Vertex Energy, Inc. (NASDAQ:VTNR) was founded in 2001 and is headquartered in Houston, Texas, with 215 full-time employees. It is an environmental service company that provides a series of waste treatment services and focuses on 15 states (mainly It is engaged in the collection, processing and recycling of industrial and commercial waste in the Gulf Coast, Midwest and Mid-Atlantic areas of the United States.
Vertex Energy (VTNR):
Vertex Energy, Inc. is a professional refinery for marketers of alternative raw materials and high-purity petroleum products. Apex Energy is headquartered in Houston, Texas, and is one of the largest secondary cell phone oil processors in the United States with an annual processing capacity of more than 115 million gallons. Its operations are located in Houston and Port Arthur (Texas), Marrero (Louisiana) , Columbus (Ohio).
Vertex also owns a Myrtle Grove facility, located in a 41-acre industrial park on the Gulf Coast of Belle Chasse, Los Angeles, with existing hydroprocessing and factory infrastructure assets, including 9 million gallon storage facilities.
Vertex has implemented a cost-effective strategy to establish a supply of raw materials by establishing a successful self-collection and aggregation system. The company has become a major supplier of Group II+ and Group III base oils for the North American lubricant manufacturing industry.
Apex Energy is divided into 3 departments to operate : Black Oil (black oil, or heavy oil), Refining and Marketing (refining and marketing), Recovery (recovery).
- Black Oil-collects and purchases waste engine oil directly from third-party generators; collects engine oil from a network of local and regional collectors; and sells second-hand oil to users for use as raw material or alternative fuel for industrial burners. The division also produces and sells vacuum gas oil products to refineries and marine fuel markets; and base oil products to lubricant packers and distributors.
- Refining and Marketing-collect hydrocarbon streams in the form of petroleum fractions, mixtures and other chemical products from pipeline operators, refineries, chemical processing facilities and third-party suppliers; and to petroleum companies or petroleum trading and The blending company sells final products such as gasoline blending oil, pyrolysis gasoline and fuel cutting oil inventory.
- Recovery——Provide solutions for the recovery and management of hydrocarbon streams; and provide demolition, decommissioning and sea salvage services, as well as owning and operating a batch of trucks and other vehicles used to transport and process equipment and waste materials.
Vertex Energy (VTNR) History:
- 2001: Ben Cowart moved to Houston and established Vertex Energy as a supplier of mobile phone oil (“UMO”) to third parties along the Gulf Coast.
- 2004: Vertex established the Refining & Marketing Division to take full advantage of the company’s ability to source and manage waste hydrocarbon streams.
- 2008: The company developed its patented thermochemical extraction process (“TCEP”) as its first show in the UMO re-refining market.
- 2009: Vertex Energy merged with World Waste Technologies, Inc. to become a listed company (backdoor listing).
- 2012: Vertex agreed to acquire the assets and liabilities of Vertex Holdings, LP and B&S Cowart Family LP, including Cedar Marine Terminals, Crossroad Carriers, Vertex Recovery and H&H Oil.
- 2014: Vertex acquired several major assets of Omega Holdings Company, LLC, including the vacuum refining plant in Marrero, Los Angeles; Belle Chase, Louisiana, USA, preparing for future development; and Bakersfield, California Golden State Lubricant Mixing Facility.
- 2014: Vertex acquired Heartland Group Holdings, LLC, which mainly includes its waste oil collection business in the Midwest and a refining plant in Columbus, Ohio.
- 2015: The company completed a lease agreement in Churchill County, Nevada based on refining.