Red Leaf Resources

Name

Red Leaf Resources

Legal name

Red Leaf Resources, Inc.

Website

https://redleafinc.com

Company type

Private

Founded year

2006

Operating status

Acquired

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Energy Technology Services

NAICS

Oil and Gas Extraction (211), Petroleum and Coal Products Manufacturing (324)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Refuse-Derived Fuel (RDF) Production & Combustion (C&D/MSW-derived) (EUAAAKAB)

akta.pro secondary industry

Chemical Looping Combustion/Reforming (Oxygen Carrier-based Capture) (EUABAGAH)

Keywords

• Oil shale development
• Near-zero emissions fuels
• Pyrolysis technology licensing
• Oilfield carbon capture
• Rare earth co-production

Headquarters

HQ city

Salt Lake City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Oil Production - Utah: Red Leaf Resources plans to produce and sell blue oil (net-zero CO2 emissions oil) from its Utah oil shale operations. First commercial phase targets 12,500 barrels per day, expanding to 75,000 barrels per day. The company has achieved operating costs below $20 per barrel, enabling viability at oil prices as low as $35 per barrel.
2. Technology Licensing: Red Leaf licenses its proprietary HCCO technology to international partners. In Jordan, Questerre Energy Corporation holds licensing rights for the Isfir-Jafr project (8.6 billion barrels resource, 400,000 bbl/d potential). Licensees receive technology transfer, technical support, and access to proprietary processes for developing oil shale resources.
3. Rare Earth Elements: Red Leaf has discovered rare earth elements (REEs) interbedded with oil shale deposits, including 3,500 tons of REEs with 2,000 tons of heavy rare earths in-place. The company is developing extraction technologies for these strategically important materials essential for green energy technologies, electronics, and defense applications.
4. Refinery Operations: Through Uintah Partners division, Red Leaf plans to build a 40,000 barrel per day oil refinery in Utah's Uinta Basin to capture local market demand for diesel and gasoline. The refinery will leverage the unique properties of Uinta Basin crude for high-value lubricant production.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Red Leaf Resources develops and commercializes a proprietary HCCO® (Homogeneous Charged Continuous Oxidation) pyrolysis process that converts organic-rich ore — primarily oil shale — into liquid fuels with near-zero CO2 emissions. The process is energy and water self-sufficient, captures CO2 for sequestration or enhanced oil recovery, and is deployed both directly (Seep Ridge Utah project targeting 12,500 bbl/d expandable to 75,000 bbl/d) and through technology licensing to international partners (Sultani and Isfir-Jafr projects in Jordan, in partnership with Questerre Energy).

Product overview

Red Leaf Resources is an energy technology company offering a unified portfolio centered on its proprietary HCCO® (Homogeneous Charged Continuous Oxidation) process technology, developed through its Green Leaf Carbon Technologies division. The core offering is a near-zero emissions technology that converts organic-rich ores (primarily oil shale) into 'blue oil' (net-zero CO2 liquid fuels). The company operates across three divisions: the HCCO® technology division (Green Leaf Carbon Technologies), resource development (Seep Ridge Utah oil shale with co-produced rare earth elements), and infrastructure (Uintah Partners). The company also licenses its technology globally through licensee projects including the Sultani and Isfir-Jafr projects in Jordan. The architecture is a technology-platform approach where the proprietary HCCO® process enables all downstream product offerings (blue oil, REEs, and phosphate) from organic-rich ore resources.

Differentiator

Problem solved

Functional benefit

Brands

• HCCO (Homogeneous Charged Continuous Oxidation): Proprietary near-zero emissions technology for liquid fuels production from organic-rich sources
• Uintah Partners
• Seep Ridge

Products and services

• HCCO® Process Proprietary near-zero emissions pyrolysis technology for converting organic-rich ore (oil shale, coal) into liquid fuels. Energy and water self-sufficient; captures CO2 for sequestration or EOR; produces 'blue oil' (net-zero CO2).
• Seep Ridge Oil Shale Project (Utah) Direct oil shale development project producing 'blue oil' from Utah state leases; first commercial phase targets 12,500 bbl/d, expandable to 75,000 bbl/d, with co-production of rare earth elements.
• Sultani Project (Jordan) Initial phase licensee project in Jordan targeting 600-1,000 bbl/d of oil using HCCO technology with a local industrial partner.
• Isfir-Jafr Project (Jordan) Multi-billion barrel Jordan oil shale development licensed to Questerre Energy Corporation using HCCO technology; up to 400,000 bbl/d potential for 40+ years.
• Rare Earth Elements (REEs) Extraction Co-production of rare earth elements (REEs) interbedded with Utah oil shale deposits; ~3,500 tons REEs in-place including 2,000 tons heavy REEs.
• Blue Oil Net-zero CO2 emissions liquid fuel produced through the HCCO process; all associated CO2 emissions captured for sequestration or beneficial use.
• Uintah Partners Refinery and Rail Infrastructure Planned 40,000 bbl/d oil refinery plus rail transloading facilities in Utah's Uinta Basin to produce regional diesel, gasoline and high-value lubricant base oils.

