XCF Global Partners with New Rise Australia for Renewable Fuel Facilities

XCF Global, Inc. has signed a binding term sheet with New Rise Australia Pty. Ltd. to expand renewable fuel production in Australia. Under the agreement, New Rise Australia gains an exclusive 15-year license to use XCF's renewable fuel platform to establish at least three sustainable aviation fuel (SAF) facilities in the country. In return, XCF will obtain a 12.5% equity stake, licensing fees, and one board seat in New Rise Australia.

This initiative aligns with Australia's increasing focus on renewable energy, as the nation seeks to reduce its dependency on imported fuels. A report by Deloitte outlines a potential AUD$36 billion market for low-carbon liquid fuels, highlighting the importance of such sustainable developments.

The collaboration is a part of XCF's broader international expansion strategy. Chief Executive Mihir Dange emphasizes the strong policy framework and resource availability in Australia as key factors in this decision. Both companies aim to execute a definitive licensing agreement soon, ensuring streamlined governance and operational coordination.