Vertex lands $9.5M in LCFS credits for Qs 3&4 2024

In Texas, Vertex said the company’s feedstock optimization strategy is progressing as expected. As previously communicated, the company expected to receive LCFS credits in the fourth quarter of 2023 for its renewable diesel production volumes produced in the third and fourth quarters of 2023. The initial LCFS credits reflect a temporary carbon intensity (“CI”) score and amounted to $9.5 million in the period. Upon receiving its provisional CI score, expected sometime in the first or second quarter of 2024, Vertex anticipates the per-barrel LCFS credits to improve materially over temporary CI values.