MMEX Resources Corp. Announces Chatsworth Securities as Financial Advisor for Clean Fuels Project

Rhea-AI Summary

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.

Positive

• Retention of Chatsworth Securities LLC as Financial Advisor for the Ultra Fuels Plus project.
• Completion of 80% of the UF2 process design, accelerating engineering efforts.
• Initiatives focused on achieving up to 95% reduction in overall emissions post carbon capture.

Negative

• MMEX has a history of operating losses, which may impact future growth.
• The company lacks consistent revenues, posing a significant risk to its business model.
• Dependence on significant financing to pursue its business plan.

FORT STOCKTON, TEXAS, Oct. 05, 2021 (GLOBE NEWSWIRE) -- MMEX Resources Corp. (OTCPK: MMEX), announced it has retained Chatsworth Securities LLC as Financial Advisor for its Ultra Fuels Plus clean energy carbon capture project. MMEX is a development-stage company focusing on planned green and blue hydrogen facilities and ultra-low sulfur fuel projects with carbon capture.

Jack W. Hanks, President and CEO of MMEX Resources Corp., said, “Today, we are pleased to have Chatsworth Securities LLC join our project team as an advisor for the Ultra Fuels project in Pecos County, Texas.  Today, we proudly announce that Chatsworth Securities LLC will serve as Financial Advisor for the development of one of the first clean fuels production facilities with carbon capture in the U.S. 

With our first round of financing closed on Jul. 20, 2021, we accelerated the Ultra Fuels 2 Plus project FEL-2 design and engineering which incorporates up to a 95% reduction in overall emissions after carbon capture. Polaris Engineering, our technology partner has now completed 80% of the UF2 process design, and we are accelerating the site-wide engineering design inclusive of carbon capture and on track to deliver lump sum turnkey pricing for the complete facility next month.

This builds on our previously announced plans on Feb. 8, 2021, and Mar. 24, 2021, moving MMEX towards clean fuels production to be integrated with the development of a Hydrogen hub (blue and green hydrogen) near the UF2 refinery site.

Ralph DiFiore, Senior Managing Director of Chatsworth Securities LLC, said “We are excited to be part of the team helping MMEX, a company that we believe will be a leader for the development of clean fuels facilities in the U.S.  We look forward to working closely with the MMEX team for the development of this important project.”

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About Chatsworth Securities LLC

Chatsworth Securities LLC is investment banking firm based in Greenwich CT with over 25 years’ experience providing a wide range of services to institutional clients. The principal areas of its business are advisory services and private capital raising for companies, alternative investment funds and real estate. It has served as financial advisor and raised capital for both domestic and international transactions, and has substantial experience in project financing for clean energy projects. 

About MMEX Resources Corp.

MMEX Resources Corporation (MMEX) is a development stage company formed to engage in energy industry infrastructure projects. Leveraging its management and business relationships from the traditional energy sector, MMEX is currently engaged in developing planned projects to produce potentially hydrogen and ultra-low sulfur fuel products combined with CO2 capture. MMEX is also engaged in the development of solar power for distribution to its planned projects. For more information about MMEX, visit www.mmexresources.com.

The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, which could cause our actual results to differ materially from those described in the forward-looking statements. These risks include but are not limited to the Company’s ability to continue as a going concern, our lack of revenues, general business conditions, the requirement to obtain significant financing to pursue our business plan, our history of operating losses and other risks detailed from time to time in the Company's SEC reports. In particular, readers should note MMEX undertakes no obligation to update forward-looking statements.

 

FAQ

What is the Ultra Fuels Plus project by MMEX?

The Ultra Fuels Plus project by MMEX focuses on clean energy production with advanced carbon capture technology aimed at reducing emissions.

Who is serving as Financial Advisor for MMEX's Ultra Fuels project?

Chatsworth Securities LLC has been retained as the Financial Advisor for MMEX's Ultra Fuels project.

What recent progress has MMEX made in its Ultra Fuels project?

MMEX has achieved 80% completion of the UF2 process design and is accelerating its engineering efforts for the project.

When did MMEX close its first round of financing?

MMEX closed its first round of financing on July 20, 2021.

What risks does MMEX face in its business model?

MMEX faces risks related to a history of operating losses, lack of revenues, and the need for significant financing to advance its projects.