ExxonMobil, an American multinational oil and gas corporation, agreed to acquire a 25% stake in Global Clean Energy Holdings, a vertically integrated renewable fuels company, for $125m. "This strategic investment by ExxonMobil is transformational for GCE and will enable the rapid expansion of our proprietary camelina business. It also demonstrates the long-term commitment of both organizations to develop ultra-low carbon, nonfood-based feedstocks and advanced biofuels," Richard Palmer, Global Clean Energy Holdings CEO.