MMEX has signed a new project agreement today (May 25) to advance its first hydrogen clean fuels with carbon capture projects along with expansion of its site in Texas, US.
This new venture will bring MMEX into the hydrogen economy and market with this new agreement allowing the group to implement all four process components into its sites.
MMEX is a development stage company that is focusing on the acquisition, development and financing of oil, gas, refining and infrastructure projects in both Texas and South America.
Jack Hanks, President and CEO of MMEX Resources Corp, said, “We are expanding our footprint in Pecos County, Texas to accommodate our solar powered clean energy projects which include potential production of hydrogen and ultra-low sulphur transportation fuels, both with carbon capture technology.
“We have signed an agreement to purchase an additional 324 acres adjacent to our existing 126 acre site. This will allow us to implement potentially all four process components: solar power, production of hydrogen, clean transportation fuels, and carbon capture.”
“Our potential footprint of 450 acres allows expansion of our projects to include more hydrogen production, common rail and truck facilities and a solar complex with carbon capture.
“We are also announcing today, the commencement of our detailed engineering study with Polaris Engineering with its proprietary ‘UltraFuels® 2 Plus process’ to utilise the light crude oil and condensates from the Permian Basin to produce finished products of ultra-low sulphur diesel, gasoline, and IMO 2020 compliant marine fuel oil along with carbon capture from all major CO2 sources.
“The detailed engineering study is the first step leading to our potential financing.”
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