GREAT FALLS — The U.S. Department of Energy (DOE) has approved a $1.67 billion loan to Montana Renewables in Great Falls. The funding had been on hold pending a review by the Trump administration.
Calumet, the parent company of Montana Renewables, told MTN News that it was recently informed by the DOE’s Loan Program Office that the review has been completed.
The funding process has now resumed, and the funding of the first tranche of approximately $782 million is expected to be completed next week.
U.S. Senator Steve Daines of Montana said in a news release that he urged the White House to approve the loan: “Energy security is national security. Montana Renewables and the Calumet refinery provide high-paying jobs, boost our economy and provide efficient biofuel production. I am glad to see that President Trump’s DOE is focused on bolstering Made-In-America energy."
Montana Renewable products include sustainable fuels such as renewable hydrogen, renewable diesel, synthetic paraffinic kerosene (SPK), sustainable aviation fuel (SAF), and renewable gasoline blend stock.
The loan from DOE will help expand their Great Falls facility to increase production of sustainable aviation fuel. The MRL expansion is expected to create 450 construction jobs and up to 40 operations jobs.
