XCF Global Capital goes public in merger with Focus Impact BH3 Acquisition.


XCF Global Capital has merged with Focus Impact BH3 Acquisition through a business combination agreement on March 11th 2024. The agreement is expected to result in a newly-formed holding company for XCF, which will be traded publicly on NYSE or Nasdaq.

This agreement is conditional on XCF’s planned acquisition of New Rise Renewables and its production facility, and adjacent site, in Reno, Nevada, expected to be completed in 2024. The facility would give XCF a sustainable aviation fuel (SAF) production capacity of 38m gallons.

Focus Impact BH3 is proud to be part of this exciting business combination with XCF Global,” said Carl Stanton, CEO, Focus Impact BH3 Acquisition Co. “Our partnership with XCF and their dedication to catalysing the sustainable fuel industry is an example of our commitment to investing in socially forward companies. Together, we aim to accelerate XCF’s growth to become one of America’s leading SAF producers, where we can contribute to reducing the aviation sector’s global carbon footprint and help to build a company that creates significant growth and value for its investors over time.

XCF plans to scale through acquiring more strategically located, smaller sites and converting them into SAF production facilities. As part of this strategy, XCF has acquired two locations in Wilson, North Carolina and Ft. Myers, Florida. When converted to SAF production, these sites should increase XCF’s combined production capacity to more than 150m gallons of neat SAF in the next five years. The total blended SAF production capacity across the four sites could be 1bn gallons per year.

At XCF, we see tremendous growth potential from SAF and renewables and we are very bullish on the sector,” said Mihir Dange, CEO, XCF Global. “We live in an exciting time with so many compelling green energy platforms racing to reduce the globe’s carbon footprint. We are in the very beginning stages of SAF in the United States and XCF is committed to being a leader in this space. Our goal is to change the world for the better while delivering world class returns. We welcome strategic relationships and discussions with all the carriers in this industry and look forward to further defining this landscape.”