Vertex Energy Inc. (NASDAQ: VTNR), an environmental services company that recycles industrial waste streams and off-specification commercial chemical products, announced Feb. 12 that its application to list its common stock on the NASDAQ Capital Market has been approved by the NASDAQ Stock Market, a unit of the NASDAQ OMX Group. Vertex Energy’s common stock is expected to begin trading on the NASDAQ Capital Market effective Feb. 13 under its current trading symbol “VTNR.” Vertex Energy’s common stock previously traded on the OTCBB market.
“Up-listing to the NASDAQ Capital Market is a major milestone for our company,” said Benjamin P. Cowart, CEO of Vertex Energy. “We believe a NASDAQ listing will provide us greater visibility in the marketplace, help to expand our shareholder base, provide us better liquidity and more efficiency in the trading of our common stock, and ultimately contribute to increased shareholder value. As we continue the integration of our recent acquisition of Vertex Holdings, we believe that this step confirms the company’s dedication to creating value in 2013 and beyond.”
Vertex Energy is a leading environmental services company that recycles industrial waste streams and off-specification commercial chemical products. Its primary focus is recycling used motor oil and other petroleum byproduct streams. The company purchases these streams from an established network of local and regional collectors and generators. It also manages the transport, storage and delivery of the aggregated feedstock and product streams to end users, and manages the re-refining of a portion of its aggregated petroleum streams in order to sell them as higher-value end products.
Vertex Energy sells its aggregated petroleum streams as feedstock to other re-refineries and fuel blenders or as replacement fuel for use in industrial burners. The re-refining of used motor oil that Vertex Energy manages takes place at the company’s facility, which uses a proprietary Thermal Chemical Extraction Process (TCEP) technology. Based in Houston, Texas, Vertex Energy also has offices in Georgia and California.