Brownfield Retrofits

Quicker to Market

Lower Capex

Exceptional returns

Reduced risk

Streamlined permitting

Commercialization Strategy

Leveraging a strategic partnership model, ReGen III is pursuing Group III commercial developments through both brownfield retrofit projects and greenfield projects.

ReGen III’s Retrofit Strategy: A Faster Path to Group III Base Oil Production
ReGen III’s proprietary ReGen™ process integrates into existing re-refineries, creating efficient “plug and play” retrofit opportunities that accelerate the path to domestic Group III base oil production.

Retrofit Highlights

• Quicker to market. Retrofit projects reach production in approximately 18 months, roughly half the timeline of a new greenfield facility
• Lower capital requirements. Each retrofit requires $50M–$100M, compared to $400M+ for a greenfield build, enabling multiple simultaneous projects
• Exceptional returns. Illustrative EBITDA returns on invested capital range from 65% to over 130%, with compelling economics even at long-term average pricing
• Reduced risk. A portfolio of smaller facilities across multiple regions distributes execution risk and builds broader supply infrastructure
• Streamlined permitting. Existing permitted facilities mean a materially faster regulatory path

A capital program of $200–300M can fund three to six concurrent brownfield upgrades, producing aggregate Group III output that approaches or exceeds a single greenfield facility — building domestic supply faster, with less risk.

Texas City Project

Flagship project

Large scale

De-risked

Strategic location

World-class partners

Greenfield Overview

ReGen III is advancing a 5,600 barrels-per-day greenfield project in Texas City, TX, that positions the Company as North America’s largest Group III re-refiner and the continent’s second-largest producer of Group III base oils.

Highlights

• Located in Texas City, Texas, USA, in the Greater Houston area
• Close proximity to UMO feedstock
• Excellent logistics connectivity to customers – including highway, rail, barge and deep-water access
• Access to all major utilities, including off-site water treatment to reduce infrastructure footprint and capital costs
• Front-End Engineering and Design advanced with Class III cost estimate prepared
• Investment financing underway through Export Development Canada (EDC) and the United States Department of Energy (DOE) Loan Programs Office (LPO)