# Verde Clean Fuels Inc. (VGAS)

**Exchange:** NASDAQ  
**Sector:** Utilities  
**Market cap:** $26M  
**Price:** $1.43 (-2.05%)

> Verde Clean Fuels Inc. is a clean fuels company specializing in the deployment of proprietary liquid fuels processing technology through the development of commercial production plants in the United States. Its patented synthesis gas (syngas)-to-gasoline plus (STG+) process converts syngas, derived from diverse feedstocks such as biomass, municipal solid waste, mixed plastics, and natural gas, directly into finished gasoline or methanol that requires no additional refining. This modular and scalable technology enables production of renewable, low-carbon gasoline suitable for internal combustion engines, leveraging existing refueling infrastructure while reducing carbon emissions. Key applications include producing 30% less carbon-intensive gasoline from natural gas to mitigate flaring in oil-producing regions like the Permian Basin and generating carbon-negative gasoline from gasified biomass such as agricultural byproducts. Verde Clean Fuels Inc. plays a significant role in decarbonizing the transportation fuels sector by creating demand for stranded or low-cost feedstocks and supporting the transition to lower-emission liquid fuels. Founded in 2007 and headquartered in Houston, Texas, the company focuses on advancing projects like natural gas-to-gasoline facilities in partnership with energy producers.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | — | — | -$13M | -$14M | $-0.39 |
| 2024 | — | — | -$12M | -$11M | $-0.53 |
| 2023 | — | — | -$12M | -$11M | $-0.45 |
| 2022 | — | — | -$5M | $3M | $0.29 |
| 2021 | — | — | -$4M | -$13M | $-1.38 |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $60M | $2M | $58M | $57M | $12,000 |
| 2024 | $24M | $3M | $21M | $19M | $78,245 |
| 2023 | $32M | $3M | $29M | $29M | $641,774 |
| 2022 | $6M | $5M | $1M | $463,475 | $85,200 |
| 2021 | $3M | $9M | -$7M | $87,638 | $79,528 |
| 2020 | $3M | $422,354 | $3M | $1M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$12M | -$8M | -$17M |
| 2024 | -$9M | -$3M | -$11M |
| 2023 | -$9M | -$58,588 | -$9M |
| 2022 | -$3M | -$4,411 | -$3M |
| 2021 | -$3M | -$2,596 | -$3M |

Source: [CompaniesByCap](https://companiesbycap.com/company/VGAS)