Montana Renewables Secures Financing for Sustainable Aviation Fuel Expansion

US-based Montana Renewables, an unrestricted subsidiary of Calumet, received its first drawdown of approximately $782 million from a $1.44 billion guaranteed loan facility with the U.S. Department of Energy. This funding is aimed at the construction and expansion of a renewable fuel facility, increasing their Sustainable Aviation Fuel (SAF) production capacity to 300 million gallons per year. The expansion, which includes a new renewable fuels reactor, is expected to create 450 construction jobs and enhance regional economic development by supporting local agriculture and renewable feedstock sources.