XCF Global Inc. announced Thursday an investment plan of nearly $1 billion over the next three years to build sustainable aviation fuel (SAF) production facilities, with most of its in-the-pipeline projects in the United States.
The package includes $350 million already invested in New Rise Reno in Nevada, which has a nameplate capacity of 38 million gallons a year. It started production early this year.
The announcement follows XCF Global Capital Inc. and Focus Impact BH3 Acquisition Co.’s completion of their merger, creating what they said is the first publicly traded pure-play SAF producer in the U.S.
Under its U.S. expansion plan, XCF has acquired three sites “ready for development”, it said in an online statement Thursday. The projects are planned to each have a nameplate capacity of 40 million gallons per annum. XCF expects to put them into operation by 2028.
Expected to be completed 2027, New Rise Reno 2 will rise next to the existing plant, “enabling economies of scale and leveraging shared utilities and logistics infrastructure”, XCF said.
Another project in Ft. Myers, Florida, will be built on a site with access to port infrastructure. It is expected to be completed 2028.
The third, also targeted for start-up 2028, will rise in Wilson, North Carolina, eyeing East Coast markets.
“These new sites are expected to replicate New Rise Reno’s modular, patent-pending site design and bundled technology stack, allowing for rapid deployment, flexible production, and capital-efficient scaling”, XCF said.
“Each facility is expected to have the ability to produce multiple renewable fuel products, including SAF and renewable diesel, supporting a multi-product revenue strategy that maximizes plant utilization and financial performance”.
XCF is also pursuing other “high-potential” markets, the statement said. Last month it announced a non-binding memorandum of understanding with Continual Renewable Ventures for an Australian SAF and renewable diesel joint venture. New Rise Australia Pty. Ltd., the joint venture, would deploy XCF’s design.
“Today, more than 2 billion people globally live in countries with SAF blending mandates or strong incentives like tax credits – by 2030, this number is expected to grow to more than 4 billion people”, the statement said. “This clear, expanding global demand underpins XCF’s decision to scale production at home and internationally, ensuring the company is positioned to serve markets where policy, aviation demand, and decarbonization goals align”.
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