Calumet Closes $1.44B DOE Loan for Renewable Fuel Expansion

Calumet, Inc. (CLMT) recently announced the completion of a $1.44 billion guaranteed loan facility that had been awarded by the U.S. Department of Energy (DOE). The funding, designated for Renewable Fuels and Biomass Energy, will support its subsidiary, Montana Renewables.How Will CLMT Benefit From the DOE Loan?The expansion program includes several developments, such as a second renewable fuels reactor, removing the bottlenecks of any of the existing units, installing SAF assets that can be used for blendi ...