Diligence memo · auto-generated · as of July 2, 2026
NEXT Renewable Fuels, Inc.
NEXT Renewable Fuels, Inc. looks under-valued against its niche peers and is active on financing cadence.
Businessfiled
NEXT Renewable Fuels, Inc. operates in Other Energy, based in HOUSTON.
Sub-sector tags: climate/cleantech.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
NEXT Renewable Fuels, Inc. has raised $88M in disclosed capital across 14 recorded rounds, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $75M on 2023-04-14.
Most recent recorded round closed around 2025-12-29.
Valuation (modeled)modeled
Provath models NEXT Renewable Fuels, Inc. at approximately $2.7M (range $1.8M–$3.3M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.01× the median modeled value of Series C Other Energy companies in 2025–2027 (17 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 6 months.
Last raise 6 mo ago; this sector typically re-raises about every 12 months.
Raising on or ahead of the sector's normal rhythm.
The last round was 3.3× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 94% of Other Energy peers (2049 compared).
Modeled value ranks above 14% of those peers.
Closest niche peers: Cig Ds1, Llc, Electra Battery Materials Corp, Z-GEO Holdings, LLC, Natron Holdings, Inc., Ludvik Electric Co.
Peoplefiled
24 named people on file across officers, directors and signatories.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.