FORT STOCKTON, TEXAS , Feb. 22, 2022 (GLOBE NEWSWIRE) -- MMEX Resources Corp. (OTCPK: MMEX), a development-stage company focusing on planned hydrogen and ultraclean fuel projects with carbon capture, announced it has received on February 18, 2022 , the approval of the Texas Commission on Environmental Quality (TCEQ) to build its Pecos County , West Texas UltraClean Refinery project.
Jack W. Hanks , President and CEO of MMEX Resources Corp. , said, “We announced on December 8, 2021 that along with Polaris Engineering, we had completed significant milestones on the technology timeline for our UltraClean Refinery project. Along with Polaris, we have now completed 100% of the front-end engineering and design package. With the guidance of Trinity Consultants and Polaris Engineering we filed our application with TCEQ and received approval on February 18, 2022 to build and operate the complete facility. In addition, we have signed letters of intent with an international trading company to supply the crude oil and to purchase the finished products from the refinery. Achieving these significant milestones have allowed us to move forward with planned financing and commercial arrangements.”
Hanks continued, “This is the first greenfield refinery project implementing carbon capture in the United States to be authorized through Permit by Rule. This planned facility is projected to reduce substantially Greenhouse Gas and Criteria Pollutants compared to existing US oil refineries on a per barrel basis. The refinery has expanded production estimates from 10,000 bpd to 11,600 bpd.”
As noted in MMEX’s July 29, 2021 announcement, we are able to expand the ultraclean fuels product flexibility with the facility being slated to produce finished transportation grade ultra-low sulfur diesel; 87 Regular, 87 Clear, and 93 Premium grades of gasoline, readily available to our market on Interstate 10 , the "transcontinental" highway traveling thru eight states from coast to coast. Our rail capacity is expected to allow us to reach Texas Gulf Coast and western U.S. markets to take advantage of clean fuels mandates and price advantages.
Gerry Obluda , Principal of Polaris Engineering, the technology provider, EPC and O&M of the UltraClean project added, “As noted in the December 8, 2021 announcement, Polaris has been awarded the patent for our process which we have worked on for the past four years. We have now completed the MMEX front end engineering and design study which gives us the detailed engineering and project cost of the project for financing. With the milestone of the TCEQ permit approval we can commence construction as soon as MMEX issues the notice to proceed.”
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