Montana Renewables Closes $1.44 Billion DOE Loan Guarantee

Calumet Inc. announced the closing of a $1.44 billion U.S. Department of Energy loan guarantee to fund construction of Montana Renewables’ MaxSAF initiative, which aims to boost sustainable aviation fuel (SAF) capacity at the biorefinery to 300 MMgy. The facility currently has the capacity to produce approximately 230 MMgy of renewable fuels, including 50 MMgy of SAF.

Calumet in early 2021 announced plans to convert its existing oil refinery in Great Falls, Montana, to renewables by reconfiguring its oversized hydrocracker to process up to 15,000 barrels per day of renewable feedstocks, producing renewable diesel and SAF. The facility began producing on-spec renewable diesel in 2022, with plant capacity at 6,000 barrels per day. The Montana Renewables facility commissioned renewable hydrogen, SAF and feedstock pretreatment systems in early 2023, boosting capacity to 12,000 barrels per day.