Quantifiable outcome

• Operating costs reduced to under $20 per barrel, enabling project viability at oil prices as low as $35 per barrel
• +5 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core, flagship and minor.

• Questerre Energy CorporationcoreTechnology or Integration · 30 December 2025Questerre Energy completed acquisition of Red Leaf Resources in December 2025, consolidating full ownership. Questerre intends to utilize Red Leaf's HCCO technology for its oil shale projects in Jordan, including the Isfir-Jafr project with 8.6 billion barrels of oil resource potential. Questerre serves as a technology licensee and strategic partner for international expansion.
• HatchcoreStrategic or Co-development PartnerHatch, a global engineering firm, serves as Red Leaf's technical advisor. The company has validated the HCCO process design and outlined a clear path to commercialization for the oil shale technology.
• Local Jordanian PartnerflagshipStrategic or Co-development PartnerRed Leaf collaborates with a local Jordanian partner for the Sultani project (600-1,000 bbl/d initial phase) involving fabrication and construction of processing facilities. The same partner will purchase produced oil for their industrial operations.
• Utah Division of Wildlife ResourcesminorStrategic or Co-development PartnerCollaboration with Utah Division of Wildlife Resources habitat program manager for reclamation research. Research plots established on Seep Ridge lease to study wild game carrying capacity and native plant species restoration on reclaimed land.
• Uintah PartnerscoreStrategic or Co-development PartnerUintah Partners division is developing logistics and processing infrastructure for expansion of the oil-producing Uinta Basin in Utah. Projects include a 40,000 bbl/d refinery and rail transloading facility, leveraging Red Leaf's surface rights and state permits.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• CarbonCapture Inc. US direct air capture company developing modular DAC systems. Adjacent to Red Leaf through the shared focus on carbon removal and the modular scaling strategy, though on the supply-side (DAC) rather than oil-shale integration.
• Charm Industrial: US clean-tech startup producing pyrolyzed bio-oil with permanent carbon sequestration. Conceptually comparable to HCCO's "blue oil" proposition — net-negative/net-zero liquid fuel via pyrolysis plus CCS — though using biomass rather than oil shale.

Broad incumbents

• Occidental Petroleum: US oil major with a substantial CCUS franchise through 1PointFive and the Stratos project. Comparable to Red Leaf in marrying oil production with CO2 capture for sequestration/EOR, albeit at much larger scale.
• Petrobras: Brazilian integrated oil major that has operated the Petrosix surface retort oil shale project for decades, one of the longest-running commercial oil shale operations globally. Comparable in oil shale processing at industrial scale.
• Suncor Energy: Canadian integrated oil sands major operating large-scale, low-cost unconventional oil assets with embedded upgrading. Comparable to Red Leaf in demonstrating the capital-intensive unconventional oil thesis, although at vastly larger scale.
• Questerre Energy Corporation: Canadian upstream oil and gas operator that completed the December 2025 takeover of Red Leaf. Now the parent company but also a comparable in unconventional tight-resources development with Jordan oil shale assets that deploy HCCO.
• PetroChina: Chinese oil major with commercial oil shale retorting operations at Fushun and Maoming. Operates oil shale at a scale that demonstrates the technical viability of the broader category Red Leaf targets.

Direct peers

• Viru Keemia Grupp (VKG): Estonian private oil shale company operating retort-based thermal processing of oil shale into shale oil and chemicals. Directly comparable to Red Leaf in pyrolysis-based oil shale processing, although at a smaller scale than Enefit.
• Ensyn: Canadian pyrolysis technology company that converts biomass into liquid fuel using its RTP process. Closely comparable to HCCO on thermal conversion mechanism and licensing-driven go-to-market, with the key difference being biomass versus oil-shale feedstock.
• Enefit: Estonian state-owned energy company and the world's largest oil shale processor, producing oil and electricity from kukersite oil shale via thermal processing. Closest direct comparable to Red Leaf in feedstock, technology class, and end-product slate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Red Leaf Resources