FOR IMMEDIATE RELEASE
September 25, 2024
CLEAN REFINERIES INC. ANNOUNCES STRATEGIC PARTNERSHIP TO BRING NET-ZERO EMISSIONS TECHNOLOGY TO PERMIAN BASIN
Edmond, OK – In a bold move to accelerate the introduction of its proprietary Net-Zero Emissions Technology (NZET) to the Permian Basin, Clean Refineries, Inc. (CRI) has announced a strategic partnership with Midland-based Permian Energy Partners, LLC. This collaboration will facilitate the early planning and construction of one or more hydrocarbon processing plants in the Permian Basin, addressing a critical need in the underserved market while creating environmentally responsible solutions and generating high-quality jobs.
"Our time has come to introduce to domestic and international markets a better way to process crude oil. Our closed-loop NZET process will not only supply energy markets but do so with net-zero emissions," said Derek Williamson, CEO of Clean Refineries, Inc. "We are thrilled to partner with Permian Energy Partners, whose expertise in the Permian Basin oil and gas industry will be invaluable to our efforts. Together, we aim to establish some of the first commercial-scale NZET facilities in the U.S. This technology is set to revolutionize the hydrocarbon processing sector."
David Fowler, President of Permian Energy Partners, LLC, expressed his enthusiasm for the partnership, noting the significant potential for the Permian Basin: "We have developed a strong working relationship with CRI to bring this game-changing technology to the Permian. The positive impact of new, environmentally sound crude oil processing cannot be overstated—it’s not just good for the environment, but also for local communities and economies."
Fowler highlighted the region's need for additional processing capacity, explaining that "over six million barrels of oil are produced per day in the Permian Basin, yet local processing capacity remains insufficient, leading to increased transport and consumer costs. We are moving aggressively to change that, all while protecting the environment through NZET."
Site selection and land acquisition efforts are currently underway, with initial funding being raised for the project. The first facility is expected to come online by 2026-2027, with a capacity to process 20,000 barrels per day (BPD) and the potential for expansion to 100,000 BPD. This would mark the largest new refinery construction in the United States since 1977.
Media Contact:
David Fowler
Permian Energy Partners
Tel: (432) 242-5944
About Clean Refineries, Inc.
Clean Refineries, Inc. (CRI) pioneers advanced, patented hydrocarbon processing technology that delivers high-value products—such as asphalt, diesel, aviation fuel, and more—while achieving net-zero greenhouse gas emissions. This technology outperforms alternatives like hydrogen plants, requiring a smaller footprint, lower costs, and shorter construction times. With no direct competitors, Clean Refineries is at the forefront of efficient, cost-effective, and environmentally responsible hydrocarbon processing solutions.
For more information, visit www.cleanrefineries.com.
Comments