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Montana Renewables Announces Timing Update for DOE Loan Facility

Montana Renewables Announces Timing Update for DOE Loan Facility

蒙大拿可再生能源公司宣佈美國能源部貸款設施的時間更新
PR Newswire ·  01/28 23:25

INDIANAPOLIS, Jan. 28, 2025 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) ("Calumet," the "Company," "we," "our" or "us") has been informed by the U.S. Department of Energy ("DOE") Loan Programs Office ("LPO") that the first tranche of approximately $782 million under the guaranteed loan facility that was previously approved for funding today, January 28, will undergo a tactical delay to confirm alignment with White House priorities. The loan facility, which closed on January 10, will fund the construction and expansion of the renewable fuels facility in Great Falls, Montana, owned by Montana Renewables, LLC ("Montana Renewables" or "MRL"), an unrestricted subsidiary of Calumet. The Company was informed that the delay should be days or weeks.

印第安納波利斯,2025年1月28日 /PRNewswire/ -- Calumet, Inc. (納斯達克: CLMT) ("Calumet," "公司," "我們," "我們的"或"我們") 已被美國能源部 ("DOE") 貸款項目辦公室 ("LPO") 通知,先前批准的擔保貸款設施的第一批約78200萬美元將在今天,即1月28日,經歷戰術延遲,以確認與白宮優先事項的一致性。貸款設施於1月10日關閉,將資助在蒙大拿州大瀑布市的可再生燃料設施的施工和擴建,該設施由蒙大拿可再生能源公司 ("蒙大拿可再生能源"或"MRL") 所有,該公司是Calumet的 unrestricted subsidiary。公司被通知延遲應該是幾天或幾周。

"We are well aligned with White House priorities to support domestic agriculture, energy security, technical innovation and energy independence, all of which play a role in the tremendous bipartisan support this loan has received since its inception," said Todd Borgmann, CEO of Calumet. "The recently issued Executive Order specifically highlights the importance of biofuels to our nation's domestic energy policy and energy independence, and we look forward to a quick review confirming that we are aligned with the Administration's goals."

"我們與白宮優先事項緊密對接,以支持國內農業、能源安全、技術創新和能源獨立,所有這些都在這筆貸款自成立以來所獲得的巨大兩黨支持中發揮了作用,"Calumet的首席執行官Todd Borgmann說。"最近發佈的行政命令特別強調了生物燃料對我們國家國內能源政策和能源獨立的重要性,我們期待迅速審核以確認我們與政府的目標一致。"

Regional Development

區域型發展

An economic impact study1 produced by the University of Montana Bureau of Business and Economic Research (BBER) measured the substantial benefit to Montana in the form of jobs, income, government revenues, economic output and population. For example, by 2028, the economic footprint of the Great Falls site is expected to support a population of 4,400 Montanans, consisting primarily of working-aged families and their children.

由蒙大拿大學商業與經濟研究局 (BBER) 製作的一項經濟影響研究1測量了蒙大拿州在就業、收入、政府收入、經濟產出和人口方面的可觀收益。例如,到2028年,大瀑布地區的經濟足跡預計將支持4400名蒙大拿居民,主要由工作年齡的家庭及其子女組成。

MRL expects the expansion to catalyze additional regional development, particularly for renewable feedstocks sourced from farms and ranches. By driving local infrastructure development in transportation, agricultural and energy related businesses similar to the Minnesota SAF Hub, MRL will create a large-scale, end-to-end SAF industry comprised of public and private partners in Montana and the Pacific Northwest.

MRL預計擴張將催化額外的區域發展,特別是爲來自農場和牧場的可再生原料提供支持。通過推動地方基礎設施在交通、農業和能源相關業務的發展,類似於明尼蘇達州的SAF中心,MRL將創造一個由蒙大拿州和太平洋西北地區的公共和私營合作伙伴組成的大規模端到端SAF行業。

The MRL expansion is expected to create 450 construction jobs and up to 40 operations jobs.

