• Calumet outlined a revised expansion at Montana Renewables targeting about 200 million gallons of SAF annual capacity by year-end 2028.
• Remaining project capital cut to USD 137 million from USD 1.2 billion by repurposing equipment from the adjacent Montana asphalt refinery.
• DOE Phase 2 loan availability reduced to a single USD 34 million final draw from up to USD 658 million under an amended loan guarantee.
• Plan removes any third-party equity requirement; funding expected from Montana Renewables earnings alongside the DOE draw.
• SAF run-rate targeted at over 80 million gallons by year-end 2026, above 120 million by spring 2027, reaching 200 million by year-end 2028.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Calumet Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: DE37856) on September 01, 2026, and is solely responsible for the information contained therein.