Vertex Energy

What Vertex Energy does

Vertex Energy is a Houston, Texas-based specialty refiner and environmental services company, founded in 2001 and publicly traded on NASDAQ under the ticker VTNR. The company operates a vertically integrated Gulf Coast platform that collects used motor oil and hydrocarbon waste and converts it into re-refined Group III base oils and other refined products. Its customer base consists primarily of industrial lubricant manufacturers and blenders, marine and over-the-road fuel buyers, and feedstock purchasers for downstream chemical applications.

The company's core technology is the Thermal Catalytic Extraction Process (TCEP), licensed from Baker Hughes, which enables the conversion of waste lubricants into high-quality Group III base oils marketed under the VTX-R4 and VTX-R6 brands. Vertex also produces conventional refined products including gasoline, jet fuel, ULSD, and HVGO. Its asset base includes a refinery in Mobile, Alabama (acquired in 2022), a processing facility in Marrero, Louisiana, the Cedar Marine Terminals deep-water terminal, and the Black Oil Logistics used-oil collection network. The Mobile facility's deep-water access provides direct export capability into international markets, including sustainability-premium European buyers served under ISCC PLUS certification.

Vertex's revenue model is volume-driven commodity refining: the company generates revenue by converting low-cost used motor oil feedstock into higher-value refined products, with margins driven by crack spreads, base oil premiums, and feedstock acquisition costs. Revenue grew dramatically from approximately $208 million in 2021 to approximately $2.79 billion in 2022 following the Mobile refinery acquisition, and approximately $3.18 billion in 2023. However, profitability has been volatile — 2022 EBITDA of approximately $65.7M gave way to approximately $2.5M in 2023 amid refining margin pressure, prompting a convertible notes exchange in June 2023. The company announced a 6,000 bpd Group III base oil expansion in June 2026, with targeted production in 2029, intended to position Vertex as the largest re-refined Group III producer in North America.

Name

Vertex Energy

Legal name

Vertex Energy, Inc.

Website

https://vertexenergy.com

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

51–100 employees

Short description

Vertex Energy is a Houston-based specialty refiner that converts used motor oil into Group III base oils (VTX-R4, VTX-R6) and refined fuels. It serves lubricant manufacturers, blenders, and fuel markets via integrated Gulf Coast assets including the Mobile, Alabama refinery and Marrero, Louisiana processing facility.

Ownership category

akta.pro rank

Product category

Specialty Petroleum Refining

NAICS

Petroleum Refineries (32411), All Other Petroleum and Coal Products Manufacturing (324199), Petrochemical Manufacturing (32511)

SIC

Petroleum Refining (2911), Industrial Organic Chemicals (2860), Miscellaneous Products Of Petroleum & Coal (2990)

akta.pro primary industry

Conversion Refineries (FCC/Hydrocracking/Coking) (EUALAGAB)

akta.pro secondary industries

Gas Processing & NGL Recovery (Dehydration, Sweetening, Cryogenic Recovery) (EUALAGAG), Refinery Blending & Product Quality Control (Gasoline/Diesel/Jet Blending, Additives) (EUALAGAJ), Specialty Carbon & Pitch Products (Petroleum Pitch, Carbon Binders for Anodes) (EUALAKAK)

Keywords

• Used motor oil recycling
• Group III base oils
• Refined petroleum products
• Vacuum gas oil production
• Gulf Coast refining

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Refined Fuels and Products Sales: Vertex generates revenue from selling conventional fuels (gasoline, jet fuel, diesel) and specialty refined products produced at its Mobile, Alabama refinery, supported by integrated Gulf Coast logistics.
2. Group III Base Oil Sales: Revenue from selling VTX-R Series Group III re-refined base oils and planned conventional Group III production to lubricant manufacturers and blenders, supporting domestic and international demand.
3. Used Motor Oil Collection Services: Vertex collects and processes used motor oil through its H&H Oil subsidiary, providing collection services to automotive shops, garages, and industrial customers while sourcing feedstock for its refining operations.
4. Black Oil Logistics and Feedstock Management: The Black Oil Logistics Division provides outsourced feedstock management for large consumers of used motor oil, finding appropriate quantities at competitive prices and managing logistics for delivery to customer facilities.
5. Vacuum Gas Oil and Intermediate Products: Vertex produces vacuum gas oil (VGO) from used motor oil at its Marrero facility, which is utilized as feedstock for Group III re-refining operations and sold to other processors.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Vertex Energy is a specialty refining company that operates an integrated platform for collecting used motor oil, processing it into vacuum gas oil (VGO) at its Marrero, Louisiana facility, and re-refining it at its Mobile, Alabama refinery to produce Group III re-refined base oils (VTX-R4, VTX-R6) and conventional fuels including gasoline, jet fuel, ultra-low sulfur diesel, and hydrocracked vacuum gas oil. The company sells these refined products to lubricant manufacturers, blenders, transportation fuel buyers, and marine/industrial customers through its Gulf Coast logistics network.

