Founder, BWS Financial Inc

Hamed Khorsand

Founder

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BWS Financial Inc

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Equity Bottom-Up

Global Clean Energy Holdings / Equity Bottom-Up

<ul>
<li>GCEH has experienced another set of delays with the construction of their Bakersfield, California refinery. The Company has been pushing out the timing of when the refinery would come online</li>
<li>We believe the setbacks are temporary and could stem from GCEH changing engineering firms midway through the project</li>
<li>We have updated our earnings model and removed the refinery from generating any revenue until 2023</li>
</ul>


GCEH has experienced another set of delays with the construction of their Bakersfield, California refinery. The Company has been pushing out the timing of when the refinery would come online
We believe the setbacks are temporary and could stem from GCEH changing engineering firms midway through the project
We have updated our earnings model and removed the refinery from generating any revenue until 2023


<ul>
<li>We are initiating coverage of Global Clean Energy Holdings (GCEH) with a Buy Rating and $7.55 target.</li>
<li>GCEH is in the final stages of turning a crude oil refinery into a renewable fuel refinery utilizing camelina as its primary feedstock.</li>
<li>GCEH has also obtained a product offtake and purchase agreement with Exxon Mobil (XOM) for nearly all of the production from its under-construction refinery, scheduled for commercial production in 2022</li>
</ul>


We are initiating coverage of Global Clean Energy Holdings (GCEH) with a Buy Rating and $7.55 target.
GCEH is in the final stages of turning a crude oil refinery into a renewable fuel refinery utilizing camelina as its primary feedstock.
GCEH has also obtained a product offtake and purchase agreement with Exxon Mobil (XOM) for nearly all of the production from its under-construction refinery, scheduled for commercial production in 2022


United States

Global Clean Energy Holdings, Inc. operates as an integrated biofuels company. The Company develops, grows, processes, refines, and distributes renewable diesel that help reduce greenhouse gas emissions. Global Clean Energy Holdings serves clients worldwide.

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Global Clean Energy Holdings (GCEH US)

GCEH: Timeline Pushed Back Again

GCEH has pushed out its timeline for the refinery in Bakersfield coming online once again. This could have to do with temperatures staying above...

BWS Financial Inc

GCEH: Almost Online, Initiating with Buy

GCEH is a vertically integrated renewable diesel producer expected to have its refinery online by the middle of 2022. It's patented camelina seed...

BWS Financial Inc

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