MMEX Resources Corp. Finalizes Disruptive Refining Technology Design

·3 min read

MMEX technology parter, Polaris Engineering, receives patent to produce ultra-low sulfur fuels with carbon capture

FORT STOCKTON, TEXAS, Dec. 08, 2021 (GLOBE NEWSWIRE) -- MMEX Resources Corp. (OTCPK: MMEX), a development-stage company focusing on planned hydrogen and clean fuel projects with carbon capture, announced it has completed milestones with its technology provider Polaris Engineering for its West Texas project.

Jack W. Hanks, President and CEO of MMEX Resources Corp., said, “Along with Polaris Engineering, we have now completed significant milestones on the technology timeline for our Ultra Fuels Plus project. Our front end engineering and design package is 90% completed which allows us to move forward with planned financing and commercial arrangements. Polaris Engineering has received its patent for the clean energy technology incorporating a 95% reduction in overall emissions after carbon capture. We are able to increase capacity beyond original targets by over 16% utilizing West Texas lighter crudes."

MMEX’s goal is for the UltraFuels Plus Project to be the first crude oil refining facility in the world to capture all of the CO2 emissions. This disruptive technology is a globally unique process to decarbonization. The carbon capture technology is provided by BASF through its OASE patented sytem.

As noted in MMEX’s July 29, 2021 announcement, we are able to expand the clean fuels product flexibility with the facility being slated to produce finished transportation grade ultra-low sulfur diesel; 87 Regular, 87 Clear, and 93 Premium grades of gasoline, readily available to our market on Interstate 10, the "transcontinental" highway traveling thru eight states from coast to coast. Our rail capacity allows us to reach western U.S. markets to take advantage of clean fuels mandates and price advantages.”

Gerry Obluda, Principal of Polaris Engineering, the technology provider and EPC of the UltraFuels Plus project added, “We now have achieved a significant milestone with the award of the patent for our process which we have worked on for the past four years. Polaris is able to deliver to MMEX the detailed engineering and project costing which will allow MMEX to move forward on its financing. We look forward to working with MMEX to provide the engineering, construction and O&M functions for this first of its kind refinery.”

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About MMEX Resources Corp.

MMEX Resources Corporation (MMEX) is a development stage company formed to engage in energy industry infrastructure projects. Leveraging its management and business relationships from the traditional energy sector, MMEX is currently engaged in developing planned projects to produce potentially hydrogen and ultra-low sulfur fuel products combined with CO2 capture. MMEX is also engaged in the development of solar power for distribution to its planned projects. For more information about MMEX, visit www.mmexresources.com.

About Polaris Engineering

Polaris Engineering is a full-service provider of engineering, procurement and construction for heavy industries around the world. Polaris Engineering has been operating for over 25 years in the Industrial Hub of Southwest Louisiana. Our company was founded and prospers by offering process engineering consulting and EPC services. We have built success by helping our clients find innovative and cost-effective process solutions to their operating and debottlenecking challenges. This process expertise is still a source of pride for our company today. www.polarisepc.com and www.getultrafuels.com.

CONTACT: Kristen Quinn Paige PR kristen@paigepr.com MMEX Investor Inquiries MMEX Resources Corporation info@mmexresources.com Ray Fontenot Polaris Engineering rfontenot@polarisepc.com


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