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BGN and XCF Global Collaborate for a Greener Aviation

In a groundbreaking partnership, BGN INT US LLC, a leading independent energy and commodities group, has signed a Memorandum of Understanding (MOU) with XCF Global, Inc., a pioneer in sustainable aviation fuel (SAF) technology. This alliance aims to develop global production, distribution, and logistics infrastructure for SAF and other renewable fuels. Based in Houston, this initiative is set to revolutionize the aviation industry by providing sustainable alternatives to traditional aviation fuels.

Focus on Decarbonization

The MOU allows BGN and XCF Global to work closely on the production, marketing, and distribution of renewable fuels for major airlines globally. With mounting pressure on airlines to reduce their carbon footprints, the collaboration focuses on scaling the production of SAF and other renewable fuels, including renewable naphtha and diesel. Both entities share a vision of combining XCF Global's scalable production model with BGN's robust marketing and distribution expertise to establish a seamless supply chain.

Cenan Ozmeral, President of BGN Int., LLC, expressed enthusiasm about the partnership, emphasizing the commitment to accelerate decarbonization in aviation. He noted that BGN's trading strength combined with its risk management expertise creates a commercially viable pathway for airlines to adopt SAF, helping them meet stringent decarbonization targets.

Membership with IATA

As part of this partnership, BGN also joined the International Air Transport Association (IATA) as a strategic partner. This membership further solidifies BGN's position in the aviation sector and exhibits its dedication to supplying SAF and other renewable fuels to the industry. IATA, which serves as the leading global trade association for airlines, will provide BGN with essential insights and connections to facilitate wider SAF adoption.

Chris Cooper, CEO of XCF Global, highlighted the significance of the partnership, stating that it represents a vital step in expanding the reach of renewable fuels. The collaboration aims to streamline logistics and accelerate the commercialization of sustainable aviation fuel, addressing the growing demand for environmentally friendly solutions in the aviation sector.

The Importance of Sustainable Aviation Fuel

According to IATA, airlines will require approximately 165 billion gallons of SAF every year by 2050 to achieve net-zero emissions targets. Meeting this substantial demand will necessitate the establishment of around 7,000 new SAF production facilities worldwide. Therefore, the collaboration between BGN and XCF Global is not only strategic but essential in building a reliable supply chain capable of supporting this monumental transition.

While the MOU is currently non-binding and subject to validation and due diligence, the proactive steps taken by both companies demonstrate a strong commitment to a sustainable future for aviation. As the pressure for carbon reduction intensifies, partnerships like this one are crucial in facilitating the transition to cleaner energy sources in heavily polluting industries.

About BGN

BGN is a recognized leader in transition fuels, boasting over 80 years of experience in trading, distributing, storing, and financing energy solutions worldwide. With an extensive portfolio that includes renewable energy initiatives, BGN is committed to delivering reliable and affordable energy while driving decarbonization efforts across various sectors. Operating from key hubs in Geneva, Dubai, Singapore, and Houston, BGN services customers in over 120 countries, further solidifying its role in the global energy landscape.

About XCF Global, Inc.

XCF Global is dedicated to leading the aviation industry towards a sustainable future through its state-of-the-art SAF production facilities. Committed to compliance and quality, XCF Global collaborates across sectors to expand the production and distribution of SAF globally. As a publicly-listed company on the Nasdaq Capital Market under the ticker SAFX, XCF is poised to play a pivotal role in the transition to net-zero emissions in aviation.

For further information about the groundbreaking efforts of these two companies, visit BGN and XCF Global.