County Approves Bonds for Montana Renewables Conversion Project
by Jenn Rowell (The Electric) … Montana Renewables will use the proceeds of the bonds to “finance all, or a portion of, the costs of acquiring, constructing, installing, converting, modifying and repurposing infrastructure and improvements…to create a renewable fuels refinery capable of processing renewable feedstocks into sustainable alternatives; a hydraulic expansion of the renewable fuels refinery, including construction and installation of various pumps, control valves, piping and compressors, a new hydrogen plant, and related improvements; acquisition and installation of equipment in the renewable fuels refinery to facilitate production of sustainable aviation fuel; and related improvements,” according to the county.
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Once the bonds are issued, the county will enter into one or more loan agreements or other financing or credit agreements with Montana Renewables for repayment of the bonds, according to the county.
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The company is converting part of the existing Calumet refinery into a renewable diesel plant.
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Once it’s fully operational, Montana Renewables will “use waste feedstocks to produce low-emission alternatives that directly replace fossil fuel products including renewable hydrogen, renewable diesel and sustainable aviation fuel,” according to the company.
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Wayne Leiker, vice president at Calumet’s Montana refinery, told commissioners during their special Nov. 30 meeting that they’ve completed the conversion construction and are now into the startup phase of the project.
Montana Renewables began production this month and on Nov. 30 sent their first rail cars of renewable diesel fuel, according to the company.
“Today is the beginning. By early 2023, we’ll be producing not just renewable diesel and renewable naphtha, we’ll be the largest sustainable aviation fuel production facility in the country,” Ron Colwell, Montana Renewables general manager, said in a release.
The project also includes a new hydrogen unit, which is expected to be completed in January, and a pre-treatment unit that’s expected to be completed in March, Leiker said. READ MORE