Calumet Cuts SAF Expansion Cost 89% to $137M, Targets 200M Gallons
Indianapolis – September 04, 2026 -- Calumet, Inc. (NASDAQ: CLMT) has slashed the remaining capital requirement for its Montana Renewables sustainable aviation fuel (SAF) expansion to $137 million, down from the $1.2 billion originally contemplated under a Phase 2 plan backed by the U.S. Department of Energy.
Capital spend drops as Calumet repurposes idle refinery equipment
The reduction comes from redeploying a hydrotreater, hydrogen plant and naphtha splitter from the adjacent Calumet Montana Refining (CMR) asphalt facility under a long-term lease, rather than building new capacity from scratch. The tied-in hydrotreater creates a dual-reactor system running in a lower-yield-loss "polishing" configuration instead of standard "cracking" service.