XCF GLOBAL Stock Price, News & Analysis
Company Description
XCF Global, Inc. (Nasdaq: SAFX) is a sustainable aviation fuel ("SAF") company focused on helping the aviation industry move toward net‑zero emissions. The company develops and operates SAF production facilities and positions itself as an early mover among large‑scale SAF producers in North America. XCF Global is classified in the Utilities sector under Utilities – Renewable and is based in Houston, Texas.
XCF Global’s core platform centers on its flagship facility, New Rise Reno, which has a nameplate or permitted production capacity of approximately 38 million gallons of fuel per year. According to multiple company press releases, New Rise Reno is designed as a state‑of‑the‑art renewable fuels facility engineered for compliance, reliability, and quality. The site produces SAF and has the capability to produce renewable diesel and related renewable fuels, and it serves as the anchor asset for XCF Global’s broader growth strategy.
Business model and growth platform
The company describes itself as an emerging or pioneering SAF producer that develops and operates clean fuel production facilities and builds partnerships across the energy and transportation sectors to scale SAF globally. XCF Global’s business model is built around:
- Large‑scale SAF production at New Rise Reno, with investments the company states are in the hundreds of millions of dollars.
- Modular expansion through additional facilities that replicate and integrate with the New Rise Reno platform.
- Partnership‑driven commercialization that links production with logistics, distribution, and environmental‑attribute monetization.
In its public communications, XCF Global notes that it is advancing a pipeline of additional potential sites in Nevada, North Carolina, Florida, and a proposed New Rise Louisiana project. The company also references a broader pipeline of expansion opportunities and a modular SAF platform that can be deployed at new locations or scaled adjacent to existing infrastructure.
New Rise Reno and New Rise Reno 2
New Rise Reno is described as XCF Global’s flagship facility and a major U.S. SAF production center. The company reports that approximately $350 million has been invested in New Rise Reno since inception. The facility’s permitted or nameplate capacity of about 38 million gallons per year positions XCF Global as an early mover among large‑scale SAF producers in North America, according to repeated “About XCF Global” disclosures in company press releases.
XCF Global has also announced New Rise Reno 2, a second SAF production facility located adjacent to the existing New Rise Reno site in Nevada. The company states that initial development work at New Rise Reno 2 has been completed, including grading of the site and construction of access roads, and that engineering and design work is underway. If fully developed as described, New Rise Reno 2 is expected by the company to roughly double total SAF production capacity to approximately 80 million gallons annually and to benefit from shared utilities and logistics infrastructure, such as gas, water, rail, personnel offices, pre‑treatment, hydrogen production, and broader logistics systems.
In a January 2026 press release, XCF Global further notes that it is evaluating financing alternatives for New Rise Reno 2 and has engaged Bank of America, N.A. to assist in structuring potential debt financing, which may qualify for certain export credit agency programs. The company emphasizes that there can be no assurance that any particular financing transaction will be completed or on what terms.
International and regional development initiatives
Beyond its U.S. facilities pipeline, XCF Global has disclosed a binding term sheet with New Rise Australia Pty. Ltd. to establish a strategic licensing and development partnership in Australia. Under that term sheet, XCF Global will grant New Rise Australia an exclusive license to use XCF’s engineering designs, facility layouts, process configurations, and related know‑how for the development, construction, and operation of renewable fuel production facilities in Australia focused on SAF and renewable diesel. The initial license term is 15 years, with potential five‑year renewals tied to performance milestones, including the development of at least three SAF production facilities in Australia within the initial term.
As part of this Australian structure, XCF Global is to hold a 12.5% non‑dilutable equity interest in New Rise Australia and receive licensing fees equal to 12.5% of net profit achievement, with details to be finalized in a definitive agreement. XCF Global retains ownership of its intellectual property and any improvements developed under the relationship, and the company notes that governance provisions will provide it with board representation and information rights.
Strategic partnerships and collaboration frameworks
XCF Global’s public disclosures highlight multiple non‑binding memoranda of understanding (MOUs) and letters of intent (LOIs) that frame potential strategic collaborations across fuels, power, and environmental attributes:
- BGN INT US LLC (BGN): XCF Global has entered into an MOU with BGN, a global energy and commodities group, to explore a global distribution and logistics partnership for SAF, renewable diesel, and renewable naphtha. The framework contemplates collaboration on production, marketing, and distribution across regions including Europe and the Middle East, as well as potential offtake and co‑branded distribution agreements and joint development of renewable fuel production capacity.
- Southern Energy Renewables Inc. and DevvStream Corp.: XCF Global has signed non‑binding MOUs with Southern and DevvStream to explore a unified low‑carbon fuels platform that would combine SAF production (including HEFA‑based and biomass‑to‑methanol‑to‑jet pathways), logistics, and environmental‑attribute monetization. The parties describe potential structures that could allow customers to procure fuel, logistics services, and environmental‑attribute value through a single integrated offering, subject to definitive agreements and approvals.
- IP3 Corporation and small modular reactors (SMRs): In collaboration with IP3, Southern, and DevvStream, XCF Global has agreed to evaluate a strategic framework that pairs small modular reactor nuclear power with electro‑sustainable aviation fuel (eSAF) production and digital environmental‑asset monetization. The parties describe a concept in which firm, zero‑carbon nuclear power could support electrolysis, hydrogen production, and low‑carbon fuel synthesis, including potential applications for AI data centers and SAF or eSAF refineries in locations such as Louisiana, subject to further study and definitive agreements.
