape Clean Fuels Holdings, LLC (“Bluescape…
