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ReGen III Corp. is a leading clean technology company specializing in recycling used motor oil into high-value Group III base oils. With proprietary ReGen™ technology, the company is paving the way for sustainable solutions, reducing CO2e emissions and creating environmentally friendly products. Recent updates include patent approvals in the US and India, trademark acceptance in the US, convertible debenture financing, and application to the U.S. Department of Energy Loan Programs Office.
ReGen III Corp. (TSXV: GIII) (OTCQB: ISRJF), a clean technology company focused on upcycling used motor oil into Group III base oils, has announced its decision to settle its semi-annual interest payment of $164,850 through the issuance of approximately 714,564 common shares at $0.2307 per share. The share issuance is subject to TSX Venture Exchange approval and will have a four-month hold period from the closing date.
ReGen III Corp. (TSXV: GIII) (OTCQB: ISRJF) (FSE: PN4) has announced executive changes effective immediately. Greg Clarkes has stepped down as CEO for personal reasons but will continue as Chairman of the Board. Mark Redcliffe, previously the President, has been appointed as the new CEO and President.
Clarkes founded ReGen III in 2017, securing patents and shifting the company's focus to high-value re-refining. He played a important role in obtaining FEL2 financing and negotiating a multi-year offtake agreement with bp Products North America. Under his leadership, the company developed its proprietary ReGen™ process, protected by 32 pending or awarded patents.
Redcliffe, who joined the company in 2018, has been instrumental in key successes including feedstock and offtake agreements, product certifications, and financial partnerships. The Board expressed confidence in Redcliffe's ability to lead the company and advance ongoing negotiations.
ReGen III Corp. (TSXV: GIII) (OTCQB: ISRJF) (FSE: PN4), a clean technology company specializing in upcycling used motor oil, has announced two significant updates. Firstly, the company's 2021 patent application to the Intellectual Property Office of Singapore (IPOS) for its ReGen™ process has been deemed eligible for grant, effective March 11, 2024. This brings ReGen III's total to 20 patents issued, accepted, or eligible for grant, with an additional 12 patents pending globally. Secondly, the company reported the resignation of Catherine Banat from its Board of Directors. These developments highlight ReGen III's ongoing efforts to strengthen its intellectual property portfolio and evolve its corporate governance structure.
ReGen III has advanced in its application for a U.S. Department of Energy (DOE) loan guarantee to fund its RG3 Texas Project.
The project, eligible as an Innovative Energy Project, aims to produce Group III base oils using its patented ReGen™ process. This DOE loan could cover up to 70% of the project's engineering and construction costs.
ReGen III's successful Part I application gathered data from consultants and financial advisors, and it met the DOE's stringent requirements. The proposed Texas facility is expected to produce 3,000 barrels per day of Group III base oils and reduce North American imports by 11%.
The project is also projected to cut CO2 emissions significantly, equivalent to 900,000 tonnes of CO2e annually.
However, the DOE's eligibility determination does not guarantee loan approval, which will depend on further review.
ReGen III Corp. has been invited to present at the Emerging Growth Conference to showcase its patented ReGen™ process that upcycles used motor oil into high-value Group III base oils. The presentation will cover the Company's overview, technological advantages, and growth initiatives on May 9, 2024. Investors and analysts are encouraged to attend the interactive session.
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