Jan. 14 at 10:00 AM
$SAFX Bank of America Engaged for Expansion Financing
XCF announced on Monday that it engaged Bank of America (NYSE:BAC) to structure potential debt financing for its New Rise Reno 2 facility to expand its Sustainable Aviation Fuel and renewable fuel platform.
The company also signed a non-binding Memorandum of Understanding with BGN INT US LLC, the American arm of the global energy and commodities group BGN, to establish global distribution and marketing frameworks across Europe, the Middle East, and other markets.
CEO Chris Cooper said the company is evaluating financing options to support SAF production expansion. “With governments and airlines worldwide raising their sustainability commitments, expanding SAF production has never been more critical,” Cooper stated.