DOE delays Montana Renewables’ first tranche of $782m loan

A shipment of 7,000 gallons of Sustainable Aviation Fuel was delivered to Dearborn, Michigan from Montana Renewables, LLC. The SAF will be transferred to Detroit Metropolitan Airport via pipeline to fuel Delta flights.
US-based renewable fuels producer Montana Renewables announced that it has informed by the US Department of Energy that the first tranche of around $782m under the guaranteed loan facility has been delayed.
The funding, approved by the DOE, earlier was due to be released on January 28th, 2025.
“We are well aligned with White House priorities to support domestic agriculture, energy security, technical innovation and energy independence, all of which play a role in the tremendous bipartisan support this loan has received since its inception,” said Todd Borgmann, CEO of Calumet. Montana Renewables is an unrestricted subsidiary of Calumet.
“The recently issued executive order specifically highlights the importance of biofuels to our nation’s domestic energy policy and energy independence, and we look forward to a quick review confirming that we are aligned with the administration’s goals.”
The loan facility, which closed on January 10, was meant to fund the construction and expansion of the renewable fuels facility in Great Falls, Montana.
The company, a subsidiary of was informed that the delay should be days or weeks.
If you want to read more about the changes to SAF policies in the US since President Donald Trump’s inauguration, read our in-depth analysis here.