Victory Oilfield Tech, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 10:24 pm IST
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Victory Oilfield Tech, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 0.495388 million compared to USD 0.557793 million a year ago. Net income was USD 0.017023 million compared to USD 0.006977 million a year ago.
For the six months, sales was USD 0.853152 million compared to USD 0.890911 million a year ago. Net loss was USD 0.109449 million compared to USD 0.074281 million a year ago.
Victory Clean Energy, Inc., formerly Victory Oilfield Tech, Inc., is a green hydrogen energy company. It is engaged in developing and implementing clean, sustainable low-cost energy solutions with applications across various industries, including transportation, power generation, and industrial processes. Its TrueGreen Hydrogen production solutions provide clean, reliable, and cost-effective energy sources to a diverse range of clients. TrueGreen Hydrogen focuses on decarbonization in heavy transportation and industrial hydrogen markets. Its hydrogen production technology uses completely sustainable and renewable biomass to produce green hydrogen. Its Net Zero Energy Group specializes in providing sustainable and renewable energy solutions, offering both hydrogen energy solutions derived from renewable sources and completely sustainable prime power generated from biomass. Its Biomass Development Group, LLC, specializes in the cultivation, processing, and distribution of biomass.