MONTANA RENEWABLES CELEBRATES MINNESOTA SAF HUB

Calumet (NASDAQ: CLMT) announced that its unrestricted subsidiary Montana Renewables (MRL) has joined the Minnesota SAF Hub to mark new Sustainable Aviation Fuel (SAF) supply to Minneapolis–St.

Rhea-AI Summary

Calumet (NASDAQ: CLMT) announced that its unrestricted subsidiary Montana Renewables (MRL) has joined the Minnesota SAF Hub to mark new Sustainable Aviation Fuel (SAF) supply to Minneapolis–St. Paul International Airport (MSP). MRL will supply up to 30 million gallons of neat SAF annually to MSP through its existing Shell offtake agreement.

MRL’s partnership with the Minnesota SAF Hub started in 2024, when it delivered winter camelina-based SAF used in Delta Air Lines’ first commercial flight in North America using camelina SAF. MRL produces SAF, renewable diesel, renewable hydrogen and renewable naphtha from low‑carbon feedstocks sourced from Pacific Northwest agricultural operations.

Positive

• Up to 30 million gallons of neat SAF annually to MSP via Shell offtake
• Demonstrated commercial SAF use in Delta’s first North American camelina SAF flight in 2024

Negative

• None.

Argus Aug 4 session 1 alert

-1.91% close to close 0.6x rel. volume Open Argus

Details

News Market Reaction – CLMT

$3.54B Market Cap

On Aug 4, the day this news came out, CLMT closed 1.91% below the previous close.

Data tracked by StockTitan Argus for the Aug 4 session.

Key Figures

Annual SAF supply: up to 30 million gallons Partnership start: 2024 Commercial-scale SAF producers: three producers +1 more

Annual SAF supply

up to 30 million gallons

Through existing Shell offtake agreement

Partnership start

2024

MRL partnership with Minnesota SAF Hub

Commercial-scale SAF producers

three producers

North America

Operating facilities

twelve facilities

Calumet operations throughout North America

Historical Context

5 past events · Latest: Jul 23

5 events

1. Jul 23

   Earnings date notice

   24h Move

   -3.0%

   Announced second-quarter earnings release date and investor conference call schedule

2. Jul 08

   SAF partnership

   24h Move

   +4.4%

   Supplied sustainable aviation fuel for Gulfstream G800 low-emissions testing

3. Jul 08

   Debt redemption

   24h Move

   +4.4%

   Announced redemption of $100 million senior notes due 2028

4. Jun 02

   Investor conference

   24h Move

   +3.5%

   Scheduled one-on-one investor meetings at Wells Fargo conference

5. May 28

   Investor conference

   24h Move

   +4.2%

   Scheduled one-on-one investor meetings at Bank of America conference

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

offtake agreement, feedstocks

2 terms

offtake agreement financial

"through its existing Shell offtake agreement"

A contract in which a buyer commits to purchase a set portion or percentage of a producer’s future output—such as minerals, energy, agricultural goods, or manufactured products—often over a multi‑year period. It matters to investors because it creates predictable sales and cash flow, reduces the risk of unsold inventory, and can make projects easier to finance; think of it like pre‑selling future harvests or securing long‑term customers before production begins.

feedstocks technical

"renewable, low-carbon feedstocks and agricultural byproducts"

Feedstocks are the basic raw materials—such as crude oil, natural gas, agricultural crops, or recycled waste—fed into an industrial process to make products like fuels, chemicals, plastics or fertilizers. For investors, feedstock type, cost and availability act like the price of flour for a bakery: they drive production costs, profit margins, supply reliability and environmental footprint, so changes can materially affect a company’s competitiveness and value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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ST. PAUL, Minn., Aug. 4, 2026 /PRNewswire/ -- Montana Renewables, LLC (MRL) joined the Minnesota SAF Hub in celebration of new supply to Minneapolis-St. Paul International Airport (MSP). MRL will supply up to 30 million gallons of neat SAF annually through its existing Shell offtake agreement.  

MRL's partnership with the Minnesota SAF Hub began in 2024, when the company delivered the first shipment of SAF to MSP. That fuel was made from winter camelina and was used in Delta Air Lines' first-ever commercial flight in North America using camelina SAF.

"It's been exciting to partner with the Minnesota SAF Hub and help bring renewable fuel to MSP," said Bruce Fleming, CEO, MRL. "This is a perfect example of cross-industry collaboration that makes a real impact in moving the energy transition forward."

About Montana Renewables
Montana Renewables (MRL) is a leading renewable fuel company located in Great Falls, Montana. We produce Sustainable Aviation Fuel (SAF), Renewable Diesel, Renewable Hydrogen, and Renewable Naphtha. As one of only three SAF producers running at commercial scale in North America, we meet the increasing demand for sustainable fuels. 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 are converted to renewable transportation fuels which have lower emissions compared to conventional fossil fuels.  MRL is an unrestricted subsidiary of Calumet, Inc.

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.

View original content:https://www.prnewswire.com/news-releases/montana-renewables-celebrates-minnesota-saf-hub-302842476.html

SOURCE Calumet, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Montana Renewables announce about Sustainable Aviation Fuel supply to MSP for Calumet (NASDAQ: CLMT) on August 4, 2026?

Montana Renewables announced it will supply up to 30 million gallons of neat SAF annually to MSP. According to Calumet, this supply uses an existing Shell offtake agreement and supports the Minnesota SAF Hub’s efforts to expand low-carbon aviation fuel usage.

How much Sustainable Aviation Fuel will Montana Renewables provide to Minneapolis–St. Paul airport under Calumet (CLMT)?

Montana Renewables will provide up to 30 million gallons of neat SAF per year to MSP. According to Calumet, this volume will be delivered through an existing Shell offtake agreement as part of the company’s broader renewable fuels portfolio and market presence.

What is the relationship between Montana Renewables and Calumet (CLMT) mentioned in the Minnesota SAF Hub announcement?

Montana Renewables is described as an unrestricted subsidiary of Calumet. According to Calumet, Montana Renewables operates a renewable fuels facility in Great Falls, Montana, producing SAF, renewable diesel, renewable hydrogen and renewable naphtha for transportation and industrial markets.

What role did Montana Renewables play in Delta Air Lines’ first camelina SAF flight in North America?

Montana Renewables supplied winter camelina-based SAF for Delta’s first commercial flight in North America using camelina SAF. According to Calumet, this shipment in 2024 marked the start of Montana Renewables’ partnership with the Minnesota SAF Hub and MSP airport.

What feedstocks does Montana Renewables use for SAF and renewable fuels under Calumet (NASDAQ: CLMT)?

Montana Renewables uses low-carbon agricultural and waste feedstocks, including tallow, distillers corn oil, canola oil, used cooking oil and camelina oil. According to Calumet, these Pacific Northwest farm and ranch byproducts are converted into renewable transportation fuels with lower emissions than conventional fossil fuels.

Why is the Minnesota SAF Hub partnership important for Calumet (CLMT) and Montana Renewables?

The partnership highlights commercial-scale SAF deployment at a major U.S. airport using existing offtake infrastructure. According to Calumet, Montana Renewables’ role in the Minnesota SAF Hub demonstrates ongoing demand for its SAF, supporting the company’s renewable fuels strategy and regional economic contributions.