Montana Renewables, a subsidiary of Calumet Specialty Products Partners, has been invited by the US Department of Energy to submit a Part II Application for a $600m loan guarantee through the Title XVII Innovative Clean Energy Loan Guarantee Program, according to a news release.
If awarded the loan would finance the manufacturing of 18,000 barrels per day of renewable diesel, SAF, and renewable naphtha using Haldor Topsoe’s HydroFlex technology.
Montana Renewables recently appointed Citigroup to serve as lead underwriter in the proposed offering of $250m of tax-exempt bonds to be issued by Cascade County, Montana. Its parent closed two transactions to fund working capital needs, including a supply and offtake agreement with Macquarie Commodities and Global Markets
