Montana Renewables Announces Closing of $1.44 Billion DOE Loan Facility for Renewable Fuels and Biomass Energy Facility
1. Calumet secured a $1.44 billion DOE guaranteed loan for expansion. 2. Expansion will increase Sustainable Aviation Fuel capacity to 300 million gallons annually. 3. Project expected to create 450 construction jobs and stimulate regional economic growth. 4. Montana Renewables aims to source 3 billion pounds of feedstocks post-expansion. 5. Loan terms include interest at U.S. Treasury rate plus 3/8%, deferred repayment.