Liquid asphalt marketer Ergon Asphalt & Emulsions, Inc. has made a $2 million strategic common stock and warrant investment in Verde, becoming a strategic shareholder in the road materials company.
This move comes a month after the two companies fortified their partnership with a Memorandum of Understanding (MOU) signed to launch a collaboration focused on the U.S. market, along with a rapid validation of Verde’s innovative low-CO2 asphalt technology at Ergon’s Paragon facility.
Verde Resources CEO Jack Wong shared that the company is thrilled to welcome Ergon as a strategic shareholder, stating, “This investment strengthens our balance sheet and reinforces our shared vision and long-term commitment.”
“With Ergon’s deep expertise and extensive nationwide infrastructure, they are the ideal partner to scale BioAsphalt™ across North America,” he added.
Verde’s BioAsphalt™ is an emulsion-based carbon sequestering solution that enables the use of 100% recycled asphalt materials in cold-mix applications that eliminate burners, heat, and solvents.
This innovation helps unlock significant cost reductions, extending paving seasons and reducing greenhouse gas emissions.
Through the MOU signed in October 2025, Ergon obtained rights to commercialize the BioAsphalt™ technology across the United States, Canada, and Mexico.
In a recent independent testing done by the National Center for Asphalt Technology (NCAT), the performance of the biochar-infused BioAsphalt™ product was validated and rated as surpassing industry standards, demonstrating strength, durability, and a moisture resistance level that makes the material suitable for surface applications.
Relevant: Verde And Ergon Strengthen Sustainable Asphalt Partnership With New MOU
Looking ahead, Verde and Ergon will work on demonstrating BioAsphalt™ at full commercial scale and generating carbon removal credits through its deployment.
To that end, the two companies have already put together joint teams and are communicating with major customers from Ergon’s large-scale projects network.
Patrick Nation, president of Ergon Asphalt & Emulsions, stated,
“Our investment reflects genuine enthusiasm to advance Verde’s proprietary technology and bring it to market. BioAsphalt™ provides a practical, scalable solution to decarbonize our sector without compromising quality or performance, and we’re proud to support Verde’s growth as both a commercial partner and strategic shareholder.”
Read more: Opinion: Every Mile a Carbon Sink: Rebuilding Trust in Carbon Credits through Biochar Asphalt
