The US Department of Energy (DOE) Loan Programs Office (LPO) announced the closing of a $1.67 billion ($1.44 billion of principal and $233 million capitalized interest) loan guarantee to Montana Renewables, LLC (Montana Renewables). (Earlier post.) The loan will help finance the expansion of a renewable fuels facility in Great Falls, Montana, that will utilize vegetable oils, fats, and greases to produce sustainable aviation fuel (SAF), renewable diesel (RD), and renewable naphtha (RN).

The Montana Renewables facility has been in operation since late 2022, currently producing about 140 million gallons per year of biofuels, most of which is RD. The loan will facilitate expansion to produce about 315 million gallons per year of biofuels, most of which will be SAF.

Once the facility reaches full capacity, Montana Renewables will be a leading global SAF producer, expected to produce about half of all North American SAF and about 12% of all global SAF through 2030.