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Monday, October 18, 2021

Powerful Resurgence on MMEX (MMEX Resources Corporation) Solar Energy to Green Hydrogen at Pecos

MMEX (MMEX Resources Corporation) is making an explosive move up on billions of shares traded since a massive reversal last week. After many days of choppy waters MMEX is back in the driver’s seat making big gains and trading $6.5 million in dollar volume on Friday alone.  MMEX shareholders are looking for a return to previous highs and a powerhouse break over the $0.0249 mark signaling another massive leg up!  MMEX has been under heavy accumulation starting in December of last year as a new era of penny stock speculators fueled by robinhood and its 100 million new trading accounts take on the bulletin boards. These are different times than just a few short years ago; now penny stocks such as TSNP can achieve a $6 billion plus market valuation and trade $375 million in dollar volume in a day on the bulletin boards. And TSNP has no stronger fundamentals than MMEX does.   

In early February MMEX reported it intends to develop solar energy to power multiple planned projects producing hydrogen and ultra-low sulfur fuels combined with carbon dioxide (CO2) capture in Texas. MMEX entered preliminary understandings with third parties to develop potentially two separate technologies – one utilizing natural gas and the other using the Permian light crudes and condensates. The company is negotiating with a European co-developer partner to develop and finance a hydrogen and gas to liquids project at the MMEX Pecos County, Texas site. Additionally, MMEX is in discussions regarding a second parallel plant in Pecos County with a separate technology provider, Polaris Engineering with its proprietary “UltraFuels 2 process,” to utilize the light crude oil and condensates from the Permian Basin to produce finished products of ultra-low sulfur diesel, renewable diesel and gasoline. This puts MMEX at the right place at the right time as the demand for hydrogen has been increasing worldwide and renewable hydrogen companies are finally coming into the favor of investors with the adoption of hydrogen fuel technologies within an increased number of major industries and spanning many applications especially the massive electric vehicle market. An article in Barron’s by Steve Goldstein states that Goldman Sachs is bullish on   investment in Green Hydrogen. Goldman, according to the article, said that it is a “once in a lifetime” opportunity and that the addressable market could be worth $11.7 trillion by 2050.  

MMEX (MMEX Resources Corporation) operating out of Fort Stockton, Texas is focused on the exploration, extraction, refining and distribution of oil, gas, petroleum products and electric power projects in Texas, Peru, and other countries in Latin America. The Company has been developing new oil refinery in Pecos County in the West Texas Permian Basin sitting on 476-acres and situated 20 miles north-east of Fort Stockton, Texas is strategically located in close proximity to oil production in West Texas, with storage capability as well as the Texas Pacífico Railroad (TXPF) and multiple options exist to transport products.  The Company also has a subsidiary MMEX Solar Resources formed to generate solar power to the Pecos Refining & Transport, LLC 10,000 barrel-per-day (BPD) crude distillation unit. MMEX new mandate is “Midstream Refining Powered by Solar”. MMEX joins the growing number of super- major oil, gas and refining companies in using renewable energy within refinery and oil and gas production footprints.  

On February 8 MMEX announced it intends to develop solar energy to power multiple planned projects producing hydrogen and ultra-low sulfur fuels combined with carbon dioxide (CO2) capture in Texas. MMEX has entered preliminary understandings with third parties to develop potentially two separate technologies – one utilizing natural gas and the other using the Permian light crudes and condensates. The company is negotiating with a European co-developer partner to develop and finance a hydrogen and gas to liquids project at the MMEX Pecos County, Texas site to produce hydrogen, ultra-low sulfur diesel and gasoline with carbon capture and storage employing steam methane reformer technology with the abundant natural gas supplies in the immediate area as the feedstock. 

Additionally, MMEX is in discussions regarding a second parallel plant in Pecos County with a separate technology provider, Polaris Engineering with its proprietary “UltraFuels 2 process,” to utilize the light crude oil and condensates from the Permian Basin to produce finished products of ultra-low sulfur diesel, renewable diesel and gasoline.” 

