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Verde Clean Fuels, Inc. Announces New CEO and Engagement of Financial Advisor to Evaluate Strategic Alternatives

  • George Burdette appointed as Chief Executive Officer & continues serving as Chief Financial Officer at Verde Clean Fuels, Inc. (NASDAQ: VGAS)
  • Burdette succeeds Ernie Miller as CEO, who steps down to pursue other opportunities & remains with the company as a senior advisor
  • Roth Capital Partners retained as financial advisor to evaluate strategic alternatives including potential merger, sale, or licensing of STG+ technology
  • The leadership changes & strategic review are part of ongoing restructuring & cost reduction initiatives
  • Burdette brings over 20 years of experience, having previously served as CFO at Arbor Renewable Gas, Itafos, & First Solar
  • The company has invested over $110 million in STG+ technology development since 2007, including a demonstration plant operating over 10,000 hours
  • No binding agreements have been reached & there is no assurance that any strategic transaction will be completed or a timeline established
  • The company does not intend to disclose further developments unless deemed appropriate or required by law