Camber Energy signs agreement to acquire renewable diesel facility in Nevada

Camber Energy has entered into a Membership Interest Purchase Agreement to acquire a 100% interest in companies that own and are in the process of bringing into commercial operations a processing plant designed to produce renewable diesel facility. The estimated production capacity of the Plant once operational is 43,000,000 gallons per year.

Renewable diesel fuel, sometimes called green diesel, is a biofuel that is chemically the same as petroleum diesel fuel and is produced through various thermochemical processes such as hydrotreating, gasification, and pyrolysis. Renewable diesel is made from renewable feedstocks instead of crude oil and is approx. 50%-55% less carbon-intensive than traditional petroleum diesel.

Camber's obligation to close the transaction is conditional on a number of items set out in the Membership Interest Purchase Agreement, and there is no guarantee the conditions will be satisfied.