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Jack W. Hanks, President and CEO of MMEX Resources Corp addressed the MMEX commitment to ESG, “While the Solar, hydrogen components and clean fuels firmly plant the Environmental “E” in our ESG program, we also are pleased to announce our Social and Governance programs to be employed. Each special purpose project company will have the local/regional economic development corporation with a financial interest along with the typical local tax abatement funds to be reinvested in local economic development. In addition, each special project company will be governed with diverse independent board representation from the community.” 

Mr. Hanks further stated: “We are announcing today a modified business plan moving MMEX to clean energy use and production. The company plans to contribute to the clean energy solution by providing solar power to produce hydrogen with carbon capture, and for the transition to the hydrogen economy by producing hydrogen along with ultra-low sulfur transportation fuels in the interim. We are planning multiple solar generation projects in our West Texas environs serving multiple locations in Texas,” continued Hanks “As previously announced, we formed MMEX Solar Resources, LLC in 2018 to develop a solar power project to supply potentially solar power renewable energy to our planned refinery projects. We are now modifying our planned refinery projects to produce potentially hydrogen, ultra-low s sulfur fuel products combined with CO2 capture. In addition, we have entered preliminary discussions to lease or purchase additional acreage allowing us to develop additional megawatts of solar power for distribution in Texas. Preliminary discussions are underway also to acquire potentially additional hydrogen projects plant site locations in East Texas, Houston ship channel area and the Corpus Christi-Rockport area. If successful, these multiple solar and processing projects would greatly enhance the MMEX footprint as a first mover in an integrated clean energy space.” 

Gerry Obluda, Principal of Polaris Engineering added, “We are very excited to join with MMEX in this Clean Energy initiative; we at Polaris Engineering with our refining, processing experience and proprietary UltraFuels 2 technology, believe we can provide a significant contribution to producing cleaner transportation fuels.” 

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MMEX (MMEX Resources Corporation) is making an explosive move up on billions of shares traded since a massive reversal last week. After many days of choppy waters MMEX is back in the driver’s seat making big gains and trading $6.5 million in dollar volume on Friday alone.  MMEX shareholders are looking for a return to previous highs and a powerhouse break over the $0.0249 mark signaling another massive leg up!  MMEX has been under heavy accumulation starting in December of last year as a new era of penny stock speculators fueled by robinhood and its 100 million new trading accounts take on the bulletin boards. These are different times than just a few short years ago; now penny stocks such as TSNP can achieve a $6 billion plus market valuation and trade $375 million in dollar volume in a day on the bulletin boards. And TSNP has no stronger fundamentals than MMEX does. In early February MMEX reported it intends to develop solar energy to power multiple planned projects producing hydrogen and ultra-low sulfur fuels combined with carbon dioxide (CO2) capture in Texas. MMEX entered preliminary understandings with third parties to develop potentially two separate technologies – one utilizing natural gas and the other using the Permian light crudes and condensates. The company is negotiating with a European co-developer partner to develop and finance a hydrogen and gas to liquids project at the MMEX Pecos County, Texas site. Additionally, MMEX is in discussions regarding a second parallel plant in Pecos County with a separate technology provider, Polaris Engineering with its proprietary “UltraFuels 2 process,” to utilize the light crude oil and condensates from the Permian Basin to produce finished products of ultra-low sulfur diesel, renewable diesel and gasoline. This puts MMEX at the right place at the right time as the demand for hydrogen has been increasing worldwide and renewable hydrogen companies are finally coming into the favor of investors with the adoption of hydrogen fuel technologies within an increased number of major industries and spanning many applications especially the massive electric vehicle market. An article in Barron’s by Steve Goldstein states that Goldman Sachs is bullish on   investment in Green Hydrogen. Goldman, according to the article, said that it is a “once in a lifetime” opportunity and that the addressable market could be worth $11.7 trillion by 2050.   We will be updating on MMEX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MMEX.

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Disclosure: we hold no position in MMEX either long or short and we have not been compensated for this article.

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