XCF Global announced that the New Rise Reno plant conversion remains on schedule, with key catalyst deliveries expected in late May and early June and commissioning slated for early June.
The conversion involves targeted equipment and catalyst upgrades, heat‑exchange improvements, and equipment modifications, with Axens providing technology support. The Reno facility has a permitted capacity of 38 million gallons per year, and the upgrades aim to enable sustainable aviation fuel production.
The progress is a critical milestone for XCF Global, whose financial health depends on completing the conversion and resuming profitable SAF production. The company has faced significant net losses, a Nasdaq minimum bid‑price non‑compliance notice, and disputes over loan defaults and lease payments that threaten a shutdown of the primary facility.
Despite the positive operational update, investors remain cautious because the company’s financial distress, share dilution, and potential delisting risk outweigh the operational gains. The focus is on XCF Global’s ability to secure financing and meet regulatory compliance.
CEO Chris Cooper emphasized the importance of the Reno conversion for the company’s strategy to become a leading U.S. SAF producer, noting that the upgrades will position XCF Global to capitalize on growing demand for decarbonized aviation fuel.
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