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Shareholder Update
October 11, 2021
Richard Palmer, President & CEO
LOS ANGELES, October 11, 2021--(BUSINESS WIRE)--Global Clean Energy Holdings, Inc. (OTCQX: GCEH) has issued its Proxy Statement and Annual Report for its November 17, 2022 annual meeting of stockholders. The Annual Report contained the following Letter to Shareholders that provided shareholders with an update on GCEH’s vertically integrated Farm-to-Fuel businesses, including the status of the renovation of its renewable diesel refinery in Bakersfield, California.
President’s Letter to Shareholders
As we prepare for our annual shareholders meeting this fall, I wanted to send this letter to all of our shareholders to provide you with an update on our progress. Our team, which is now approaching 100 members, is working tirelessly to achieve our goal of building a truly integrated biofuels value chain business. Our Farm-to-Fuels strategy is well underway as we continue to invest in assets and people in our Upstream, Midstream, and Downstream businesses.
I would like to take this opportunity to publicly welcome all of our new employees and new board members to the GCEH organization and thank our entire team for their outstanding work. To achieve great things, you need great people… and we continue to be extremely fortunate to attract incredible talent. Our team possesses world class experience and creativity, which translates into positive energy and a passion for our overall mission, strategy and goals.
Since my last update, we have made significant progress in moving our Upstream, Midstream, and Downstream businesses along, as well as progressing our corporate goal of uplisting our stock to a national exchange.
GCEH – Our progress includes moving our public listing up to OTC Markets’ highest listing level, the OTCQX Best Market, which is two levels higher than last year. We have pre-filed an application with Nasdaq, and our goal is to be listed on Nasdaq by the year’s end. To be prepared for Nasdaq and to position the company for significant near-term growth, we have put in place several key items:
Last quarter, we increased the size of our Board of Directors to five members by adding two experienced independent Board members who will also participate in the Board’s committees (one of whom will also serve as the new chair of our Audit Committee).
We engaged Grant Thornton LLP, as our new independent registered public accounting firm, to begin their services for our third quarter review. Grant Thornton is a large international firm with substantial knowledge and deep talent and diversity in agriculture, energy, infrastructure and taxation, which makes their experience well aligned with our businesses and growth trajectory.
Reporting and compliance processes have been enhanced to be in compliance with Nasdaq requirements, inclusive of a robust delegation of authority, internal controls and processes and procedures.
Upstream – Sustainable Oils – This year, we have been busy developing both our Camelina plant genetics and our grower relationships, including the following:
Plant genetics – We have expanded our plant genetics portfolio and capabilities with the acquisition of Agribody Technologies, Inc. (ATI), an agricultural biotechnology company. The intellectual property (IP) we acquired in our purchase of ATI includes key patents that can improve Camelina yield and stress tolerance.
New Camelina Varieties – This year we applied for seven new Camelina patents and submitted six plant variety protection applications. We planted large commercial test acreage of these new Camelina varieties to demonstrate their commercial viability to our existing and expanding farmer base. These additional varieties will significantly expand our unique Camelina IP portfolio.
Grower/Farmer Deployment – We have entered into strategic relationships with several farmer cooperatives and other large agriculture-based entities to expand the grower adoption of Camelina through their existing grower networks in Montana, Kansas, Colorado and Washington. We will also continue to grow and expand Camelina production through third-party farmers in Idaho and Oregon.
Expanded Facilities – We are in the process of relocating Sustainable Oils’ North American headquarters to Great Falls, Montana. This relocation includes moving to a new state-of-the-art facility, as well as expanding our technical and commercial staff. The new, world-class facility is strategically located in the southern part of the "Golden Triangle" farming region of Montana. Our expanded team of highly experienced geneticists, breeders, agronomists, and commercial crop managers significantly increases our capacity for supporting our grower network. The expanded facility in Montana includes additional technical and commercial capabilities with the ability to support our large-scale acreage expansion of commercial Camelina production in the region.
Midstream – We are expanding the midstream segment of our operations to provide grain aggregation, processing, and transportation capabilities for our Camelina growers. To support our expansion in Montana, we are developing three grain aggregation sites that are co-located with an existing cooperative’s assets, CHS Inc., in the region. When completed, the new aggregation assets will leverage the resources of the cooperative to optimize our combined processing and handling of product at the facilities. Our goal is to be fully operational at our first site by the fall 2022 harvest.
