Calumet Inc. on Feb. 12 reported that the Trump administration has successfully completed the “tactical” review of the $1.44 billion U.S. Department of Energy loan guarantee to support expanded sustainable aviation fuel (SAF) production its Montana Renewables facility. The funding process has now resumed.&nbsp;Montana Renewables has been working to expand SAF production through what it calls its MaxSAF initiative for several years. The initiative aims to boost SAF production at the company’s biorefinery from the current capacity of 50 MMgy to 150 MMgy by 2026 and 300 MMgy during the following two years. The company completed the extensive DOE loan guarantee application process last year, with the DOE&nbsp;<a href="https://biomassmagazine.com/articles/montana-renewables-receives-144-billion-conditional-commitment-from-doe-for-renewable-fuels-and-biomass-energy-facility">issuing a conditional commitment</a>&nbsp;for the loan guarantee in October 2024. Calumet&nbsp;<a href="https://biomassmagazine.com/articles/montana-renewables-close-144-billion-doe-loan-guarantee">closed on the $1.44 billion loan guarantee</a>&nbsp;on Jan. 10. The first tranche of approximately $782 million was scheduled to be disbursed on Jan. 28.&nbsp;Calumet on Jan. 28 <a href="https://biomassmagazine.com/articles/montana-renewables-144-billion-doe-loan-guarantee-subject-to-tactical-delay-as-it-undergoes-white-house-review">issued a statement</a> that the first tranche of funding “will undergo a tactical delay to confirm alignment with White House priorities.” The company said it had been informed “the delay should be days or weeks.”&nbsp;In a document submitted to the U.S. Security and Exchange Commission on Feb. 12, Calumet said it has been informed by the DOE’s Loan Program Office that the review has been successfully completed. The funding process has resumed, with the first tranche of approximately $782 million expected to be completed during the week of Feb. 17.&nbsp;

2025-02-18 - Montana Renewables’ $1.44 billion DOE loan guarantee approved by Trump administration  (3 publications)

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Calumet Inc. on Feb. 12 reported that the Trump administration has successfully completed the “tactical” review of the $1.44 billion DOE loan guarantee to support expanded SAF production its Montana Renewables facility. 

Montana Renewables’ $1.44 billion DOE loan guarantee approved by Trump administration

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