US Offers Conditional Loan Guarantees Worth About $3 BLN for Two Sustainable Aviation Fuel Projects

<!DOCTYPE html> <html> <head> <meta charset="utf-8"> <title>US Offers Conditional Loan Guarantees Worth About $3 BLN for Two Sustainable Aviation Fuel Projects - World-Energy</title> <meta name="keywords" content="Aviation Fuel" /> <meta name="description" content="The U.S. Department of Energy said on Wednesday it has approved conditional loan guarantee commitments totaling nearly $3 billion for two sustainable aviation fuel projects.The agency's Loan Programs Office said the funding of up to $1.44 billion " /> <meta http-equiv="X-Frame-Options" content="SAMEORIGIN"> <link rel="stylesheet" href="https://www.world-energy.org/statics/images/cpu/js/easytpl/libs/layui/css/layui.css"/> <link rel="stylesheet" href="https://www.world-energy.org/statics/images/cpu/js/layui/css/layui.css"> <link href="https://www.world-energy.org/statics/images/cpu/css/css.css?v=1732369940" rel="stylesheet" type="text/css" />   <script> var _hmt = _hmt || []; (function() { var hm = document.createElement("script"); 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return false;"><img alt="Weibo" src="https://www.world-energy.org/statics/images/share_icon/weibo.png" /></a></li>   </ul> </div> </div> </div> <div class="m fl p20"> <div class="show-c"> <h1 class="title fz26 fwb black"> US Offers Conditional Loan Guarantees Worth About $3 BLN for Two Sustainable Aviation Fuel Projects </h1> <div class="baseinfo"> <i class="iconfont icon-time"></i> <span>17 Oct 2024  by </span><span class="color-front">Reuters</span>    <a href="javascript:;" class="dofav fr fav" title="Add to my favorites" data-id="45238"><i class="iconfont icon-likefill"></i></a> </div> <div class="content mt40"> <div style="text-align: center;"><img alt="" src="https://www.world-energy.org/uploadfile/2024/1017/20241017102026150.jpg" style="width: 960px; height: 720px;" /> <div style="text-align: left;">The U.S. Department of Energy said on Wednesday it has approved conditional loan guarantee commitments totaling nearly $3 billion for two sustainable aviation fuel projects.</div> <p style="text-align: left;">The agency's Loan Programs Office said the funding of up to $1.44 billion to Calumet's (CLMT.O), unit would support the expansion of its facility in Montana.</p> <p style="text-align: left;">The facility will utilize vegetable oils, fats, and greases to produce SAF, renewable diesel, and renewable naphtha.</p> <p style="text-align: left;">If finalized, the loan guarantee would fund facility expansion to produce about 315 million gallons per year of biofuels, most of which will be SAF, the agency said.</p> <p style="text-align: left;">The White House aims to meet all of the U.S.'s aviation fuel demand with SAF by 2050 and to supply at least 3 billion gallons of SAF annually by 2030.</p> <p style="text-align: left;">Once the Montana facility reaches full capacity, its output would represent 10% of the SAF Grand Challenge goal of 3 billion gallons annually by 2030, DOE said.</p> <p style="text-align: left;">The government body also approved an up to $1.46 billion loan guarantee to renewable fuels company Gevo (GEVO.O), opens new tab to help finance a corn starch-to-jet fuel facility in Lake Preston, South Dakota.</p> <p style="text-align: left;">Gevo would be the first integrated, commercial-scale facility in the United States to convert corn starch to SAF with carbon capture and renewable power, DOE said.</p> <p style="text-align: left;">The U.S. Energy Information Administration expects domestic production of biofuels to increase by about 50% in 2024, led by rising SAF production.</p> <div style="text-align: left;"> </div> </div> <br /> </div> </div> </div> <div class="fl show-keywords_small"> <h2 class="t title-ff fwb fz18 black tr show-keywords-title p20 fl"> Keywords </h2> <div class="fr fz18 keywords"> <i class="iconfont icon-icon-down"></i> <a href="https://www.world-energy.org/search.html?keyword=aviation fuel">Aviation Fuel</a> </div> <div class="fr fz18 keywords"> <div class="fixedad ad mt10 mb30" style="width: 630px; 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US Offers Conditional Loan Guarantees Worth About $3 BLN for Two Sustainable Aviation Fuel Projects - World-Energy