FORT STOCKTON, TEXAS — MMEX Resources Corp. (OTCPK: MMEX), announced it has retained Chatsworth Securities LLC as Financial Advisor for its Ultra Fuels Plus clean energy carbon capture project. MMEX is a development-stage company focusing on planned green and blue hydrogen facilities and ultra-low sulfur fuel projects with carbon capture.
Jack W. Hanks, President and CEO of MMEX Resources Corp., said, “Today, we are pleased to have Chatsworth Securities LLC join our project team as an advisor for the Ultra Fuels project in Pecos County, Texas. Today, we proudly announce that Chatsworth Securities LLC will serve as Financial Advisor for the development of one of the first clean fuels production facilities with carbon capture in the U.S.
With our first round of financing closed on Jul. 20, 2021, we accelerated the Ultra Fuels 2 Plus project FEL-2 design and engineering which incorporates up to a 95% reduction in overall emissions after carbon capture. Polaris Engineering, our technology partner has now completed 80% of the UF2 process design, and we are accelerating the site-wide engineering design inclusive of carbon capture and on track to deliver lump sum turnkey pricing for the complete facility next month.
This builds on our previously announced plans on Feb. 8, 2021, and Mar. 24, 2021, moving MMEX towards clean fuels production to be integrated with the development of a Hydrogen hub (blue and green hydrogen) near the UF2 refinery site.
Ralph DiFiore, Senior Managing Director of Chatsworth Securities LLC, said “We are excited to be part of the team helping MMEX, a company that we believe will be a leader for the development of clean fuels facilities in the U.S. We look forward to working closely with the MMEX team for the development of this important project.”