XCF Global engages BoA for financing to construct New Rise 2

Houston-based pure play sustainable aviation fuel (SAF) producer XCF Global said it has engaged Bank of America to evaluate financing options to support the construction of its New Rise Reno 2 facility.

New Rise 2 is expected to enable XCF to expand its SAF and renewable fuel platform and aligns with its recently-signed non-binding memorandum of understanding with global energy and commodities group BGN.

XCF and BGN intend to jointly develop global distribution, marketing, and offtake frameworks across Europe, the Middle East, and other strategic markets.

XCF has engaged Bank of America, to assist in structuring potential debt financing, which may qualify for certain export credit agency programs. There can be no assurance that any financing transaction will be completed or on what terms.

“We look forward to working with Bank of America as we evaluate a range of financing options to support the next phase of our SAF production expansion at New Rise Reno 2 and advance our broader mission to decarbonise the aviation industry,” said Chris Cooper, CEO of XCF Global.

“With governments and airlines worldwide raising their sustainability commitments, expanding SAF production has never been more critical. Meeting the decarbonisation targets of tomorrow requires making thoughtful, strategic investments today.”