Mr. Greg Clarkes reports
REGEN III GRANTS OPTIONS
ReGen III Corp. has issued two million stock options to certain directors of the company, at an exercise price of 77 cents per option, valid for a period of five years from the date of grant. The options vest 90 days from the date of grant. The options granted replace options that expired unexercised on Feb. 2, 2023.
About ReGen III Corp.
ReGen III is a cleantech company commercializing disruptive, patented technology to recycle used motor oil (UMO) into high-value group III base oils. With a focus on creating sustainable solutions that generate better environmental outcomes and compelling economics, the company's ReGen process is expected to reduce CO2e (carbon dioxide equivalent) emissions by 82 per cent as compared with virgin crude derived base oils combusted at end of life.
In 2021, ReGen III signed a definitive offtake agreement with bp to purchase 100 per cent of the sustainable base oils produced at the company's proposed 5,600-barrel-per-day-UMO Texas recycling facility. In 2022, ReGen III completed FEL2 for the proposed facility, where world-class engineering, construction and licensed vendor teams -- including Koch Project Solutions LLC, PCL Industrial Management Ltd., Koch Modular Process Systems and Duke Technologies -- are providing detailed design, construction, commissioning and start-up services.
Operating in an underserved segment of the base oil market, ReGen III aims to become the world's largest producer of sustainable group III base oil.
We seek Safe Harbor.
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