Montana Renewables Collaborates with Gulfstream for Low Emissions Testing

Rhea-AI Summary

Montana Renewables (NASDAQ:CLMT) served as the exclusive fuel supplier for Gulfstream G800 low emissions testing, providing its MaxSAF sustainable aviation fuel. Washington State University characterized fuel properties for the campaign, which compared conventional Jet-A, low-sulfur Jet-A and 100% neat HEFA SAF up to 50,000 feet.

Preliminary results indicate a measurable reduction in contrail-forming particulate emissions when operating on neat SAF, supporting the role of sustainable aviation fuel in lowering non-CO2 emissions. Montana Renewables’ CEO highlighted ongoing efforts to expand SAF production to meet growing industry demand.

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

Positive

• Exclusive supplier of MaxSAF for Gulfstream G800 low emissions testing
• Testing demonstrated potential of 100% neat HEFA SAF up to 50,000 feet
• Preliminary data show measurable reduction in contrail-forming particulate emissions on neat SAF
• Partnership reinforces Montana Renewables’ positioning in sustainable aviation fuel market

Negative

• None.

What This Means

Montana Renewables’ role supplying 100% SAF for Gulfstream’s G800 high‑altitude testing underscores ...

Analysis

Montana Renewables’ role supplying 100% SAF for Gulfstream’s G800 high‑altitude testing underscores its positioning in low‑carbon aviation fuels. Investors may weigh this strategic partnership against prior quarterly losses and recent net insider selling when tracking future updates.

Key Figures

SAF concentration: 100% neat SAF Test altitude: 50,000 feet

2 metrics

SAF concentration 100% neat SAF High-altitude flight test campaign fuel mix

Test altitude 50,000 feet Maximum altitude in G800 contrail-emission test campaign

Historical Context

5 past events · Latest: Jun 02 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 02	Conference attendance	Neutral	+3.5%	Announcement of participation in Wells Fargo Industrials & Materials Conference and investor meetings.
May 28	Conference attendance	Neutral	+4.2%	Plan to attend Bank of America Energy and Power Credit Conference with one-on-one meetings.
May 21	Conference attendance	Neutral	+3.0%	Disclosure of participation in Goldman Sachs Leverage Finance Conference and investor meetings.
May 08	Earnings report	Negative	-7.3%	Q1 2026 net loss with large RINs expense and unrealized derivative losses reported.
Apr 23	Earnings date notice	Neutral	+0.9%	Scheduling of Q1 2026 earnings release and conference call details shared.

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

Pattern Detected

Recent conference and scheduling headlines have coincided with modest gains, while the weak Q1 2026 earnings report led to a sharper selloff.

Regulatory & Risk Context

Short Interest: 5.78%

Short Interest

5.78% of float

0% 15% 30%+

low as of 2026-06-15 Days to cover: 4.72

Short positioning appears relatively low, indicating limited short-squeeze potential and suggesting that short covering alone is unlikely to be a primary driver of extreme volatility.

Key Terms

sustainable aviation fuel, jet-a, hydroprocessed esters and fatty acids (hefa)

3 terms

sustainable aviation fuel technical

"the critical role of SAF in reducing emissions of carbon, sulfur, nitrogen"

Sustainable aviation fuel is a low‑carbon replacement for conventional jet fuel made from renewable sources (like plant residues, waste oils, or captured carbon) but refined to meet the same safety and performance rules as regular jet fuel. Investors care because SAF can lower airlines’ carbon footprints and exposure to tightening regulations, create new supply and cost dynamics in the fuel market, and drive long‑term demand shifts — like using cleaner fuel in the same airplane.

jet-a technical

"compared conventional Jet-A, low-sulfur Jet-A and neat hydroprocessed esters"

Jet-A is a kerosene-based aviation turbine fuel used mainly by commercial and general aviation jets; think of it as the gasoline equivalent for airplanes, formulated to meet cold‑temperature, combustion, and safety standards for turbine engines. It matters to investors because its price, supply and quality affect airline operating costs, refinery margins and transport logistics, and shifts in jet fuel markets can influence airline profitability and broader energy-sector earnings.

hydroprocessed esters and fatty acids (hefa) technical

"neat hydroprocessed esters and fatty acids (HEFA) SAF, which contains no sulfur"

A feedstock type made by taking natural fats, vegetable oils or used cooking oil and chemically treating their esters and fatty acids with hydrogen to make a cleaner, drop-in fuel precursor. Think of it like refining vegetable oil into a ready-to-use diesel or jet-fuel ingredient; refineries then finish the process to make renewable diesel or sustainable aviation fuel. Investors care because HEFA-based fuels qualify for low-carbon credits, affect fuel supply chains, and link agricultural or waste-oil markets to energy revenues.

