XCF is advancing its long-term strategy by developing its SAF production platform, starting with the planned construction of New Rise Reno 2. This facility aims to expand XCF’s SAF and renewable fuel capabilities.
To support this, XCF has engaged Bank of America to help structure potential debt financing, which may include options from export credit agency programs. However, there’s no guarantee any financing will be finalized or on specific terms.
XCF also signed a non-binding MOU with BGN INT US LLC, a global energy and commodities group. Subject to final negotiations, the companies plan to jointly develop global distribution, marketing, and offtake frameworks across Europe, the Middle East, and other strategic markets.
The global SAF market is projected to surpass $25 billion by 2030, driven by regulatory mandates, airline decarbonization targets, and investor interest. Demand is expected to exceed 5.5 billion gallons. Longer-term, if decarbonization goals are achieved, the market could grow beyond $250 billion by 2050.
Chris Cooper, CEO of XCF, stated: “We look forward to working with Bank of America as we evaluate financing options for our SAF expansion at New Rise Reno 2. As governments and airlines increase their sustainability commitments, expanding SAF production is more critical than ever. Achieving decarbonization requires strategic investments today.”
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