Verde Clean Fuels is a pre-revenue technology company that owns a proprietary process for converting syngas into finished liquid gasoline, called STG+®. The STG+® process passes syngas through four catalytic reactors in a continuous vapor-phase loop to produce RBOB gasoline that meets standard fuel specifications. Syngas can be derived from natural gas (including stranded or flared gas) or biomass, and the resulting gasoline is a drop-in fuel compatible with existing vehicles and fuel infrastructure. Verde originally planned to build and own commercial production plants, with a flagship project in the Permian Basin using stranded natural gas, but suspended that project in early 2026 due to unfavorable feedstock economics. Verde has since pivoted to a capital-lite model focused on licensing the STG+® technology and providing engineering and technical services to third parties who would build and operate plants themselves. Plants using biomass feedstocks could generate regulatory credits under the federal Renewable Fuel Standard and California's Low Carbon Fuel Standard, which Verde argues enhances the economics for potential licensees. Verde has engaged Roth Capital Partners to explore strategic options, which may include partnerships, licensing deals, or a sale. As of early 2026, Verde had just 9 employees and 3 contractors, was generating no revenue, and was targeting a roughly 50% reduction in operating costs to extend its cash runway while pursuing commercialization.