Montana Renewables achieves full production levels in Q2

Photo: Montana Renewables

Calumet Specialty Products Partners shared Aug. 9 in its second-quarter financials that its Montana Renewables facility in Great Falls, Montana, achieved full production levels for the three-month period, including approximately 7 million gallons of sustainable aviation fuel (SAF).  

The facility can produce renewable diesel and SAF, and full biofuel production for Montana Renewables is 12,000 barrels (504,000 gallons) per day, or more than 170 million gallons per year.  

Montana Renewables reported $7.6 million of adjusted EBITDA during the second quarter of 2024 compared to $13 million in the second quarter of 2023.  

Second-quarter results reflect improved operating results and higher volumes from the renewables business, according to Calumet, while its specialty asphalt refinery plant posted lower results as commodity spreads tightened. 

"Calumet benefited from a strong operational quarter as we continue to demonstrate the strength of our specialties and renewables businesses," said CEO Todd Borgmann.  

"As planned, Montana Renewables produced at full rates throughout the quarter, achieving record levels of throughput, pretreater utilization, SAF production and adjusted EBITDA all while continuing to decrease costs towards our 70-cent-per-gallon year-end target,” he said.  

Borgmann added that advanced discussions with U.S. DOE continue to progress on the company’s plans to increase SAF production capacity, a project known as “MaxSAF.”  

"We look forward to launching our planned MaxSAF expansion,” he said. “MaxSAF is a world-class project, which is aligned with strategic national interest in one of the fastest-growing segments in energy.”