The Bakersfield biorefinery will process up to 15,000 barrels per day of renewable feedstocks, including
Global Clean Energys proprietary camelina. The balance of renewable diesel will be produced using various non-petroleum feedstocks, including used cooking oil, soybean oil, distillers corn oil and
other renewable sources.
The original agreement signed in August 2020 committed ExxonMobil to purchase 2.5 million barrels of renewable diesel per
year. Following production startup, ExxonMobil plans to distribute the renewable diesel within California and potentially other U.S. and international markets.
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About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the worlds growing energy
needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the
Energy Factor.
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About Global Clean Energy
Global Clean Energy Holdings
(OTCQB:GCEH) is a leading developer of sustainable, non-food energy crops for use in biofuels. GCEHs wholly owned subsidiary, Sustainable Oils, is the worlds leading developer of camelina, a
fast-growing, low input, dryland farmed rotation crop. As it is cultivated exclusively on unirrigated fallow land, camelina does not displace food or create indirect land use change. It also allows farmers to improve total farm economics through
better overall asset utilization.
Through a financing partnership with Orion Energy Partners, GCM Grosvenor and Voya Investment Management, Global Clean
Energy expanded into downstream production with the acquisition of the Bakersfield facility. Once production commences in early 2022, the Bakersfield biorefinery will be the only integrated farm-to-tank renewable diesel producer of its kind, processing both camelinaa proprietary non-food, ultra-low carbon
intensity and purpose-grown feedstockas well as traditional biofuel feedstocks such as plant oils and waste products. To learn more, visit gceholdings.com.
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Cautionary
Statement
Statements of future events, plans or product offerings in this release are forward-looking statements. Actual future results, including
product offerings, refinery start-up dates, delivery timing. available capacity, and the impact and results of new technologies on product efficiency and life-cycle emission reductions could vary depending on
the outcome of general business conditions; further research and testing; the development and competitiveness of alternative technologies; the ability to scale pilot projects on a cost-effective basis; political and regulatory mandates, incentives
and other developments; and other factors discussed in this release and under the heading Factors Affecting Future Results on the Investors page of ExxonMobils website at exxonmobil.com.