Downstream – Bakersfield Renewable Fuels – Our downstream refinery business, which is anchored by our biorefinery in Bakersfield, CA, is on track to be fully operational in the first quarter of 2022. We remain focused on completing construction and are preparing to start-up our refinery operations in the coming months. We have continued to expand our relationships with the signing of a term purchase agreement with ExxonMobil for the commercialization of our ultra-low carbon feedstock supply and renewable diesel produced in Bakersfield. Our progress towards becoming the leading, lowest cost domestic producer of ultra-low carbon renewable fuels is accelerating. The integrated Farm-to-Fuels value chain strategy differentiates us from other renewable fuel producers, both domestically and worldwide.
In order to provide our shareholders with additional information regarding our business and operations, we have added our first Corporate Presentation to our website. We hope that the Corporate Presentation provides you with additional information about our business strategy and unique industry position, as well as other general information about us. www.gceholdings.com/presentations.
In closing, we are expanding our strategic relationships with world class entities, such as ExxonMobil and CHS. Together, we continue our pursuit of producing non-food-based feedstocks and advancing toward our goal of "net zero" emissions fuels.
We always appreciate the continued support you have placed with our Board of Directors' vision and in our management team.
Again, as always, thank you all…Watch us grow!!!
Warmest Regards,
Richard Palmer
President & Chief Executive Officer
View source version on businesswire.com: https://www.businesswire.com/news/home/20211011005685/en/
Contacts
Global Clean Energy Holdings, Inc.
Natalie Findlay
(424) 318-3518
contact@gceholdings.com
For Newbies' Friends in high places.
https://indexarticles.com/business/business-wire/global-clean-energy-holdings-forms-joint-venture-with-accomplished-agricultural-alternative-energy-entrepreneurs-the-venture-to-acquire-and-develop-land-in-mexico-to-grow-jatropha-trees/
One of the largest farmers in world.
Stewart's a multi-billionair now.
He put us on 50,000 acres in Yucatan.
Wouldn't surprise me if he didn't step in on the Camelina farms somehow.
ya, i was here in 08
emit...
Yes - they must know not to be out on a friday because Monday should bring in more buying it's set for $10 easy imvho.
nasdaq baby'
could happen at any moment.
e
Looking good today
Looking at the 7 day, we got our much needed first stair-step to start a nice trend-line.
However if news fades for bit she will drift down afterall it was at 3.5 not too long ago.
Excellent presentation on what's to come so i'll be buyer.
e
This has been trading well. Let's see what happens.
Hey,,, welcome aboard!
nice see another poster'
feeling little bewildered why no-ne else here.
Others are at the stock twit - but anyway
We're going to NASDAQ!
e
Took a starter here today. Intrigued.
Institutions could already be nibbling.
e
Me thinks we be $12 on nas n fair market now's $8
remember this thing coming from .003 to .16
rocked my world. then stayed strong. r/s behind us
let's usher in new commodity folks
i bought today'
e
Strong Day! high i am
our 54 million attempt yr back got big commdities firm behind us'
camilina will become household name...
we're into 240M mark on 360M alotment. solar coming!
more beans for food'
higher quality jet fuel
hv u noticed they ain't saying it anymore; probably because exxons in charge that now; but we're contracted with pg-e for an excess product.
emit...
WOW WEEEEEEEEEEEEEEEEEEEE!
However, you ain't seen nothing yet!
$28
e
Yes, once on NAS institutional money will flow in.
imvho
emit...
Well, darn-it, I was looking to website and did not see the 10-11 shareholder update
or the PG-E news until last few days when saw them on yahoo finance!
We got OTCQX and are going to the NASDAQ! maybe by christmas - WOW!
And lookie!
''Our downstream refinery business, which is anchored by our biorefinery in Bakersfield, CA, is on track to be fully operational in the first quarter of 2022. We remain focused on completing construction and are preparing to start-up our refinery operations in the coming months.''
I've been here since the beginning when Stewart Resnick and Salem opened doors for us in Jatropha.
wow, going nasdaq'
emit...
It was on Wallet Investor, and it was a long term forcast. imo we'll surpass that by March 22 with such a tight structure..
e
I ask my Gooogle mini the stock quote this morning and it gave me some outfits price prediction; it said $9 short-term.
I've looked on www and can't find it n can't remember the headline name.
Spring is not far away'
e
Page 18, that's a lot farms! Wow!
Set to go online Q1 2022
e
Fall 2021 GCEH Corporate Presentation
https://a6d2a7c6-05f4-43cd-872b-1a94e2532e00.filesusr.com/ugd/6c4096_aa1b1f3f594d4ada9211dd4df4af8313.pdf
emit...
