XCF Global Announces Conditional Agreement to Acquire Paramount Renewable Fuel Facility
XCF Global announced a definitive agreement to acquire a renewable fuel production facility in Paramount, California, through New Rise Renewables Paramount, LLC.
XCF Global Inc. (Nasdaq:SAFX) has entered into a definitive agreement to acquire a renewable fuel production facility in Paramount, California, through its newly formed subsidiary, New Rise Renewables Paramount, LLC. The transaction remains subject to agreed closing conditions and is expected to close before the end of 2026.
The proposed acquisition would add ~50 million annual gallons of production capacity across sustainable aviation fuel, renewable diesel and renewable naphtha. The facility is located less than 20 miles south of downtown Los Angeles and near Los Angeles International Airport.
XCF said the site includes refining, blending, storage, logistics, rail and truck terminal facilities, along with interests in more than 65 miles of pipeline assets. The company also said Paramount was the first U.S. refinery conversion from fossil fuels to renewable fuels and described it as the first commercial-scale renewable jet-fuel production facility in the US.
Following completion of the acquisition, XCF intends to retain the experienced Paramount team and plans to more than double its size. The company plans to restart operations over a 9-12-month period under the New Rise Renewables Paramount name.
XCF expects to invest ~$30 million during the restart period, primarily on workforce training and operational readiness. It also intends to work with its strategic partner BGN to supply feedstock to the facility and to offtake the sustainable fuels produced for aviation and transportation customers.
XCF management has set annual targets of $600 million in gross product sales, $100 million in net revenue and $40 million in EBITDA following the 9-12-month restart period. These are forward-looking management targets, and the company states that actual results could differ materially because of risks and uncertainties.
XCF defines gross product sales as an estimate of the dollar value of finished renewable fuel product sales in end-customer markets. EBITDA is defined as net income (loss) before interest expense, income tax expense (benefit), depreciation and amortization.
The company said gross product sales and EBITDA are non-GAAP measures. They should not be treated as alternatives to revenue, net income (loss) or other U.S. GAAP performance measures, and may not be comparable with similarly titled measures used by other companies. XCF has not provided reconciliations of forward-looking GAAP and non-GAAP measures because of the variability and effort involved.
The acquisition has not been completed. Its proposed closing is subject to agreed conditions. XCF also identifies risks involving the integration of New Rise operations, the timing of its business plan, financing, Nasdaq’s continued listing standards, operating costs, regulatory requirements, legal proceedings, market conditions and the availability of tax credits or other government support.
The company further states that offtake arrangements could be terminated, that its ability to retain employees and maintain customer and supplier relationships may affect anticipated benefits, and that changes in laws, regulations, economic conditions or competition could influence results. It also lists risks connected with intellectual property, public-company compliance obligations, the costs of the Business Combination, and the possibility that letters of intent or memoranda of understanding may not progress to definitive agreements or commercial deployment.
XCF Global is a U.S.-based producer of renewable diesel and sustainable aviation fuel focused on decarbonising transportation, domestic fuel supply and energy security. Its flagship New Rise Renewables Reno facility has a permitted nameplate production capacity of up to 38 million gallons per year.
The company has identified potential expansion opportunities in Nevada, North Carolina and Florida, but says those opportunities remain subject to feasibility assessments, financing, regulatory approvals and market conditions. XCF Global is listed on the Nasdaq Capital Market under the symbol SAFX.
XCF Global has agreed to acquire a Paramount, California renewable fuel facility through New Rise Renewables Paramount, LLC.
The proposed facility would add ~50 million annual gallons of sustainable aviation fuel, renewable diesel and renewable naphtha capacity.
XCF plans a 9-12-month restart period and expects to invest ~$30 million mainly in workforce training and operational readiness.
The acquisition is expected to close before the end of 2026, subject to agreed closing conditions.
Management targets of $600 million in gross product sales, $100 million in net revenue and $40 million in EBITDA are forward-looking and subject to risks and uncertainties.
XCF Global announced that it had entered into a definitive agreement to acquire a renewable fuel production facility in Paramount, California, through its newly formed subsidiary, New Rise Renewables Paramount, LLC. The proposed acquisition would add sustainable aviation fuel, renewable diesel and renewable naphtha production capacity to XCF Global’s platform.
XCF Global announced the agreement on October 20, 2026. The announcement concerns the proposed acquisition of the Paramount, California renewable fuel production facility and the planned restart of its operations.
The proposed addition represents ~50 million annual gallons of sustainable aviation fuel, renewable diesel and renewable naphtha production capacity. The capacity is associated with the Paramount facility, which is located less than 20 miles south of downtown Los Angeles and near Los Angeles International Airport.
Following a 9-12-month restart period, XCF Global management has annual targets of $600 million in gross product sales, $100 million in net revenue and $40 million in EBITDA. These are management targets and forward-looking statements, and the release says they are subject to risks and uncertainties that could cause actual results to differ materially.
XCF Global expects to invest ~$30 million during the restart period, primarily to support workforce training and operational readiness. The release says the restart is planned to take 9-12 months.
The Paramount facility is in Southern California, less than 20 miles south of downtown Los Angeles and near Los Angeles International Airport. The site includes refining, blending, storage, logistics, rail and truck terminal facilities, as well as interests in more than 65 miles of pipeline assets.
XCF Global says Paramount was the first U.S. refinery conversion from fossil fuels to renewable fuels and has a long history of renewable fuel production. The release also describes it as the first commercial-scale renewable jet-fuel production facility in the US.
XCF Global intends to welcome the experienced Paramount team following the closing of the acquisition and plans to more than double the size of the team. It says the team would work to restart operations over the next 9-12 months under the New Rise Renewables Paramount name.
XCF Global intends to use its strategic partnership with BGN to supply feedstock to New Rise Renewables Paramount as the operation relaunches. It also intends to use that partnership to offtake the sustainable fuels produced by the facility for its aviation and transportation customers.
Chris Cooper, Chief Executive Officer of XCF Global, said the acquisition represents an opportunity to expand the company’s vertically integrated alternative fuel platform through the acquisition of refinery infrastructure and operational leadership. He also said XCF Global intends to work with the Paramount team and community to relaunch operations and produce transportation fuel.
XCF Global said the acquisition is expected to close before the end of 2026, subject to agreed closing conditions. The announcement therefore describes a proposed transaction rather than a completed acquisition.
The acquisition remains subject to agreed closing conditions, while the planned restart and expected financial impacts are forward-looking and subject to risks and uncertainties. XCF Global also identifies risks including its ability to integrate New Rise operations and implement its business plan on the anticipated timeline, raise financing, comply with Nasdaq’s continued listing standards, and manage operating, regulatory, legal and market conditions.
XCF Global is a U.S.-based producer of renewable diesel and sustainable aviation fuel focused on decarbonising transportation while supporting domestic fuel supply and energy security. Its flagship New Rise Renewables Reno facility has a permitted nameplate production capacity of up to 38 million gallons per year, and the company says it is pursuing potential expansion opportunities subject to feasibility assessments, financing, regulatory approvals and market conditions.
XCF Global is listed on the Nasdaq Capital Market and trades under the symbol SAFX.
XCF Global says gross product sales and EBITDA are non-GAAP financial measures and should not be considered alternatives to revenue, net income or other U.S. GAAP performance measures. It also says the measures may not be comparable with similarly titled measures used by other companies and that reconciliations of forward-looking GAAP and non-GAAP measures have not been provided because of the effort and variability involved.