ReGen III Corp

Argus does not expect a return to the pre-Hormuz status quo, and ICIS identifies the United States as the key balancing supplier as global markets reprice supply security. Domestic Group III capacity is the gap in that picture.

The stated vision, in the company's own words: become the world's largest producer of sustainable, re-refined Group III base oils. $GIII.V

Every gallon of re-refined base oil displaces a gallon that would otherwise come from crude. The feedstock already exists, already local, already collected. The opportunity is process, not discovery. $GIII.V

At ILMA Engage in April 2026, Argus reported blenders under pressure to substitute Group II+ light grades, including re-refined base oils, for non-Dexos formulations. That is commercial pull for the co-product stream too.

Group III is a bet on supply rather than on adoption. Demand is locked in by regulation and OEM standards, buyers are paying record prices, and the open question is who can supply rateably over the long term.

The white paper's analysis is straightforward: a used motor oil re-refinery producing Group III base oil falls within the statutory definition of domestic petroleum refining capacity covered by the 20 April determination. $GIII.V

Section 303 authorises federal purchases, purchase commitments, loan guarantees and direct loans to accelerate supply chains deemed essential to national defense. The determinations build on Executive Order 14156 of January 2025.

On 20 April 2026 the President signed five presidential determinations invoking Section 303 of the Defense Production Act of 1950, explicitly covering domestic petroleum production, refining and logistics capacity.

Two emissions figures, each with its own baseline. More than 80% lower than used motor oil combusted at end of life. About 36% lower than conventional virgin base oil production. Both are real, and they measure different things. $GIII.V

Up to 82% lower CO2e emissions than virgin crude derived alternatives. That is how ReGen III describes its own output, and it is the reason this sits in the circular economy rather than beside it. $GIII.V

A detail that changes how you read the business: the process is licensable. Building plants is one route to revenue. Licensing a patented, globally scalable process to operators who already hold sites is another. $GIII.V

42 patents issued as at 27 January 2026, with seven further applications pending, across North America, Europe, Australia, Brazil, Egypt, India, Indonesia, Malaysia, Saudi Arabia, Korea and Singapore. $GIII.V

Validation, stated plainly. More than 6,000 hours of pilot plant testing, independently assessed by Oak Ridge National Laboratory. $GIII.V

Specification as published: viscosity index around 124, Noack volatility 9.9, sulfur below 0.03%, and API accreditation for PCMO 5W formulations. Premium grade performance from a domestic waste stream. $GIII.V

Conventional re-refiners produce Group I and Group II from used motor oil. The proprietary solvent extraction stage, sitting between distillation and hydrotreatment, is what takes the ReGen process to Group III. $GIII.V

Stated yields from used motor oil: 53% Group III, 22% Group II+, and about 20% vacuum tower asphalt extender as a revenue offset. Almost nothing in the barrel is wasted. $GIII.V

How the ReGen process works. Three stages: multi-stage distillation and evaporation, then a proprietary solvent extraction stage the company identifies as the technical differentiator, then hydrotreatment of the residual stream. $GIII.V

Used oil is not waste, it is contaminated feedstock. The base stock does not degrade through engine use. The additive package is what depletes. Remove the contaminants and the base oil is ready for another life.

The United States generates roughly 1.4 billion gallons of used motor oil a year. About 58% of it, more than 800 million gallons, is burned for fuel or discarded. The feedstock question is answered before it is asked.

Asia is collectively missing about 8 million barrels a day of medium sour crude. Base oil sits downstream of that shortage, which is why a refiner short of feedstock makes fuel first and base oil second.