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

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GREAT FALLS, Mont., July 8, 2026 /PRNewswire/ -- Montana Renewables, LLC (MRL) is proud to have collaborated with Gulfstream Aerospace Corp. and its partners as the exclusive fuel supplier for recent low emissions testing on the Gulfstream G800 aircraft. MRL provided MaxSAF® to fuel the aircraft and Washington State University performed fuel property characterization in preparation for the flight.

Through this testing, Gulfstream became the first business aviation company to successfully complete a high-altitude flight test campaign demonstrating the potential for 100% neat SAF to reduce contrail-forming particle emissions at altitudes up to 50,000 feet. This campaign was designed to isolate how fuel composition influences non-CO₂ emissions, and compared conventional Jet-A, low-sulfur Jet-A and neat hydroprocessed esters and fatty acids (HEFA) SAF, which contains no sulfur or aromatics. Preliminary results suggest a significant measurable reduction in the particulate emissions that contribute to contrail formation when operating on neat SAF.

"As a leader in sustainable aviation fuel, we're excited to partner with Gulfstream to further illustrate the critical role of SAF in reducing emissions of carbon, sulfur, nitrogen and particulates in the business aviation industry," said Bruce Fleming, CEO, Montana Renewables. "We're actively working to expand SAF production so we can rise to meet the growing demand of the industry and the world."

About Montana Renewables
Montana Renewables, LLC (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 a leading SAF producer in North America, we are dedicated to meeting the increasing demand for sustainable fuels and to supporting a low-emissions 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 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 to download multimedia:https://www.prnewswire.com/news-releases/montana-renewables-collaborates-with-gulfstream-for-low-emissions-testing-302819940.html

SOURCE Calumet, Inc.

FAQ

What did Montana Renewables (CLMT) announce about its work with Gulfstream on July 8, 2026?

Montana Renewables announced it was the exclusive fuel supplier for Gulfstream G800 low emissions testing using MaxSAF. According to the company, the campaign evaluated how different fuels, including 100% neat HEFA SAF, impact non-CO2 and contrail-forming particulate emissions.

How was Montana Renewables’ MaxSAF used in Gulfstream G800 low emissions testing?

MaxSAF was used as the sustainable aviation fuel for Gulfstream’s G800 high-altitude test flights. According to Montana Renewables, tests compared conventional Jet-A, low-sulfur Jet-A and neat HEFA SAF to assess particulate emissions and contrail formation effects up to 50,000 feet.

What were the preliminary emissions results from the Gulfstream G800 100% SAF tests involving Montana Renewables’ fuel?

Preliminary results suggest a significant measurable reduction in particulate emissions that contribute to contrail formation when operating on neat SAF. According to the companies, this indicates 100% sustainable aviation fuel may help reduce non-CO2 climate impacts at cruising altitudes.

Why is the Montana Renewables and Gulfstream G800 SAF test important for CLMT investors?

The collaboration highlights growing use of Montana Renewables’ SAF in advanced aviation testing. According to the company, demonstrating contrail-related particulate reductions and expanding SAF production supports its positioning in the sustainable fuel market, an area of increasing global demand.

What role did Washington State University play in the Montana Renewables and Gulfstream SAF testing?

Washington State University performed fuel property characterization on the MaxSAF used in the G800 tests. According to participants, this analysis supported the campaign’s goal of isolating how fuel composition influences non-CO2 emissions and contrail-forming particulate levels at high altitude.

How does Montana Renewables describe its future plans for sustainable aviation fuel production?

Montana Renewables states it is actively working to expand sustainable aviation fuel production. According to CEO Bruce Fleming, the goal is to meet growing demand from the business aviation industry and global markets for lower-emission alternatives to conventional jet fuel.