MOSCOW (MRC) -- Calumet Specialty Products Partners, L.P. announced that Montana Renewables LLC (MRL) has closed the previously announced USD50 MM of project financing from Stonebriar Commercial Finance LLC related to construction of the renewable hydrogen plant for Calumet's renewable diesel business in Great Falls, Montana, said the company.
Once complete, the renewable hydrogen plant will allow increased production of renewable diesel and further reduce the carbon intensity of products from MRL. The renewable hydrogen plant has an expected operational startup in the fourth quarter of 2022.
As MRC informed earlier, Commodity trader Guangdong Zhenrong Energy Co. has signed a memorandum of understanding (MOU) with BP for commercial cooperation on an oil refinery in the Caribbean.
Calumet Specialty Products Partners LP has retained boutique energy bank Tudor, Pickering, Holt & Co to sell its small oil refinery in Great Falls, Montana. The refinery has the capacity to process 30,000 barrels per day of crude, according to the company’s website. That puts it below the largest refineries on the U.S. Gulf Coast that can process ten times as much.
Calumet manufactures, formulates, and markets a diversified slate of specialty branded products to customers in various consumer-facing and industrial markets. Calumet is headquartered in Indianapolis, IN and operates twelve facilities throughout North America.