Calumet Subsidiary Montana Renewables Secures $1.44B Conditional Commitment From DOE For Renewable Fuels And Biomass Energy Facility
Portfolio Pulse from Benzinga Newsdesk
Montana Renewables, a subsidiary of Calumet, has secured a $1.44 billion conditional commitment from the DOE to expand its renewable fuels and biomass energy facility. This expansion will make it one of the largest producers of Sustainable Aviation Fuel globally.
October 16, 2024 | 8:51 pm
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Calumet's subsidiary, Montana Renewables, has received a $1.44 billion conditional commitment from the DOE to expand its renewable fuels facility, potentially boosting its position in the Sustainable Aviation Fuel market.
The $1.44 billion commitment from the DOE is a significant financial boost for Calumet's subsidiary, Montana Renewables. This funding will enable the expansion of its renewable fuels facility, positioning it as a major player in the Sustainable Aviation Fuel market. The increased production capacity is likely to enhance Calumet's market position and financial performance, leading to a positive short-term impact on its stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90