XCF Global Secures Renewable Fuel Tolling Agreement with BGN Targeting 2,264 bdp SAF and 481 bdp Renewable Naphtha, Following Phillips 66 Offtake Termination
XCF Global, Inc. has entered into a Term Sheet for a Renewable Fuel Tolling Agreement with BGN, an independent global energy and commodities group, on April 9, 2026. This agreement outlines services for processing BGN-owned feedstock into Sustainable Aviation Fuel (SAF) and Renewable Naphtha at XCF's New Rise Reno facility, with yield targets of 2,264 bdp for SAF and 481 bdp for renewable naphtha. Concurrently, XCF's wholly owned subsidiary, New Rise Renewables Reno, LLC, received formal notice on April 2, 2026, from Phillips 66 Company terminating their Supply and Offtake Agreement, effective May 1, 2026. This strategic shift positions XCF with a new partner for feedstock supply and product off-take, potentially streamlining its renewable fuel production operations and securing future capacity utilization.
Key Highlights
- XCF Global entered a Term Sheet for a Renewable Fuel Tolling Agreement with BGN on April 9, 2026, for its New Rise Reno facility and potentially a second future facility.
- The agreement targets a production yield of 2,264 bdp for Sustainable Aviation Fuel (SAF) and 481 bdp for renewable naphtha.
- BGN will be responsible for the purchase and delivery of all renewable feedstocks to XCF's facility at its own cost.
- The initial term of the tolling agreement is three years from the commencement of production.
- Phillips 66 Company delivered formal notice on April 2, 2026, terminating its Supply and Offtake Agreement with XCF's subsidiary, New Rise Renewables Reno, LLC, effective May 1, 2026.
- The parties have agreed to work in good faith to execute a definitive long-form tolling agreement within 20 business days of the Term Sheet execution.