Verde Clean Fuels, Inc. 10-K

ITEM 2. Properties. Our corporate headquarters is located at 600 Travis Street, Suite 5050, Houston, Texas 77002. We also lease commercial office space and a demonstration facility in Hillsborough, New Jersey pursuant to an operating lease that expires in April 2024. Leasing our facilities gives us the flexibility to expand or reduce our office space as appropriate as we shift from product development to deployment. We believe our current facilities are adequate for our current operating needs, and we anticipate that we will have access to other facilities, through future contractual arrangements, for development, testing and production. We believe the location of our first commercial production facility in Maricopa, Arizona will provide us with strategic access to the transportation energy market in California. We expect our product to qualify for California’s LCFS credit to the extent our product is sold in California, which we believe will generate value of approximately $0.65 per gallon at our first commercial production facility.