Product overview

Vertex Energy is a specialty refining company that operates an integrated platform covering used motor oil collection, processing, and re-refining into high-purity refined products. The company's product portfolio centers on its VTX-R Series of Group III re-refined base oils (VTX-R4 and VTX-R6) for lubricant manufacturers, complemented by conventional refined products including gasoline, jet fuel, ultra-low sulfur diesel, and hydrocracked vacuum gas oil produced at its Mobile, Alabama refinery. The company also produces vacuum gas oil from used motor oil at its Marrero, Louisiana facility. Operations are supported by integrated Gulf Coast logistics, terminaling in Mobile and Cincinnati, and collection services through subsidiary H&H Oil.

Differentiator

Problem solved

Functional benefit

Brands

• VTX-R Series: Group III re-refined base oils (VTX-R4, VTX-R6) produced in the United States at Mobile, Alabama refinery, designed for modern lubricant formulations including passenger car motor oils, heavy-duty engine oils, transmission fluids, gear oils, and industrial lubricants.
• H&H Oil

Products and services

• VTX-R Series Group III Re-Refined Base Oils Family of Group III re-refined base oils (VTX-R4 and VTX-R6) engineered for modern lubricant formulations, delivering low volatility and strong performance characteristics for high-performance engine oils and industrial lubricants. Produced domestically at Mobile, Alabama refinery for lubricant manufacturers and blenders.
• VTX-R4 4 cSt Group III re-refined base oil engineered for modern lubricant formulations, delivering low volatility, strong performance characteristics, and stability required for high-performance engine and industrial oils.
• VTX-R6 6 cSt Group III re-refined base oil engineered for modern lubricant formulations, delivering low volatility, strong performance characteristics, and stability required for high-performance engine and industrial oils.
• Conventional Gasoline High-quality gasoline blendstocks meeting industry specifications, available for bulk supply or direct loading through the Mobile, Alabama truck rack for fuel distributors and bulk buyers.
• Jet Fuel (Jet A) Aviation turbine fuel produced to meet ASTM specifications, supporting regional distributors and commercial aviation customers.
• Ultra-Low Sulfur Diesel (ULSD) On-road and off-road ULSD meeting all EPA sulfur standards, available via bulk sales or direct loading from the Mobile on-site truck rack.
• Hydrocracked Vacuum Gas Oil (HVGO) High-quality hydrocracked VGO suitable for FCC feed, hydrocracker feedstock, lubricant blending, cutter stock, and other downstream applications.
• Vacuum Gas Oil (VGO) VGO produced from used motor oil at the Marrero, Louisiana facility, utilized as feedstock for Group III re-refining operations in Mobile and sold to other processors.
• Marine Fuels Low-sulfur fuels for marine vessels supporting essential American industries such as transportation, shipping, manufacturing, and construction.
• H&H Oil Collection Services Collection of used motor oil and related co-products from thousands of locations across the Gulf Coast, including oil filters, absorbents, antifreeze, and industrial oils, performed through subsidiary H&H Oil's fleet of vacuum, pump, and specialized transport vehicles.
• Used Motor Oil Re-Refining Re-refining of used motor oil into premium quality domestic fuels and base oils, reducing carbon footprint and displacing crude oil refined products through Vertex's integrated Marrero-to-Mobile processing chain.
• Black Oil Logistics and Feedstock Management Outsourced feedstock management for large consumers of used motor oil, finding appropriate quantities at competitive prices and managing logistics for delivery to customer facilities.

Quantifiable outcome

• Over 30,000 gallons of distressed products processed annually
• +1 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered minor.

