Verde Clean Fuels, Inc. Reports Q4 and Full-Year 2025 Results: Strategic Review Underway, Major Cash Balance, and Project Impairment

HOUSTON, March 27, 2026 — Verde Clean Fuels, Inc. (NASDAQ: VGAS) released its financial results for the fourth quarter and fiscal year ended December 31, 2025. The company also provided updates on its revised business strategy, project impairments, and ongoing review of strategic alternatives, all of which may have significant implications for shareholders and the company’s future trajectory.

Key Financial Highlights

• Cash Position: Ended 2025 with a robust \$57.2 million in cash and cash equivalents, a substantial increase from \$19.0 million at the end of 2024. The company reported no debt as of year-end 2025.
• Net Loss: Reported a Q4 2025 net loss of \$(6.6) million and a full-year 2025 net loss of \$(14.1) million.
• Earnings Per Share (EPS): Diluted net loss per share of Class A common stock was \$(0.17) for Q4 2025 and \$(0.39) for the full year.
• Impairment Charge: Incurred a one-time, non-cash impairment charge of \$3.9 million related to the Permian Basin project, which was suspended in February 2026.
• General and Administrative Expenses: G&A expenses remained high at \$11.9 million for 2025, up from \$11.2 million in 2024.
• R&D Spending: Research and development expenses totaled \$591,000 in 2025, up from \$451,000 in 2024.

Strategic Developments & Shareholder-Relevant Updates

• Strategic Review Underway: CEO George Burdette stated that the company is actively evaluating strategic alternatives, including a potential sale or merger. This process could result in significant changes to the company’s direction and ownership structure, making it highly relevant for shareholders and potentially price sensitive.
• Project Suspension: Verde suspended its Permian Basin project in February 2026, prompting the \$3.9 million impairment. This may signal a shift in capital allocation or operational focus.
• No Debt: The company’s debt-free status enhances financial flexibility during its strategic review process.
• Share Issuance: The number of Class A shares outstanding more than doubled year-over-year, from 9,549,621 at end-2024 to 22,049,621 at end-2025, potentially diluting existing shareholders but also indicating successful capital raising to strengthen the balance sheet.

Business Overview & Technology Update

Verde Clean Fuels owns a proprietary gas-to-liquids (GTL) processing technology, STG+®, which converts low-value or stranded feedstocks—including natural gas and biomass—into high-value, fully finished liquid transportation fuels. The technology is engineered for industrial-scale deployment using standardized modular units. Since 2007, over \$110 million has been invested in STG+® development, including operation of a demonstration plant with over 10,000 hours of run time.

Balance Sheet Snapshot (as of December 31, 2025)

• Total Assets: \$60.2 million (up from \$23.6 million in 2024)
• Cash and Cash Equivalents: \$57.2 million
• Total Liabilities: \$2.1 million (down from \$2.9 million in 2024)
• Stockholders’ Equity: \$58.1 million (up from \$20.7 million in 2024)
• Accumulated Deficit: \$(34.2) million
• Noncontrolling Interest: \$28.3 million

Forward-Looking Statements and Risks

The company emphasized that it is subject to numerous risks and uncertainties, including:

• General economic, legal, regulatory, and political changes
• The ability to deploy and commercialize its technology
• The outcome and timing of any strategic transaction (sale or merger)
• Delays in project acquisition, financing, and development
• Other risks detailed in filings with the SEC

Potential Share Price Impacts

• The ongoing strategic review, including a possible sale or merger, is highly price sensitive and could result in significant movement in Verde’s share price depending on the outcome.
• The suspension of the Permian Basin project and related impairment may raise concerns about project execution and future capital allocation.
• The strong cash position and lack of debt may support the share price in the near term.
• Significant share issuance could lead to dilution for existing shareholders.

Contact and Additional Information

Investor Relations: Caldwell Bailey (ICR) [email protected]

SEC filings and more details are available on the SEC’s website at www.sec.gov.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should conduct their own due diligence and consult their financial advisors before making any investment decisions. All forward-looking statements are subject to risks and uncertainties, which may cause actual results to differ materially from those expressed or implied herein.

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