XCF Global has said it is evaluating alternative financing options to support the expansion of its sustainable aviation fuel (SAF) and renewable fuel platform.
The company said it has engaged with Bank of America to assist in structuring potential debt financing that may qualify for certain export credit agency programmes.
The financing would support the construction of its ‘New Rise Reno 2’ facility. The facility ties into its memorandum of understanding (MoU) signed with energy and commodities group BGN INT US. The MoU intends to jointly develop global distribution, marketing, and offtake frameworks across Europe, the Middle East, and other strategic markets.
“We look forward to working with Bank of America as we evaluate a range of financing options to support the next phase of our SAF production expansion at New Rise Reno 2 and advance our broader mission to decarbonize the aviation industry,” said XCF Global CEO Chris Cooper.
The company noted that the global SAF market is projected to exceed $25bn by the end of the decade, with demand expected to exceed 5.5bn gallons — mostly driven by government mandates, airline targets, and growing investor interest.
“With governments and airlines worldwide raising their sustainability commitments, expanding SAF production has never been more critical," said XCF Global CEO Chris Cooper. "Meeting the decarbonization targets of tomorrow requires making thoughtful, strategic investments today.”