Diamondback Energy completed a $20m investment in Verde Clean Fuels.

Diamondback Energy, an independent oil and natural gas company, completed a $20m investment in Verde Clean Fuels, a company focused on becoming supplier of gasoline and other fuels derived from renewable feedstocks or natural gas. “Diamondback is excited to announce our equity investment in and partnership with Verde, which is our largest investment to date out of our new ventures subsidiary, Cottonmouth. We are also looking forward to expanding the Verde business into the Permian Basin with their proprietary STG+® technology. This investment, and the technology that accompanies it, fits with our strategy to decarbonize the oil field while generating an economic return for our investors,” Kaes Van’t Hof, Diamondback President.