Renewable Diesel Market Value Proposition
I
SUMMARY
Montana Renewables is a renewable fuel business located in Great Falls, Montana. On November 18, 2021, Montana
Renewables was separated both legally and commercially, and capitalized independently of Calumet. MRL was designated as
an unrestricted subsidiary of Calumet as a part of the separation. MRL is modifying existing assets at the Great Falls facility to
process up to 15,000 barrels per day ("bpd") of renewable feedstocks (such as seed oils, used cooking oil, and tallow) into low-
emission sustainable alternatives that directly replace fossil fuel products. MRL intends to begin renewable feedstock
processing in September 2022.
MRL facility will be largely powered by renewable energy (process fuel, steam, and power from renewable feedstocks and local
hydroelectric dams). Montana Renewables is expected to significantly advance national efforts to address climate change and
reduce greenhouse gas emissions across the transportation and aviation sectors in both the U.S. and abroad.
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A first mover in renewable jet fuel for the Transpacific market
Renewable Fuel Production (bpd, unless noted)
2022YE Initial Run-rate
Expected 2024 Post-Expansion
Renewable Diesel
9,000
Renewable Jet/SAF(1)
Renewable Naphtha/Gasoline (2)
Renewable Hydrogen (thousand scf/d)
1,000/ 2,000
21,000
2,000 / 6,000
13,500
3,000/ 9,000
1,400/2,800
37,000
(1) SAF volume based on a 30/70 blend of pure renewable jet fuel plus fossil jet fuel.
Renewable naphtha blendstock plus ethanol makes a 100% renewable E85 gasoline.
(2)
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