Calumet subsidiary Montana Renewables has been awarded a conditional commitment for a loan guarantee of up to $1.44bn from the US Department of Energy (DOE). The funding will be used for the construction and expansion of a renewable fuels facility owned by Montana Renewables.
The company said the expansion will facilitate it to become “one of the largest sustainable aviation fuel (SAF) producers globally” with production capacity estimated to be around 300 million gallons and 330 million gallons of combined SAF and renewable diesel.
Montana Renewables expects to execute a sequence of discrete individual projects including a second renewable fuels reactor - allowing for approximately half of the 300 million SAF capability to be online by 2026 - as well as de-bottlenecking its existing renewable fuels and feedstock pretreatment units, amongst other projects.