Calumet, Inc. announced that the U.S. Department of Energy (DOE) Loan Programs Office informed the company of a tactical delay for the first tranche of approximately $782 million under the guaranteed loan facility for Montana Renewables. The delay is to confirm alignment with White House priorities.
The loan facility, which closed on January 10, 2025, is intended to fund the construction and expansion of the renewable fuels facility in Great Falls, Montana. The company was informed that the delay is expected to last days or weeks.
Calumet's CEO, Todd Borgmann, stated that the company is aligned with White House priorities, including supporting domestic agriculture, energy security, technical innovation, and energy independence. The company anticipates a quick review confirming this alignment.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.