Calumet closes financing on renewable hydrogen project in Great Falls, Montana
Calumet Specialty Products Partners L.P. announced Jan. 4 that Montana Renewables LLC has closed $50 million of project financing from Stonebriar Commercial Finance LLC related to construction of the renewable hydrogen plant for Calumet’s renewable diesel business in Great Falls, Montana.
Once complete, the renewable hydrogen plant will allow increased production of renewable diesel and further reduce the carbon intensity of products from Montana Renewables. The renewable hydrogen plant has an expected operational startup by the end of the year.
The company’s three-part strategy for renewable diesel in Great Falls, Montana, starts this spring with initial conversion of an oversized hydrocracker to produce of 77 million gallons per year (mgy), building a renewable hydrogen unit to boost capacity to 153 mgy, and then adding a feedstock pretreatment unit. The company has hired Burns & McDonnell as its EPC contractor and Haldor Topsoe for process technology and renewable hydrogen.