those today. Good Thank us joining Noel. morning you, to
quarter Chris shortly, second While the progress greater purpose milestones during of with our begin want update discuss of close the quarter the today's the XXXX. on detail the including the pending of for will call, prior key refinery, to fourth transaction acquisitions I our results Mobile in to of
flagship of we completion into this As Vertex $XX of acquisition refinery asset, scale. Alabama transition build business in Mobile to strong refining this acquire an Mobile, a which Upon has to of of a we'll year, announced first May entered the agreement platform for a energy become definitive from million. upon refinery, Shell
this X projects. for capital involves Our vision asset initial transformational
increasing a project rates. will XX,XXX at to XX,XXX XXXX, production year-end the barrels to current day to the while mid-year hydrocracking involves XXXX, the completion market continuing diesel, day of approximately a conventional to modification the refinery's project by unit The regional supply Upon produce of per renewable on fuels renewable diesel basis. Mobile by of standalone barrels refinery commence first of
supplied a expected which involves provide is at us renewable facility development by Chasse, project, to of refinery Tier XXXX, completed in lenders months, achieve increased Myrtle near-term Grove global numerous be still Belle is other long that to discussions in processing, is the Mobile can unit to feedstock X the to over feedstock, we be a landed commercial pre-treatment recent project positioning optionality, second The the expected year-end banks term.
In our have feedstock pre-treatment Tier to that The X cost conducted lower Louisiana. support financing requirements. with and and
focused now reached several During these key on discussions, stayed financing we've advanced objectives. of which have stages, several
simple First, optionality and we capital growth. to organic support want to maintain significant structure inorganic with future
green currently as markets evaluating term options and available loans, to are We bond us. ADL potential
the cost an relationship we of institution. lowest continue long-term Second, will established to while a with capital lending out seeking negotiate available
is seek covenant-light available to will Mobile we expect a Finally, what liquidity with agreements us. refinery and accepted to consistent the fund within this generally combination the industry.
At negotiate debt financing we of to through juncture,
which us finalized, plans. proceed We before expect completion from XX, all to once with financing will September allow to XXXX, our reach
Safety-Kleen announced In $XXX for recycling unsolicited recent UMO of our around assets. divestiture collection million. discussion separate a to and and assets submitted acquire now to recycling June, collection UMO Turning our our offer an
the assets oil lot our higher-margin Safety-Kleen compelling Board known years consideration, of team to our Directors the Safety-Kleen given businesses. assets of for have have they careful of After for and sale do all our all-cash optimum offer. transition We Safety-Kleen a resulting that the for value the black growth, business. these respect pursuing recycling how of shareholders, focus a concluded in outcome higher was recognized on energy
during into bring recapitalization to costly financial term our of we retiring debt the closing become and the Vertex expect transaction business accelerate regulatory conventional is feedstocks. serve of third to XXXX, continue to refiner of By cash to at transaction various clearance, year-end of a quarter this obligations, this our and pure-play and fund XXXX, close transaction. approval conditions will other the The $XX of sheet.
After Importantly, a renewable will full balance with expected customary Safety-Kleen closing our million approximately shareholders.
that Our growth. capital measurable focus portfolio, enter we to next of simplified asset important strategic investment energy structure transition thesis, create represents transformation shareholders our our as a for phase value of streamlined and opportunities on wholesale us this one positions
on our forward year.
With the and Shell quarter. as reflects to team an people, performance one driving our Chris We over points. growth scale, energy complex manage become of second by remaining an a that preferreds We call exciting Safety-Kleen of continue for the into want I'll focused to on the negotiated simultaneously one their while of to the to conclusion, are ability we the proud a for through that, move EBITDA this move I series recent accomplished profitable independent transition simplified been decision company the organic outstanding into of executed with acquisition performance. during conversion remainder margin, significant our capital team's I'm inorganic period investments.
In major a what Mobile our hand own consensus structuring Vertex on equity, with building a on has and divestiture high-return forward full team the asset plan, of financial review refinery.
It's our look common congratulate progress to our to and meeting structure Street of the
