RE:50 M CAPEX REDUCTION COMING WITH A SMALL DELAYThanks Coralin.
The partnership with Oiltanking is indeed a very important step in de-risking the project, and it creates enormous opportunities in the future (Oiltanking owns and operates 45 terminals in 20 countries). GIII shares should be much higher now already based on the OT and BP partnerships. I think 5$ is a minimum after the financing of the USGC re-refining facility is ok.
Any idea when they will sign the LT ground lease?
https://www.tankstoragemag.com/2021/10/01/regen-iii-ready-to-proceed-with-re-refinery-at-oiltanking-galveston/
As one of the largest independent tank storage providers for gases, chemicals and petroleum products in the world, Oiltanking is successfully active in the engineering, procurement and construction of tank terminals. Our experienced team is working closely together with ReGen III on a tailor-made and cost-effective infrastructure solution for their re-refinery facility at our terminal in Texas City. We look forward to advancing the project as it will provide a much-needed domestic supply of base oils recycled from used motor oil thus, strengthening the circular economy; says Dan Withers, director, business development at Oiltanking.