- XCF Global (SAFX, Financial) and Continual Renewable Ventures partner to launch New Rise Australia, a SAF and HVO platform.
- The joint venture aims to utilize XCF's patent-pending technology for synthetic aviation fuel projects across Australia.
- The agreement includes an equity stake, license fees, and exclusive rights to the Australian market.
XCF Global, Inc. (SAFX) has entered a strategic partnership with Continual Renewable Ventures Pty. Ltd. to establish New Rise Australia, a venture focused on the development of synthetic aviation fuel (SAF) and hydrotreated vegetable oil (HVO) projects across the country. This collaboration leverages XCF's patent-pending site design and configuration, known for its efficient deployment and scalable growth potential, which has been successfully implemented at their New Rise Reno facility in Nevada.
The memorandum of understanding (MOU) signed between the two companies is non-binding but outlines a framework expected to include equity participation, ongoing license fees, and exclusive rights to the Australian market. The initiative is designed to capitalize on the increasing demand for sustainable aviation fuels in a market with stringent emission regulations and government support for decarbonization efforts.
Mihir Dange, CEO of XCF Global, highlighted that the partnership underscores the strength and capital efficiency of their platform, positioning New Rise Australia to become a leader in sustainable fuels within the region. Renzo Petersen, Director of Continual, expressed confidence in XCF's innovative approach to facility design, foreseeing a rapid and effective rollout of next-generation SAF infrastructure in Australia.
While the partnership is a promising development, it remains at a preliminary stage, with definitive agreements still under negotiation. As legal, technical, and commercial due diligence continues, there is no certainty that the final terms will align with those outlined in the MOU.
