In a regulatory filing earlier, Calumet (CLMT) noted that it previously disclosed that funding of the U.S. Department of Energy loan to Montana Renewables, a subsidiary of the company, had been delayed for a tactical review to ensure alignment with the new administration’s energy strategy. “The company was recently informed by the DOE’s Loan Program Office that the review has been successfully completed. The funding process has now resumed, and the funding of the first tranche of approximately $782M is expected to be completed next week,” the filing stated. In afternoon trading, shares of Calumet are up $2.37, or 15%, to $18.25.
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