Home Financial Markets Penny Stocks MMEX Resources (MMEX) Stock Shot Up In The Last Session. The Reason?

MMEX Resources (MMEX) Stock Shot Up In The Last Session. The Reason?

The MMEX Resources Corp. (OTCPink: MEX) stock realized a 61.54% rise in value Wednesday after closing the session at $0.0021.

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During the session, MMEX Resources stock more than 5 billion of its shares trading, exceeding its average daily volume of 1.14 billion shares. In addition, MMEX shares traded in a range of $0.0012 to $0.0025 on the day. MMEX currently has a market capitalization of $63.75M. Following news of signing an agreement to capture carbon for its green efforts, MMEX stock surged.


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MMEX progressing towards its green goals:

MMEX Resources is a development stage company specializing in oil, gas, petroleum products, and electrical power exploration, extraction, refining, and distribution. MMEX activities include investing in crude oil, natural gas, and refining projects located in Texas and Latin American by acquiring, developing, or financing such projects.

The announcement was made yesterday that MMEX Resources has signed a project agreement on its existing Pecos County site for the construction of a hydrogen plant with carbon capture.

Jack W. Hanks, President, and CEO of MMEX Resources Corp., said that:

  • MMEX intends to move to clean energy production and use to modify its business plan.
  • With those efforts, MMEX was negotiating to create and finance a hydrogen-powered project with a European co-developer partner to avoid greenhouse gas emissions.
  • The discussions were about the MMEX Pecos County facility, where steam methane reformers will be employed with abundant natural gas supplies as feedstock.
  • MMEX has signed that Project Agreement with its European partner, Black Tree Energy Group as well as SCM and their US-based SPAC, V Engineering & Consulting, LLC.
  • MMEX continues to pursue the acquisition of potentially new locations for hydrogen projects, including the Corpus Christi-Rockport area and the Houston Ship Channel area, as well as others in East Texas.

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Commitment to green initiatives:

Though such projects require considerable financial resources, along with the necessary licenses and permits, MMEX Resources (MMEX) is now ready to move ahead in full steam, said Hanks while the re-confirming the commitment of MMEX to ESG.

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