Global Clean Energy Holdings

About Global Clean Energy Holdings

Global Clean Energy Holdings, Inc. (GCEH), founded in 2007 by Richard Palmer, operates as a vertically integrated renewable fuels company. Palmer, who previously co-founded Mobius Risk Group and held a position at Enron Energy Services, guided the company for 17 years before retiring as CEO in February 2024. The company's core strategy revolves around controlling the entire supply chain, from agricultural science to the production and distribution of renewable fuels, a "farm-to-fuels" model.

The company's business is anchored in the development and cultivation of proprietary, non-food camelina sativa varieties. This oilseed crop is grown on fallow land, meaning it doesn't displace food crops. Through its subsidiary, Sustainable Oils, Inc., GCEH holds a significant intellectual property portfolio for camelina, including patents for seed varieties specifically bred for increased yield and resilience. The company contracts directly with farmers in states like Montana, Oregon, Washington, Idaho, Kansas, and Colorado to grow its camelina. In a move to expand its global footprint and scientific capabilities, GCEH acquired Camelina Company España, Europe's largest camelina innovator, in January 2022.

A pivotal moment for the company was the May 2020 acquisition of a dormant oil refinery in Bakersfield, California, for $40 million from a subsidiary of Delek US Holdings. GCEH has been retooling this facility to produce renewable diesel with a planned capacity of 210 million gallons per year. The renewable diesel produced is chemically identical to petroleum-based diesel but generates significantly lower lifecycle carbon emissions, with the camelina-based fuel expected to achieve a reduction of over 90%. The output from the Bakersfield refinery will help meet California's demand for low-carbon fuels and comply with the state's Low-Carbon Fuel Standard. The company has secured an offtake agreement with Vitol, Inc. for the sale of its renewable fuels.

While the company's primary feedstock is its proprietary camelina, it can also process other non-petroleum inputs like used cooking oil, soybean oil, and distillers' corn oil. The company has received a first-of-its-kind, feedstock-only pathway from the California Air Resources Board (CARB) for its camelina, a key regulatory approval. GCEH has also been awarded a USDA grant of up to $30 million to advance the use of camelina as a renewable fuel feedstock. Despite these milestones, the company filed for Chapter 11 bankruptcy protection in April 2025 as part of a restructuring plan to manage its debt.