MRL擴展預計將創造450個施工崗位和多達40個運營崗位。

About Montana Renewables
Montana Renewables is a leading renewable fuel company located in Great Falls, Montana. MRL produces Sustainable Aviation Fuel, Renewable Diesel, Renewable Hydrogen and Renewable Naphtha. As the largest SAF producer in North America (2024), MRL is dedicated to meeting the increasing demand for sustainable fuels and to supporting a greener future. As a Great Falls business leader, MRL offers high-paying jobs and career opportunities while supporting the local economy and contributing to the community's overall well-being. Pacific Northwest farm and ranch operations ultimately provide MRL with sustainable, renewable, low-carbon feedstocks and agricultural byproducts including tallow, distillers corn oil, canola oil, used cooking oil and camelina oil. These feedstocks are converted to renewable transportation fuels which have lower emissions compared to conventional fossil fuels. MRL is an unrestricted subsidiary of Calumet, Inc.

關於蒙大拿可再生能源
蒙大拿可再生能源公司是位於蒙大拿州大瀑布市的領先可再生燃料公司。MRL生產可持續航空燃料、可再生柴油、可再生氫和可再生石腦油。作爲北美最大的可持續航空燃料生產商(2024),MRL致力於滿足對可持續燃料日益增長的需求,並支持更加綠色的未來。作爲大瀑布市的商業領袖,MRL提供高薪工作和職業機會,同時支持當地經濟併爲社區的整體福祉做出貢獻。太平洋西北地區的農場和牧場運營最終爲MRL提供可持續的、可再生的、低碳的原料和農業副產品,包括牛脂、釀酒玉米油、菜籽油、使用過的食用油和紫花油。 這些原料被轉化爲可再生交通燃料,與傳統化石燃料相比排放更低。MRL是Calumet, Inc.的無限制子公司。

About Calumet
Calumet, Inc. (NASDAQ: CLMT) manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. Calumet is headquartered in Indianapolis, Indiana and operates twelve facilities throughout North America.

關於Calumet
Calumet, Inc.(納斯達克:CLMT)製造、配方並市場化多樣化的特色品牌產品和可再生燃料,服務於廣泛的面向消費者和工業市場的客戶。Calumet總部位於印第安納波利斯,印度納州,並在北美運營十二個設施。

Cautionary Statement Regarding Forward-Looking Statements
Certain statements and information in this press release may constitute "forward-looking statements." The words "will," "may," "intend," "believe," "expect," "outlook," "forecast," "anticipate," "estimate," "continue," "plan," "should," "could," "would," or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. The statements discussed in this press release that are not purely historical data are forward-looking statements, including, but not limited to, the statements regarding (i) our expectations regarding the funding of the loan facility (the "DOE Facility") that MRL received from the DOE LPO, including the timing of any disbursements, length of any delays in funding and the intended use of borrowings under such facility, (ii) our expectation that the DOE Facility will enable MRL to complete the MaxSAF construction and that such project will be completed on time and on budget, (iii) our expectation regarding our business outlook and cash flows, including with respect to the Montana Renewables business, and (iv) our ability to meet our financial commitments, debt service obligations, debt instrument covenants, contingencies and anticipated capital expenditures. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause our actual results to differ materially from our historical experience and our present expectations or projections. Known material factors that could cause actual results to differ materially from those in the forward-looking statements include, but not limited to: the overall demand for renewable fuels, including SAF and RD; our ability to produce renewable fuel products that meet our customers' unique and precise specifications; the marketing of alternative and competing products; the impact of fluctuations and rapid increases or decreases in renewable fuel margins, including the resulting impact on our liquidity; our ability to comply with financial covenants contained in our debt instruments; labor relations; our access to capital to fund expansions, acquisitions and our working capital needs and our ability to obtain debt or equity financing on satisfactory terms; environmental liabilities or events that are not covered by an indemnity, insurance or existing reserves; maintenance of our credit ratings and ability to receive open credit lines from our suppliers; demand for various feedstocks and resulting changes in pricing conditions; fluctuations in refinery capacity; our ability to access sufficient feedstocks; the effects of competition; continued creditworthiness of, and performance by, counterparties; the impact of current and future laws, rulings and governmental regulations shortages or cost increases of power supplies, natural gas, materials or labor; weather interference with business operations; administration changes in the federal government and potential legislative enactments, executive orders and administrative actions; our ability to access the debt and equity markets; accidents or other unscheduled shutdowns; and general economic, market, business or political conditions, including inflationary pressures, instability in financial institutions, general economic slowdown or a recession, political tensions, conflicts and war (such as the ongoing conflicts in Ukraine and the Middle East and their regional and global ramifications).

