Verde Clean Fuels, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending March 31, 2025. The company recorded a net loss of $2.7 million, an increase from a loss of $2.5 million in the same period last year. General and administrative expenses rose to $3.0 million, up 8% from $2.8 million, primarily due to increased headcount. Research and development expenses also saw a substantial increase of 114%, totaling $183,306 compared to $85,835 in the prior year, reflecting the company's ongoing investment in its proprietary technology.
The company’s total assets surged to $71.3 million as of March 31, 2025, compared to $23.6 million at the end of 2024. This increase was largely driven by a significant rise in cash and cash equivalents, which reached $65.3 million, up from $19.0 million. The increase in cash was primarily due to a $50 million private investment in public equity (PIPE) transaction with Cottonmouth Ventures, LLC, which closed on January 29, 2025. This investment is expected to support Verde's development activities, particularly its first commercial production facility.
Operationally, Verde Clean Fuels is advancing its Permian Basin Project, which aims to utilize its STG+® technology to convert natural gas into gasoline. The company entered into a joint development agreement with Cottonmouth in February 2024, which outlines the framework for the project, including a front-end engineering and design (FEED) study contracted to Chemex Global, LLC. As of March 31, 2025, Verde reported $4.3 million in construction in progress, net of reimbursements from Cottonmouth, indicating ongoing development efforts.
Looking ahead, Verde Clean Fuels anticipates that its cash reserves will be sufficient to fund operations through the 2025 fiscal year. However, the company acknowledges the need for additional capital to complete its commercial production plant. The timing and amount of future funding will depend on various factors, including the pace of development activities and market conditions. The company remains focused on expanding its operations and exploring additional opportunities to deploy its technology while managing its resources effectively.
About Verde Clean Fuels, Inc.
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