PROJECT SUMMARY
In January 2025, The Department of Energy’s (DOE) Loan Programs Office (LPO) announced the closing of a $1.67 billion ($1.44 billion of principal and $233 million capitalized interest) loan guarantee to Montana Renewables, LLC (Montana Renewables). The loan will help finance the expansion of a renewable fuels facility in Great Falls, Montana, that will utilize vegetable oils, fats, and greases to produce sustainable aviation fuel (SAF), renewable diesel (RD), and renewable naphtha (RN).
The Montana Renewables facility has been in operation since late 2022, currently producing about 140 million gallons per year of biofuels, most of which is RD. The loan will facilitate expansion to produce about 315 million gallons per year of biofuels, most of which will be SAF. Once the facility reaches full capacity, Montana Renewables will be a leading global SAF producer, expected to produce about half of all North American SAF and about 12% of all global SAF through 2030.
ECONOMIC IMPACT
The project is expected to create, at its peak, 450 construction jobs and up to 40 new permanent operations jobs.
CLIMATE BENEFIT
As the aviation sector aims to meet its decarbonization goals, SAF will become increasingly vital. SAF is the only viable near-term option to decarbonize the airline industry, which is responsible for 11% of U.S. transportation emissions or 3.3% of total U.S. emissions. MRL will produce fuels with significantly lower greenhouse gas emissions, on a life cycle basis, when compared to the production and consumption of conventional co-products, including jet fuel.
COMMUNITY BENEFIT
A majority of the workers currently employed at the Montana Renewables facility are union workers covered by a collective bargaining agreement with the United States Steelworkers (USW) Local 0491.
For more than a decade, Calumet (the parent company of Montana Renewables) has funded various educational initiatives in science, technology, engineering, arts, and mathematics at local schools and colleges.
Many of the communities surrounding Great Falls are disadvantaged communities, as identified by the Climate and Economic Justice Screening Tool, due to high energy burdens and housing costs. The majority of plant workers––nearly 200 of the 263 site workers, and 100 of the 130 MRL workers––live in these communities, including Great Falls and Cascade.
PROJECT STATISTICS: MONTANA RENEWABLES
| PROJECT SUMMARY | Owners | Montana Renewables, LLC |
| Location | Great Falls, Montana | |
| FINANCIAL SUMMARY | Loan Program | 1706 |
| Loan Type | Loan Guarantee | |
| Guaranteed Loan Amount* | $1.67 billion | |
| Issuance Date | January 2025 | |
| ECONOMIC IMPACT | Permanent U.S. Jobs Supported** | 40 |
* Last Updated January 2024. Approximate amount of the loan approved at closing including principal and any capitalized interest.
** Estimated at the time of closing