Calumet Specialty Products announces DOE commitment for loan of up to $1.44B

The company states: “Calumet announced that the U.S. Department of Energy Loan Programs Office has awarded a conditional commitment for a loan guarantee of up to $1.44 billion to fund the construction and expansion of a renewable fuels facility owned by Montana Renewables, LLC. Montana Renewables is an unrestricted subsidiary of Calumet. The expansion would position Montana Renewables as one of the largest Sustainable Aviation Fuel producers globally with production capacity of approximately 300 million gallons of SAF and 330 million gallons of combined SAF and renewable diesel”.