關於前瞻性聲明的警示聲明
本新聞稿中的某些聲明和信息可能構成「前瞻性聲明」。「將」、「可能」、「打算」、「相信」、「期望」、「展望」、「預測」、「預期」、「估計」、「繼續」、「計劃」、「應該」、「能夠」、「會」等類似表述旨在識別前瞻性聲明,這些聲明通常不是歷史性質。本新聞稿中討論的、不是純粹歷史數據的陳述被視爲前瞻性聲明,包括但不限於以下陳述:(i)我們對於MRL從DOE LPO獲得的貸款設施(「DOE設施」)資金的預期,包括任何撥款的時間、資金延遲的長度和在該設施下借款的預期用途;(ii)我們預期DOE設施將使MRL能夠完成MaxSAF建設,並且該項目將按時、按預算完成;(iii)我們關於業務前景和現金流的預期,包括與蒙大拿可再生能源業務相關的;(iv)我們履行財務承諾、債務償還義務、債務工具契約、或有事項和預期資本支出的能力。這些前瞻性聲明是基於我們對未來發展的當前預期和信念及其對我們的潛在影響。我們的前瞻性聲明涉及重大風險和不確定性(其中一些超出我們的控制範圍)以及可能導致我們的實際結果與我們的歷史經驗和當前預期或預測存在實質性差異的假設。已知的實質性因素可能導致實際結果與前瞻性聲明中的結果存在實質性差異,包括但不限於:可再生燃料的整體需求,包括可持續航空燃料和可再生柴油;我們生產符合客戶獨特且精確規格的可再生燃料產品的能力;替代及競爭產品的營銷;可再生燃料利潤的波動以及快速增減對我們流動性的影響;我們遵守債務工具中包含的財務契約的能力;勞資關係;我們獲取資金以支持擴展、收購和流動資金需求的能力以及在令人滿意的條件下獲得債務或股權融資的能力;不受賠償、保險或現有儲備覆蓋的環境責任或事件;維持我們的信用評級和獲得供應商開信用額度的能力;各種原料的需求和隨之而來的定價條件變化;煉油能力的波動;我們獲取足夠原料的能力;競爭的影響;對交易對方的持續信用worthiness及其表現;現行及未來法律、裁決和政府規定對電力供應、天然氣、材料或勞動短缺或成本增加的影響;天氣對商業運營的干擾;聯邦政府的管理變動及可能的立法制定、行政命令和行政行動;我們進入債務和股權市場的能力;事故或其他意外停工;以及一般經濟、市場、商業或政治條件,包括通貨膨脹壓力、金融機構的不穩定、一般經濟放緩或衰退、政治緊張、衝突和戰爭(如烏克蘭和中東正在進行的衝突及其區域和全球影響)。

For additional information regarding factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including the risk factors and other cautionary statements in the latest Annual Report on Form 10-K of Calumet Specialty Products Partners, L.P. (the "Partnership") and other filings with the SEC by Calumet, Inc. and the Partnership.

關於可能導致我們的實際業績與預期業績不同的因素的更多信息,請參閱我們向證券交易委員會(SEC)提交的文件,包括Calumet Specialty Products Partners, L.P.("合夥企業")最新年度報告10-K表格中的風險因素和其他警示聲明,以及Calumet, Inc.和合夥企業向SEC提交的其他文件。

We caution that these statements are not guarantees of future performance and you should not rely unduly on them, as they involve risks, uncertainties, and assumptions that we cannot predict. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. While our management considers these assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Accordingly, our actual results may differ materially from the future performance that we have expressed or forecast in our forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. Certain public statements made by us and our representatives on the date hereof may also contain forward-looking statements, which are qualified in their entirety by the cautionary statements contained above.

We caution that these statements are not guarantees of future performance and you should not rely unduly on them, as they involve risks, uncertainties, and assumptions that we cannot predict. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. While our management considers these assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Accordingly, our actual results may differ materially from the future performance that we have expressed or forecast in our forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. Certain public statements made by us and our representatives on the date hereof may also contain forward-looking statements, which are qualified in their entirety by the cautionary statements contained above.

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SOURCE Calumet, Inc.

來源:Calumet, Inc.

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