MMEX RESOURCES CORP - MMEX STOCK NEWS

MMEX Resources Corp. announced that the U.S. Department of Energy has approved its Concept Paper for the Trans Permian H2Hub, allowing it to advance to the final application stage for governmental funding aimed at clean hydrogen infrastructure. This initiative aligns with the Biden Administration's carbon-free electric grid goals by 2035. The project, covering several Texas cities, aims to develop hydrogen production and related infrastructure, with expected DOE investments between $500 million and $1 billion for selected projects.

MMEX Resources Corp. (OTCPK: MMEX) has appointed Chatsworth Securities LLC as Financial Advisor for its energy transition projects in Pecos County, Texas, including the Trans Permian H2Hub filed with the Department of Energy. The company aims to develop green and blue hydrogen facilities and a clean production refinery. CEO Jack W. Hanks emphasized the significance of Chatsworth's expertise in financing clean energy projects. The collaboration aims to enhance hydrogen production potential in the U.S. and support exports of hydrogen derivatives.

MMEX Resources Corp. has announced its filing for funding from the U.S. Department of Energy (DOE) to develop a hydrogen hub in the Permian Basin. This initiative aligns with the Biden Administration's clean hydrogen goals, aiming to foster an investment of $8 billion for Regional Clean Hydrogen Hubs (H2Hubs). MMEX plans to facilitate multiple projects, including hydrogen production and refueling stations. The company is actively engaging local economic agencies and educational institutions to promote hydrogen technologies, with the goal of reducing CO2 emissions and supporting community development.

MMEX Resources Corp. has announced the enhancement of its hydrogen and ultra-clean fuel projects following the signing of the Inflation Reduction Act of 2022 by President Biden. This legislation provides significant tax credits for solar power, carbon capture, and hydrogen production, improving the financial outlook for MMEX's projects. Their initiatives include a solar-powered clean fuel refinery and a green hydrogen project utilizing Siemens Energy technology. MMEX aims to capitalize on its prime West Texas location for logistics, targeting both U.S. markets and exports to Asia.

MMEX and the Province of Tierra del Fuego announced plans for a green hydrogen project in Río Grande, with an aim to produce 55 tons of hydrogen powered by 160 MW of wind energy.

The project, supported by local government, seeks to facilitate exports to Europe and Asia, leveraging excellent wind conditions. An investment of approximately $500 million is projected, with potential for 1,500 construction jobs and 300 permanent positions. Siemens Energy will contribute via electrolysis technology, and agreements for technical data exchange have been signed to expedite project assessment.

MMEX Resources Corp. has made strides in its solar-powered hydrogen and ultra clean fuels projects in West Texas, acquiring an additional 632 acres, bringing total ownership to 1,082 acres. This strategic expansion allows for the potential development of 97 MW/dc of solar power. The company has also achieved significant milestones with its UltraClean Refinery project, receiving permit approval from the Texas Commission on Environmental Quality. The land's prime logistics position enhances marketing capabilities for refined products and green hydrogen, aiming for coast-to-coast distribution in the U.S. and export to Asia.

MMEX Resources Corp. has received certification from the Texas Commission on Environmental Quality for its Pecos County UltraClean Refinery, which will produce ultra-low sulfur fuels while implementing carbon capture technology. The refinery's production capacity has been increased from 10,000 to 11,600 barrels per day. With the completion of the front-end engineering and design phase, MMEX is positioned to move forward with financing and construction. This marks the first refinery project in the U.S. authorized under the Permit by Rule.

MMEX Resources Corp. announced significant advancements in partnership with Polaris Engineering, achieving major milestones for the Ultra Fuels Plus project. On December 8, 2021, MMEX revealed that Polaris has secured a patent for a process that enables a 95% reduction in emissions through carbon capture technology. The front-end engineering design is 90% complete, paving the way for financing and commercial agreements. The facility aims to be the first in the world to capture all CO2 emissions, producing ultra-low sulfur diesel and various gasoline grades, enhancing market capacity by over 16%.

MMEX Resources Corp. (OTCPK: MMEX) has retained Chatsworth Securities LLC as its Financial Advisor for the Ultra Fuels Plus clean energy carbon capture project. The Ultra Fuels project aims to significantly reduce emissions by incorporating advanced carbon capture technologies. Following successful financing on July 20, 2021, MMEX is progressing with its engineering design, achieving 80% completion of the UF2 process. The project will support the development of a hydrogen hub in Texas, positioning MMEX as a potential leader in clean fuels production in the U.S.