''Once operating at full design capacity, our biorefinery would produce up to 15,000 barrels per day (BPD) of renewable diesel (RD), making it the largest biorefinery in the Western US and the 2nd largest in North America.''
https://www.gceholdings.com/production
''Sustainable fuels produced at GCEH's refinery will also include renewable butane, renewable naphtha and renewable propane, all of which will be used for transport.''
https://www.gceholdings.com/products
Bought several times under $4
$10+ by Feb
imo
e
$4s tomorrow possibly'
I loaded lower.
News must be near.
e
She will be coming alive! ALIVE
ALIVE
YES!
e
She will be coming alive! ALIVE
ALIVE
YES!
e
We be eligable for some that banking money soon.
https://www.msn.com/en-us/news/politics/abandoned-wells-are-a-huge-climate-problem/ar-AAPyZ1L?ocid=msedgntp
e
I only own 3 OTC companies now and by Christmas I want to own 0.
emit...
I'll ad lil more soon - when she moves, she really really moves.
yup
e
NEWS!
''GCEH also announced that earlier this year it’s SO-50 patented Camelina seed variety was planted in commercial quantities with more than 50 large farmers in six states including Montana, Oregon, Washington , Idaho, Kansas and Colorado. In Montana, which has been experiencing a severe drought, those acres are now yielding a viable Camelina crop where many other staple crops in Montana (such as wheat, lentils, peas) have failed to survive under the higher-than-normal temperatures and severe drought conditions.''
https://www.gceholdings.com/news
NICE!
emit...
Hmmmmm' Green Fleet in-works maybe.
''In 2020, ExxonMobil signed an agreement with Global Clean Energy Holdings to purchase
2.5 million barrels of renewable diesel per year for five years, starting in 2022. The renewable diesel
will be sourced from a refinery acquired by Global Clean Energy that is being repurposed to produce
renewable diesel. In addition, the Company has completed a sea trial of ExxonMobil’s first bio-based
marine fuel, which can provide up to approximately 40 percent CO2 emissions reduction compared to
conventional marine fuels.''
https://corporate.exxonmobil.com/-/media/Global/Files/energy-and-carbon-summary/Energy-and-Carbon-Summary.pdf
e
Website Updated
Completion Early 2022
''Once operating at full design capacity, our biorefinery would produce up to 15,000 barrels per day (BPD) of renewable diesel (RD), making it the largest biorefinery in the Western US and the 2nd largest in North America''
https://www.gceholdings.com/
emit...
Adding again -
by Fall we'll be getting news
and that's just few months away.
imo
e
I bought lil more this morning'
$20 coming
e
Got feeling we bout-blast off!
we're 6,os into the yr
$10 w/news of opening
yup
by xmas
jet-yacht fuel baby - per new clean gov regs
Airline Contracts
e
Hmmm seems to be rehash of last PR.
https://seekingalpha.com/news/3699334-global-clean-energy-and-exxonmobil-expands-renewable-fuels-agreement?mail_subject=gceh-global-clean-energy-and-exxonmobil-expands-renewable-fuels-agreement&utm_campaign=rta-stock-news&utm_content=link-3&utm_medium=email&utm_source=seeking_alpha
e
Nice to have such a huge partner that probably has our best-interest in mind.
https://corporate.exxonmobil.com/Energy-and-innovation/Advanced-biofuels
emit...
''The biorefinery, on schedule to begin production in early 2022, will process up to 15,000 barrels per day of renewable feedstock.''
e
Sweeeet!
trying figure out why my etrade showing 00s on GCEH after-hours.
e
Exxon doubles commitment:
https://finance.yahoo.com/news/exxon-expands-renewable-fuel-agreement-141200067.html
Exxon doubles commitment:
https://finance.yahoo.com/news/exxon-expands-renewable-fuel-agreement-141200067.html
Exxon doubles commitment:
https://finance.yahoo.com/news/exxon-expands-renewable-fuel-agreement-141200067.html
It's the over-all direction that the biofuels are headed.
especially sustainable ones
got consider
e
I saw no reference made about GCEH in the story.... A synfuel made from trash doesn't seem to relate to GCEH's business plan..
Exxon then airline contracts'
load-up
https://www.msn.com/en-us/autos/news/united-airlines-announces-alliance-for-sustainable-jet-fuel-made-from-trash/ar-BB1fC9dv?ocid=msedgntp
e
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