XCF secures line of credit from Helena Global

Sustainable aviation fuel (SAF) producer XCF Global announced that it has entered into an equity line of credit purchase agreement with Helena Global Investment Opportunities as a supplementary source of liquidity.

Helena Global Investment Opportunities is a subsidiary of Helena Partners.

The agreement is subject to the completion of XCF’s previously announced business combination with BH3 Acquisition.

XCF plans to use the line of credit to pursue growth opportunities.

In addition, XCF also announced the appointment of Pamela Abowd as its chief accounting officer.

Abowd most recently served as vice president, corporate and accounting operations at Tellurian, where she led accounting operations, financial reporting and tax provisions across state, federal, and international compliance jurisdictions.

She also led the accounting and tax due diligence process for Tellurian’s merger with Woodside Energy and the post-merger accounting integration.

“We are thrilled to welcome Pamela to XCF as our new chief accounting officer,” said Mihir Dange, chief executive officer of XCF Global. “Pamela’s extensive expertise in tax compliance, tax incentive programs, merger accounting integration, and financial reporting will be critical as we scale our business.”

Earlier in February, SAF company XCF Global announced it began SAF production at the New Rise Renewables site in Reno, Nevada in the US.

The company also announced the signing of a offtake agreement for 3m gallons of SAF with third-party buyer for sale of neat SAF.