Vertex Energy, Inc. (OTCBB: VTNR), a leader in the aggregation, re-refining and processing of distressed petroleum streams such as used oil, transmix, fuel oils and off-specification commercial chemical products, today announced its expansion to aggregate and sell black oil from a new location in Mobile, AL. This location is anticipated to add approximately 20,000 barrels of oil per month to Vertex’s Black Oil Division. Benjamin P. Cowart, CEO of Vertex, stated, “The addition of our new location in Mobile dramatically increases the aggregation footprint of our Black Oil division. We anticipate this new location will allow us to handle an incremental 20,000 barrels of black oil per month through our network. We now have logistical hubs in Mobile as well as in Seabrook and Baytown, TX, giving us excellent coverage throughout the Gulf Coast region. In the near term, this location will assist us in aggregating additional black oil for sale and for internal processing at our state–of-the-art Thermal-Chemical Extraction Process facility in Texas. As we continue to expand, Mobile will serve as a strategic long-term location for us because of its access to major metropolitan areas east of the Mississippi River. By having a logistics hub east of the Mississippi River we can more easily source black oil from these additional markets at a lower cost, allowing us to better serve our customers and suppliers in the eastern U.S. This location represents a first step towards our goal of expanding the company’s processing capacity outside of Texas while providing improved access to new markets for our finished products.” Vertex Energy’s Black Oil Division operates as an outsourced feedstock manager for large consumers of used motor oil (or “black oil”) by finding the appropriate quantities of black oil at the best prices on a reliable basis and managing the logistics of having the necessary quality and quantity of black oil delivered to the customers’ facilities in a timely manner.
About Vertex Energy, Inc.Vertex Energy, Inc. (OTCBB: VTNR) is a leader in the aggregation, re-refining and processing of distressed petroleum streams such as used oil, transmix, fuel oils and off-specification commercial chemical products thereby reducing the United States’ reliance on foreign crude oil. Vertex’s focus, as a participant in the alternative energy and environmentally friendly investment sectors, is on creating increased value in the products it manages and produces through a variety of strategies and technologies that facilitate the re-refining of used oil and off specification commercial chemical products into higher value commodities. By creating higher value products from distressed hydrocarbon streams, the Company is positioned to produce both financial and environmental benefits. Vertex is based in Houston, Texas with offices in Georgia and California. More information on the Company can be found at www.vertexenergy.com. This press release may contain forward-looking statements, including information about management’s view of Vertex’s future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Vertex, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Vertex files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Vertex’s future results. The forward-looking statements included in this press release are made only as of the date hereof. Vertex cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Vertex undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Vertex.