In 2023, Vertimass expanded into the Europe, Middle East and North Africa (“EMEA”) region. The firm currently has a pending acquisition of Ekobenz, a Poland-based company that commercially produces high-quality renewable gasoline, LPG, and other fuels. The Ekobenz facility provides a large-scale platform on which Vertimass EMEA can build a near-term introduction of the Vertimass Consolidated Alcohol Deoxygenation and Oligomerization (CADO) process for sustainable aviation fuel (SAF) production. This acquisition was made in an effort to bolster the production of Vertimass’ biofuel technology beyond the United States and accelerate its commercialization.
Vertimass’ technology offers a simpler, one-step conversion process and does not require distillation, resulting in a lower CAPEX and higher efficiency.
The Vertimass EMEA goal is to ultimately provide significant volumes of sustainable aviation fuel that help both the United States and the European Union achieve 2035 climate change reduction goals.
Important Information – Risk Factors
An investment in Vertimass must be considered speculative. There are no guarantees of distributions or returns, and an investor may lose all or part of their investment. There are various risks related to an investment in Vertimass which are described in the Private Placement Memorandum. These risks include:
- Emerging Growth Company: The Company is an emerging growth company that is not yet profitable, is without significant operating history, and may experience significant losses for some time after the Offering.
- Expectations of Future Losses: The Company is not currently profitable.
- Failure to Achieve Targeted Raise: As discussed above, the Company is seeking to raise up to an additional $45 million for use as working capital through the Offering (the “Targeted Raise”). In the event the Company is unable to raise up to the Targeted Raise, it may not be able to fund its operations as it presently anticipates.
- Illiquid Investment: Members of the Company are not permitted to withdraw their investment from the Company and therefore may have to bear the economic risk of an investment in the Company for a substantial period of time.
- No Assurance of Additional Capital: The success of the Company depends upon receiving significant funding from the net proceeds of this Offering, as well as additional financing.
- No Assurance of Distributions: Members may not receive any cash distributions.
- No Role in Management: Members will be unable to exercise any management functions with respect to the Company. The rights and obligations of the Members are governed by the provisions of applicable Delaware law and by the Operating Agreement.
- Projections: Any projected financial results prepared by the Company have not been independently reviewed, analyzed, or otherwise passed upon. Such “forward looking” statements are based on various assumptions of the Company, which assumptions may prove to be incorrect. There can be no assurance that such projections, assumptions and statements will accurately predict future events or actual performance.
- Changes in Fuel Prices: In recent years, the price of ethanol has been less than the price of petroleum-based fuels, which increased demand for ethanol and other comparably priced alternative fuels. However, the price of ethanol and petroleum-based fuels can drastically change over time so it is difficult to predict how fuel prices will be in the future.