Montana Renewables, an unrestricted subsidiary of Calumet, Inc., has entered into a three‑year agreement with World Energy Clean Fuels LLC to supply more than 70 million gallons of sustainable aviation fuel (SAF). The partnership is expected to cut up to 600,000 metric tons of CO₂ emissions and is built on Montana Renewables’ MaxSAF 150 expansion, which is targeting 120‑150 million gallons per year by the second quarter of 2026 and 300 million gallons by 2028.
The deal combines Montana Renewables’ proprietary gasification and hydrotreating technology with World Energy’s advanced bioenergy expertise, positioning the two companies to accelerate the supply of low‑carbon aviation fuel. World Energy, recognized as a pioneer in the carbon insets market, brings a proven commercial‑scale SAF production capability that complements Montana Renewables’ expanding capacity. The partnership strengthens Calumet’s renewable fuels portfolio and underscores the company’s commitment to American energy independence and Montana agriculture.
Bruce Fleming, CEO of Montana Renewables, said, "MRL's MaxSAF expansion project is progressing rapidly and is on track to deliver economic benefits to the region's farmers, ranchers, and energy‑related economy this spring." Gene Gebolys, CEO of World Energy, added, "Contracting with MRL for SAF production enables us to better support our growing aviation decarbonization business. We are serving many of the most recognized and respected brands in the world in sectors including tech, pharma, aviation, finance, business services, and others to meet their decarbonization commitments."
The partnership comes as Montana Renewables has secured a $1.44 billion Department of Energy loan guarantee for the MaxSAF project and has completed a refinancing of near‑term debt, extending its asset‑backed loan maturity to 2031. S&P Global Ratings recently upgraded Calumet’s outlook to positive, citing the successful debt restructuring and improving credit metrics. While the Specialty Products and Solutions segment remains resilient, the Montana Renewables segment is expected to benefit from the new SAF contract and the accelerated ramp‑up of the MaxSAF 150 facility.
The agreement signals a significant step forward for Calumet’s renewable fuels strategy, validating the company’s investment in the MaxSAF 150 expansion and reinforcing its position as a leading SAF producer in North America. By securing a long‑term offtake with a major industry player, Calumet gains visibility into future revenue streams and demonstrates its ability to deliver low‑carbon aviation fuel at scale, supporting broader U.S. decarbonization goals and potentially enhancing margin stability in the specialty products segment.
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