MMEX solar powered ultra-low sulfur fuels with carbon capture project in Texas progresses
FORT STOCKTON, Texas — MMEX Resources Corp. (OTCPK: MMEDX), a development-stage company focusing on planned hydrogen and ultra-low sulfur fuel projects with carbon capture, announced it has completed certain milestones with its technology provider for its West Texas project.
Jack W. Hanks, President and CEO of MMEX Resources Corp., said, “We announced on Feb. 8, 2021, and Mar. 24, 2021, our modified business plan moving MMEX to clean energy production. We plan to provide solar power to produce blue hydrogen with carbon capture, green hydrogen by electrolysis and for the transition to the hydrogen economy by producing hydrogen along with ultra-low sulfur transportation fuels in the interim.”
“We have now completed significant milestones on the technology timeline and financing for our Ultra Fuels 2 Plus project. With our first round of financing closing on Jul. 20, 2021, we are accelerating the design and engineering of the Ultra Fuels 2 Plus project which incorporates up to a 95% reduction in overall emissions after carbon capture. Fine-tuning of the process design has provided for additional crude-type flexibility beyond what was initially targeted at the facility. We can broaden the selection of crude feedstock and we project significantly improved plant economics. We are also able to expand the clean 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.”
Gerry Obluda, Principal of Polaris Engineering, the technology provider and EPC of the UF2 Plus project added, “We have selected a major technology partner to license carbon capture technology and become the first oil refinery in the world to fully capture CO2 emissions, inclusive of the power generation for the facility. Polaris has completed the UF2 process design and is accelerating the site-wide engineering design inclusive of carbon capture and is on track to deliver lump sum turnkey pricing for the complete facility on advanced progress milestones early fourth quarter of 2021.”
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