Meridian is constructing innovative and environmentally advanced oil refineries in strategic locations adjacent to shale oil production fields. These facilities will utilize state-of-the-art technologies and control systems to provide the first greenfield clean fuels facilities in the U.S. in over four decades. They will be energy efficient with very low emissions, producing ultra-low sulfur gasoline, diesel and other fuels in compliance with all current or foreseeable EPA standards. The Davis Refinery in North Dakota is already the first full-conversion refinery ever permitted as an EPA synthetic minor source and will be the first net-zero carbon refinery by utilizing local vegetable oil to supplement the crude oil feedstock. Meridian’s facilities are designed to be process efficient, with low capital and operating costs. Incoming energy from the local power grid, natural gas from nearby production and zero water discharge will further reduce operating costs and provide energy reliability. The facilities will be equipped with advanced digital technologies including a full digital twin to monitor and optimize operations in real time. By utilizing all new state-of-the-art equipment and controls, the refineries will be the cleanest, safest, smartest and most profitable ever built in the U.S.

Meridian’s Davis Refinery in Billings County, near Belfield, North Dakota is fully permitted and is under construction, due for completion in early 2029. At a rated capacity of 49,500 bpd, Davis could produce about 800mm gallons per year of refined products from local crude to serve regional markets. In addition to its principal feedstock of locally produced Bakken crude oil, Davis will utilize up to 2,000 bpd of vegetable oil in the process, creating a new local market for up to 750 tons per day of canola or 1,500 tons per day of soy.

Meridian is using the intellectual property developed for Davis to establish a refinery in the Permian Basin in West Texas and near the crude oil terminals in Cushing, Oklahoma. Additional sites for Davis-like refineries are in consideration near other shale basins in the United States. The Company is also utilizing its expertise to evaluate the opportunity for a powered-shell datacenter hosting facility at a site near to the Davis Refinery.