• Feeding the Gulf CoastminorOthers · 26 June 2024Vertex partnered with Feeding the Gulf Coast and Chickasaw Methodist Church to host a mobile food pantry event, distributing approximately 5,000 pounds of food to over 150 individuals in need in the Chickasaw, Saraland, and greater Mobile region.
• Chickasaw Methodist ChurchminorOthers · 26 June 2024Vertex partnered with Chickasaw Methodist Church to host the mobile food pantry event through Feeding the Gulf Coast, supporting the local community in the Chickasaw, Saraland, and greater Mobile region.
• Louisiana Department of Environmental Quality (LDEQ)minorOthers · 23 May 2024Vertex welcomed LDEQ Secretary Giacometto and staff to the Marrero Refinery for a facility tour and meeting with leadership team to discuss refinery operations and commitment to environmental stewardship and regulatory compliance.
• Baker HughesminorStrategic or Co-development Partner · 1 January 2010Vertex collaborated with Baker Hughes to develop a chemical injection system for neutralizing H2S gas during the Deepwater Horizon oil spill cleanup. They implemented a filtration process through TCEP conversion at Vertex's Baytown facility, safely and reliably processing oil recovered from disaster sites into marketable petroleum products.
• Make-A-Wish AlabamaminorOthersVertex partnered with Make-A-Wish Alabama to sponsor wishes for terminally ill children, bringing joy, hope, and unforgettable experiences to their lives as part of the company's commitment to community impact and social responsibility.

Scale indicators6 records

Recent moves9 records

Expansion highlights6 records

Emerging players

• Neste Oyj: Neste is a global leader in renewable and circular fuels and is expanding into renewable/sustainable base oils. It represents an emerging competitive and partnership benchmark for Vertex's circular base oil strategy, particularly as ISCC PLUS-certified re-refined products gain traction with lubricant customers.

Direct peers

• Heritage-Crystal Clean: Heritage-Crystal Clean operates one of the largest UMO collection and re-refining networks in North America, directly competing with Vertex's H&H Oil collection arm and re-refining base oil output. Both companies sell into lubricant blenders and industrial customers, with overlapping Gulf Coast and Midwest footprints.
• Safety-Kleen (Clean Harbors): Safety-Kleen, owned by Clean Harbors, is the largest UMO collector in North America and operates re-refining assets, competing head-on with Vertex's integrated collection-to-base-oil platform. Both target industrial lubricant customers and rely on UMO feedstock economics.
• Calumet Specialty Products Partners: Calumet produces specialty base oils (including Group II and III), renewable fuels, and specialty hydrocarbons. It is a direct competitor in specialty base oils targeting lubricant blenders, with a comparable product portfolio to Vertex's VTX-R series.
• Ergon Inc. Ergon is a privately held specialty petroleum refiner producing Group II and Group III base oils, naphthenic oils, and asphalt products from refining and re-refining operations. It directly competes with Vertex in specialty base oils and Gulf Coast refined products.

Broad incumbents

• PBF Energy: PBF Energy is an independent refiner operating multiple U.S. refineries including Gulf Coast facilities. It competes with Vertex in conventional refined products, though PBF is much larger and not focused on re-refined base oils.
• Phillips 66: Phillips 66 operates large U.S. refineries and a lubricants/base oils business. It is a broad incumbent competing with Vertex in transportation fuels and Group III base oils, but with significantly broader product portfolio and global reach.
• Marathon Petroleum: Marathon Petroleum is the largest U.S. refiner with extensive Gulf Coast refining capacity. While not a direct specialty refiner, it competes with Vertex in conventional gasoline, jet fuel, and ULSD produced at Mobile-area facilities.
• HF Sinclair (HollyFrontier): HF Sinclair is a large integrated refiner that produces base oils, lubricants, and refined fuels across multiple U.S. refineries. It competes with Vertex in Group II/III base oils and conventional diesel/gasoline, but at substantially greater scale.
• Valero Energy: Valero is one of the largest independent refiners globally with extensive Gulf Coast operations producing gasoline, diesel, and jet fuel. It is a broad incumbent in the same commodity fuel markets where Vertex's Mobile refinery competes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/vertex-energy-inc-

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries6 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vertex Energy