XCF Global Capital Inc. on Feb. 24 announced that New Rise Renewables LLC has commenced production of neat sustainable aviation fuel (SAF). The company has also entered into an irrevocable corporate purchase order for the sale of more than 3 million gallons of neat SAF with a third-party buyer. The first shipments are SAF are expected to begin this month, with delivery anticipated  in early March. 

"Reaching commercial production at New Rise is an exciting milestone, reflecting years of dedication, engineering excellence, and our commitment to innovation," said Mihir Dange, CEO of XCF. "We are proud to begin customer deliveries and provide high-quality SAF that supports the decarbonization of the aviation industry."

New Rise Renewables in April 2024 announced that work was underway to convert its existing renewable diesel plant located near Reno, Nevada, to SAF production. According to the company’s website, the facility currently has the capacity to produce 3,000 barrels per day (46.02 MMgy) of synthetic blending component for blending to make SAF. 

The 3,200 barrel per day (49.06 MMgy) renewable diesel plant originally began operations in mid-2022. The facility is situated on a 10-acre parcel at the Reno-Tahoe Industrial Complex in Storey County, Nevada. The project site includes a 16-car heated rail spur, more than 5 million gallons of tankage, co-generation, off-gas energy recovery, water recovery, and cutting-edge technologies for hydrotreating, hydrogen reformer, feedstock pretreatment, and wastewater treatment, according to the company. 

Development of the facility was supported by loan guarantee awarded through the USDA’s 9003, Biorefinery, Renewable Chemical and Biodiesel Production Manufacturing Assistance Program, according to Greater Commercial Lending, which helped assemble the loan package that made the project possible. According to a 2017 USDA announcement, the facility at that time was being developed under the name Ryze Renewables Reno LLC.  

The facility has been the subject of at least two acquisition agreements in recent years that were eventually canceled. According to documents filed with the U.S. Securities and Exchange Commission, Camber Energy in January 2023 announced it had entered into a membership interest purchase agreement with RESC Renewables Holdings LLC to acquire all of the membership interests of New Rise Renewables LLC, which owned all of the membership interests in New Rise Renewables Reno LLC. On March 13, 2024, however, the companies terminated the agreement. The renewable diesel facility was previously subject to an acquisition agreement with Viking Energy Group Inc., which in December 2021 announced it had entered into a membership interest purchase agreement to acquire the companies developing the Reno plant. That transaction was not completed. According to information released by the companies, Viking Energy Group is subsidiary of Camber Energy.

According to documents filed with the SEC last year, the RESC in December 2023 entered into a membership interest purchase agreement (MIPA) with XCF Global Capital to transfer all of the issued and outstanding membership interests of New Rise Renewables Reno LLC to XCF. XCF completed the acquisition of New Rise Renewables on Feb. 19, 2025.