Verde Clean Fuels has secured an additional $50m investment from Cottonmouth Ventures, a wholly owned subsidiary of Diamondback Energy.
The investment consists of the purchase of 12.5 million shares of Verde’s Class A common stock at a purchase price of $4 per share.
Closing of the investment is anticipated to occur during Q1 2025, subject to satisfaction of customary closing conditions.
Upon closing, the investment would represent the second investment by Cottonmouth in Verde over the past two years, for a total investment of $70m, making Cottonmouth the second largest shareholder of Verde.
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