XCF Global, Continual Renewable Ventures sign MOU to launch New Rise Australia

XCF Global Inc. and Continual Renewable Ventures Pty. Ltd., an Australia-based company with a focus on advancing sustainable aviation fuel (SAF) and renewable diesel announced June 25 the signing of a nonbinding memorandum of understanding (MOU) that seeks to launch New Rise Australia Pty. Ltd. (New Rise AU), a venture dedicated to the development and commercialization of SAF projects across Australia. 

New Rise AU is expected to operate under a licensing agreement that leverages XCF’s integrated SAF platform—including patent-pending site design, configuration and layout that shortens development timelines and improves capital efficiency.  

Designed for rapid deployment and scalable growth, the first Australian facility is expected to follow the blueprint of XCF’s New Rise Reno facility. 

“This partnership underscores the strength of XCF’s platform and validates our unique, capital-efficient approach to facility development,” said Mihir Dange, CEO and board chair of XCF Global. “Our patent-pending site design and modular configuration give ventures like New Rise AU a strategic head start in high-demand markets. The Australian market is primed for SAF growth, with strong regulatory support, rising demand from the aviation sector and a focus on cutting emissions. We’re excited to bring our blueprint to the region and proud to work alongside a team that shares our ambition to accelerate the clean-energy transition.”  

Renzo Petersen, the director of Continual, added, “We chose XCF because of their innovative approach to SAF and [hydrotreated vegetable oil (HVO)] facility design, which enables faster, more efficient deployment at scale. This partnership gives us a head start in building Australia’s next-generation SAF and HVO infrastructure. We’re proud to collaborate with XCF to bring SAF and HVO solutions to Australia. Together, we’re laying the foundation for a scalable, commercially viable platform that supports Australia’s decarbonization goals and positions New Rise AU as a regional leader in sustainable fuel.”  

Today’s announcement marks a key milestone in XCF’s international expansion strategy and builds on the company’s momentum following the recent commissioning of its New Rise Reno facility in Reno, Nevada, and listing on the Nasdaq Capital Market. 

Definitive agreements are expected to be completed in the coming months with legal, technical and commercial diligence already underway.  

XCF Global noted, however, that there are no assurances that the parties will enter into definitive agreements or, if definitive agreements are reached, that the terms will be consistent with those outlined in the MOU. 

A definitive agreement is expected to include equity stake, license fees and exclusive rights to the Australian market.