Vivakor Reports 111% Revenue Growth to $59.3 Million Revenue for 2023 - Seite 2

In additional to the traditional facilities at The Port, Empire's flagship waste-to-energy pyrolysis plant, which is slated to come online in the second fiscal quarter of this year, is intended to provide behind-the-grid electrical power to The Port, while producing salable hydrochloric acid and excess gas. The plant is designed to recycle 70 tons of plastics per day through a pyrolysis process that employs high heat in the absence of oxygen, is environmentally friendly and virtually emission free. Additionally, the U.S. Department of Energy's (DOE) Office of Clean Energy Demonstrations (OCED) has selected the Appalachian Regional Clean Hydrogen Hub (ARCH2) as a recipient of up to $925 million in funding to advance the development of hydrogen projects throughout West Virginia, as well as parts of eastern Ohio and western Pennsylvania. Empire was selected from over 80 initial applicants and is slated to receive a portion of these funds to assist in the engineering and buildout of an anaerobic digester project at The Port as part of the ARCH2 project consortium. Our acquisition of Empire is scheduled to close on or before September 30, 2024, but certain closing conditions must be met by all parties in order for the transaction to close.

March 25, 2024

Signed Definitive Agreement to Acquire Endeavor Entities for $120 Million

The Endeavor Entities operate in the midstream segment of the oil industry, which targets oil logistics, gathering and storage, including crude oil and produced water trucking and disposal services, and also operate a crude oil pipeline gathering system and pipeline injection stations. Vivakor expects to benefit from the possible synergies these acquisitions will create. In addition, each of the material businesses have 10-year take or pay contracts with White Claw Crude, LLC, an affiliate of Jorgan, which began on January 1, 2024, that provide minimum revenue levels. In the crude oil and produced water trucking business, the Endeavor Crude, LLC contract with White Claw Crude, LLC guarantees a volume of 75,000 barrels of crude oil be transported each day. The pipeline gathering contract with CPE MidCon, LLC guarantees a minimum pipeline throughput revenue of $200,000 per month. Regarding the possible acquisition of Silver Fuels Processing (SFP) injection stations, minimum contract guarantees call for 200,000 barrels per month of throughput at $0.275 per barrel. Additionally, SFP is in the process of constructing a new station located in the Permian Basin that is expected add an additional 30,000 barrels per month for a new minimum of 230,000 barrels per month. The Endeavor entities are controlled by our Chief Executive Officer. Our acquisition of the Endeavor Entities is scheduled to close on or before June 30, 2024, but certain closing conditions must be met by all parties in order for the transaction to close.