#United States #Calumet #Montana Renewables #Great Falls #DOE Loan

Update on Montana Renewables and DOE Loan Facility

Montana Renewables, a leading player in sustainable fuels, recently announced a timing update regarding its Department of Energy (DOE) loan facility. The loan, which had received prior approval, is specifically allocated for the development of its renewable fuels facility in Great Falls, Montana. Initially set to release around $782 million, the DOE has indicated there will be a tactical delay in funding to ensure that the project aligns with current White House priorities.

Importance of the Loan Facility

The loan facility is vital for the expansion of Montana Renewables’ operations, aiming to meet the growing demand for sustainable fuel sources such as Sustainable Aviation Fuel (SAF) and Renewable Diesel. Todd Borgmann, the CEO of Calumet, Montana Renewables' parent company, expressed confidence in the alignment of the company’s goals with national energy policies promoting domestic agriculture, energy security, and technological innovation.

Borgmann stated, "The significant bipartisan support our loan has received reflects its importance to ensuring the U.S. achieves energy independence. We anticipate this review to be completed swiftly, confirming our adherence to the Administration’s energy goals."

Economic Impact on Montana

An economic impact study conducted by the University of Montana highlights substantial benefits resulting from this project. By 2028, the expansion is projected to generate approximately 4,400 jobs for working-aged families in the region, alongside stimulating local economic growth.

Furthermore, Montana Renewables’ expansion is expected to foster regional development, particularly in sourcing renewable feedstocks from local farms and ranches. This initiative follows the successful model of the Minnesota SAF Hub, aiming to create a robust SAF industry with collaboration between public and private sectors in Montana and the Pacific Northwest.

With the anticipated expansion, Montana Renewables aims to craft a complete supply chain for sustainable aviation fuels within the region. They expect to create around 450 construction jobs and 40 ongoing operational positions, significantly impacting the local economy while fulfilling future fuel needs.

About Montana Renewables

Montana Renewables operates at the forefront of renewable fuel production, specializing in a variety of sustainable fuels, including SAF, Renewable Diesel, Renewable Hydrogen, and Renewable Naphtha. As North America’s largest SAF producer, the company is committed to meeting the increasing demand for low-carbon fuels and driving the transition towards a greener energy future.

The renewable feedstocks sourced from Pacific Northwest farms will not only play a crucial role in the fuel production process but also aid in decreasing emissions compared to traditional fossil fuels. Montana Renewables is wholly owned by Calumet, Inc., headquartered in Indianapolis, Indiana, where it operates multiple facilities across North America, serving a diverse range of industries with specialty products and renewable fuels.

Conclusion

As Montana Renewables gears up for this expansion, its commitment to sustainable practices and regional development stands clear. The delay in the DOE loan process may be a temporary setback, but the potential economic revitalization and commitment to renewable energy showcase the company’s pivotal role in the sustainable fuel landscape. With strong backing from both local and federal support, Montana Renewables is poised to contribute significantly to the future of energy in the United States.