Global Clean Energy Holdings, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 16, 2022 at 08:00 pm
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Global Clean Energy Holdings, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported net loss was USD 17.16 million compared to USD 8.22 million a year ago. Basic loss per share from continuing operations was USD 0.41 compared to USD 0.23 a year ago. Diluted loss per share from continuing operations was USD 0.41 compared to USD 0.23 a year ago.
Global Clean Energy Holdings, Inc. is a vertically integrated renewable fuels company. It specializes in the development and cultivation of camelina, a nonfood, regenerative, intermediate oilseed crop, which is used to produce advanced biofuels and biomaterials. Its farm-to-fuels value chain integration provides unrivaled access to reliable, ultra-low carbon feedstocks and is unparalleled in the sustainable fuel's industry. It has developed a portfolio of elite varieties of Camelina sativa to be used as a feedstock for its Renewable Fuels Facility. Its product includes Renewable Diesel, Biofuels Oil Feedstock and Biomass Feedstock. Renewable diesel is made from the same feedstocks as biodiesel. The feedstock oil is needed to produce renewable jet, biodiesel, renewable diesel and hydrotreated vegetable oil supplied from edible seed oils, including soy, canola, sunflower and palm. Camelina produces a co-product from the oil extraction process which is a non-transgenic high protein meal.