US Approves $1.67B Loan for Montana SAF Refinery Expansion

The U.S. Department of Energy has approved a $1.67 billion loan guarantee for the expansion of the Montana Renewables sustainable aviation fuel (SAF) refinery, which aims to increase production from 140 million gallons to 315 million gallons annually. This facility, operational since late 2022, will contribute to about half of North America's SAF supply and create nearly 500 jobs. The loan was initially finalized during the Biden administration on January 10, 2024, but its disbursement faced scrutiny under the Trump administration, which has been reviewing clean energy projects to align with its priorities. Despite concerns from green energy advocates regarding potential rollbacks, the Trump administration approved the loan, citing it as part of their energy dominance agenda. The expansion aligns with broader goals to boost U.S. sustainable jet fuel production to 3 billion gallons per year by 2030. Senator Steve Daines emphasized the importance of the project for economic growth and energy independence.