In Texas, XCF Global, shared its strategic plan to invest close to $1 billion in developing a network of SAF production facilities, expanding its U.S. footprint, and advancing its international growth strategy.
From inception, approximately $350 million has been invested to bring New Rise Reno online which has created approximately 60 full-time management, engineering, and related jobs in the Reno-Tahoe area.
Mihir Dange, Chief Executive Officer and Board Chair of XCF, said: “With over $350 million already invested through New Rise Reno, we’ve proven that we can bring large-scale, commercial SAF production online. Our strategy is to invest nearly $1 billion over the next three years to develop multiple production facilities that will deliver real volumes, real revenue, and real impact for our shareholders.”
XCF’s U.S. expansion plan includes three additional production sites which have already been acquired and are ready for development. Each facility is expected to have nameplate production capacity of 40 million gallons. Together with New Rise Reno, these sites are expected to deliver total production capacity of approximately 160 million gallons per year by the end of 2028.
The company recently signed a Memorandum of Understanding to launch New Rise Australia, a new SAF and renewable diesel production platform in partnership with Continual Renewable Ventures.
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