Montana renewables receives first drawdown from $1.44 billion doe loan facility

Initial loan proceeds of $782 million funded today balance of proceeds to be funded during planned expansion from 2025 through 2028 doe loan guarantee facilitates expansion of sustainable aviation fuel capacity to 300 million gallons per year indianapolis , feb. 18, 2025 /prnewswire/ -- calumet, inc. (nasdaq: clmt) ("calumet," "we," "our" or "us") announced today that montana renewables, llc, an unrestricted subsidiary of calumet ("montana renewables" or "mrl"), has received its first drawdown of approximately $782 million from its $1.44 billion guaranteed loan facility with the u.s. department of energy ("doe") loan programs office ("lpo"). the loan funds the construction and expansion of the renewable fuels facility owned by montana renewables.
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