ExxonMobil Investment Sends Small Cap Soaring

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, February 8, 2022

A California-based small cap just announced that it received funding form ExxonMobil to advance its renewable diesel production as well as grow its proprietary camelina business in key farming regions. Shares of Global Clean Energy Holdings Inc. (OTCQX:GCEH) rallied strongly on the news.

Global Clean Energy Holdings Inc. is a United States-based energy agri-business focused on the development of ultra-low carbon non-food based feedstocks for renewable fuels and chemicals in the US, Mexico, and the Caribbean. The company's business activities include the plant science, planting, cultivation, harvesting, and processing of non-food based plants to generate seed oils and biomass for use in the biofuels industry, including the production of ultra-low carbon renewable-jet, biodiesel, renewable diesel, and HVO. As a co-product of its farming and production processes, the company also produces renewable naphtha, renewable propane, and renewable butane.

Traders were bullish on the news as shares reached a session high of $5.05/share (+18.54%) during Tuesday’s trade. This move appears to be the breakout this stock needed as current levels are above the multi-month downtrend this stock has been corralled by since November.

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