Montana Renewables, a subsidiary of Calumet, has secured a conditional commitment for a loan guarantee of up to $1.44 billion from the U.S. Department of Energy. The loan will help finance the expansion of a renewable fuels facility in Great Falls, which will produce sustainable aviation fuel, renewable diesel, and renewable naphtha.
The project is expected to create 450 construction jobs and up to 40 new operations jobs at its peak. The facility, which has been operational since late 2022, currently produces 140 million gallons per year of biofuels, mainly renewable diesel. The expansion funded by the loan guarantee will enable the production of approximately 315 million gallons per year of biofuels, with a focus on sustainable aviation fuel.
This significant investment in renewable energy demonstrates a commitment to sustainable practices and reducing reliance on fossil fuels. The expansion of the MRL facility will not only create jobs but also contribute to the production of cleaner fuel alternatives.
Montana Renewables is at the forefront of the renewable energy industry, paving the way for a more sustainable future. With the support of the loan guarantee, the company is poised to make a significant impact on the production of biofuels and reduce carbon emissions in the aviation and transportation sectors.
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