Vertex Energy Emerges from Bankruptcy, Focuses on Stability and Growth

Vertex Energy, Inc. (VTNR), a leading specialty refiner and marketer of high-quality refined products, has successfully emerged from Chapter 11 bankruptcy with a renewed focus on stability and growth. The company's financial restructuring has resulted in a significantly improved balance sheet and a commitment of up to $100 million in exit financing, including $40 million in initial borrowings upon emergence. This strong financial position will enable Vertex Energy to optimize the value of its assets and drive long-term profitable growth.



As part of its emergence from bankruptcy, Vertex Energy has appointed Mark Smith as its new Chief Executive Officer. Smith brings over 40 years of executive leadership and management experience in refining and related businesses, having previously served as the Chief Executive Officer of Philadelphia Energy Solutions Inc. and the President of Western Refining, Inc. His extensive industry knowledge and operational expertise will be invaluable in guiding Vertex Energy through its new era of growth and operational excellence.

The company has also established a new five-member Board of Directors, with Eugene Davis serving as Chairman. The Board is comprised of directors with significant industry and financial leadership experience, ensuring that Vertex Energy is well-positioned to execute on its strategy and drive long-term success.

Vertex Energy's emergence from bankruptcy comes at a critical juncture in the energy industry, as the demand for high-quality refined products continues to grow. The company's commitment to producing superior products and services, while prioritizing sustainability, safety, and operational excellence, positions it well to capitalize on market opportunities in the specialty refining and marketing sector.



In conclusion, Vertex Energy's emergence from bankruptcy with a strengthened balance sheet and new ownership, coupled with the appointment of Mark Smith as CEO and a new Board of Directors, sets the stage for the company to drive growth and operational excellence. With a renewed focus on stability and a commitment to producing high-quality refined products, Vertex Energy is well-positioned to capitalize on market opportunities and create value for its stakeholders in the years to come.