- Posh Energy (Posh Robotics): XCF Global has signed a non‑binding LOI with Posh to explore deployment of Posh’s Flex Gensets at the New Rise Reno facility. A white paper cited by the company outlines how propane‑rich byproduct streams from SAF and renewable diesel production could be converted into renewable electricity, potentially reducing flaring, lowering lifecycle carbon intensity, and creating additional revenue streams through electricity and food‑grade CO₂. The LOI contemplates a 100 kW pilot followed by potential modular scale‑up, subject to due diligence and final agreements.
In each case, XCF Global emphasizes that the MOUs and LOIs are non‑binding, that they do not commit any party to proceed with specific projects or transactions, and that any implementation would depend on confirmatory due diligence, negotiation and execution of definitive agreements, internal approvals, and, where applicable, regulatory or permitting approvals.
Capital markets profile and corporate structure
XCF Global, Inc. is listed on the Nasdaq Capital Market under the ticker symbol SAFX. The company is characterized in SEC filings as a smaller reporting company and an emerging growth company. In June 2025, XCF completed a business combination with Focus Impact BH3 Acquisition Company, a special purpose acquisition company (SPAC) sponsored by an affiliate of Focus Impact Partners. Following that business combination, XCF Global became a publicly traded entity and New Rise Renewables became part of its consolidated operations.
Subsequent SEC filings describe registration statements on Form S‑1 and S‑1/A related to the resale of Class A common stock by selling stockholders and to an equity line of credit with Helena Global Investment Opportunities I Ltd. The filings also discuss private placement warrants, registration rights agreements, and other capital structure elements associated with the SPAC transaction and related financings. XCF Global has disclosed various debt and convertible note arrangements, as well as agreements to convert certain payables and notes into Class A common stock, including transactions with Encore DEC, LLC and GL Part SPV I, LLC.
In December 2025, XCF Global reported that it had received a notice from Nasdaq indicating that the company was not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The notice stated that the company’s common stock had closed below $1.00 per share for 30 consecutive business days and that XCF Global was provided 180 calendar days, until June 8, 2026, to regain compliance. The company notes that the notice and non‑compliance did not have an immediate effect on the listing or trading of its common stock, which continues to trade under the symbol SAFX, and that it may be eligible for an additional compliance period if certain conditions are met.
Policy and market context as described by the company
In its press releases, XCF Global frequently references external projections for the SAF market and policy frameworks. The company cites the U.S. SAF Grand Challenge, which sets federal targets for 3 billion gallons of annual SAF production by 2030 and 35 billion gallons by 2050, and notes that current U.S. production remains a small fraction of total jet fuel demand. XCF Global also points to state‑level low‑carbon fuel standards in jurisdictions such as California, Oregon, Washington, and New Mexico, and to emerging frameworks in additional states, as part of what it characterizes as a rapidly expanding incentive landscape for SAF deployment.
Globally, XCF Global’s communications reference projections that the SAF market could exceed $25 billion by 2030 and potentially reach or exceed $250 billion by 2050, with demand measured in billions of gallons per year. The company also notes European mandates such as ReFuelEU Aviation, which require increasing SAF blend percentages over time. These figures and policies are presented by XCF Global as the backdrop for its strategy to expand SAF production capacity and build international distribution and offtake frameworks.
Corporate governance and leadership
In November 2025, XCF Global announced leadership changes, including the appointment of Christopher (Chris) Cooper as Chief Executive Officer and a member of the Board of Directors, and the appointment of existing director Wray Thorn as Interim Board Chair. The company describes Mr. Cooper as an energy‑transition executive with prior roles at Neste U.S., BGN, Phillips 66, and Chevron, and notes that he brings experience in renewable fuels, downstream operations, and global energy supply chains. The company also notes that New Rise Renewables founder Randy Soule will serve as Senior Operations Adviser, working closely with the CEO and Board to support operations and expansion at New Rise Reno.
XCF Global’s SEC filings describe employment and governance arrangements for its leadership, including an employment agreement with the CEO, board nomination rights for the SPAC sponsor, voting agreements with certain equityholders, and indemnification agreements for directors and executive officers. These documents outline compensation, equity incentives, severance provisions, and governance structures intended to support the company’s transition to and operation as a public company.
Risk factors and forward‑looking statements
Across its press releases and SEC filings, XCF Global includes extensive cautionary language regarding forward‑looking statements. The company highlights risks related to market conditions, regulatory changes, financing availability, disputes involving its New Rise subsidiary and its landlord or primary lender, the ability of New Rise Reno to produce anticipated quantities of SAF and renewable diesel, the integration of acquired operations, compliance with Nasdaq listing standards, and other economic, business, and competitive factors. The company emphasizes that LOIs and MOUs may not advance to definitive agreements or commercial deployment and that projected market sizes, capacity expansions, and financial impacts are subject to uncertainty.
Position within the renewable utilities landscape
Within the Utilities – Renewable industry classification, XCF Global presents itself as a specialized participant focused on SAF and renewable fuels rather than on traditional electricity or gas distribution. Its activities span fuel production, facility development, licensing of engineering designs, and collaboration on environmental‑attribute monetization and digital measurement, reporting, and verification (MRV) systems. The company’s disclosures indicate a strategy that links physical SAF production with environmental attributes, policy‑driven incentives, and potential integration with clean power sources such as nuclear and on‑site generation technologies.