Thursday, 23 July 2026 06:30 AM
Company Update
Agreement builds on prior planning and technical alignment to establish a more structured development framework for proposed renewable fuels production in Australia
New Rise ANZ platform is intended to support proposed SAF and renewable diesel development in Australia, with potential expansion across New Zealand and select Asia-Pacific markets
XCF Global may earn up to a 10% equity interest in the project entity through milestone-based technical, development and project support
The New Rise ANZ platform is designed to combine proven renewable fuels technology, advanced modular infrastructure, diversified feedstock strategy and local project development to support what is intended to be one of Australia's first fully integrated SAF and renewable fuels platforms
HOUSTON, TX / ACCESS Newswire / July 23, 2026 / XCF Global, Inc. ("XCF") (NASDAQ:SAFX), an emerging U.S.-based producer of renewable diesel and sustainable aviation fuel ("SAF"), today announced that it has entered into a Joint Commercialization and Development Agreement, dated June 30, 2026, with Continual Renewable Ventures Pty Ltd ("CRV") and New Rise Australia Pty Ltd, the project entity for the proposed New Rise ANZ renewable fuels platform.
The agreement builds on prior planning and technical alignment between the parties and is intended to move New Rise ANZ from early-stage development toward a more structured commercialization framework. The framework contemplates the potential co-development, financing, construction and operation of a Hydroprocessed Esters and Fatty Acids ("HEFA")-based renewable fuels refinery in Australia. The proposed facility is expected to have production capacity of approximately 175 million liters per year of SAF and renewable diesel ("HVO"), subject to definitive project agreements, financing, regulatory approvals, final investment decision, construction, commissioning and other customary conditions.
Beyond the proposed production facility, the New Rise ANZ platform has been structured as an integrated renewable fuels ecosystem incorporating feedstock development, logistics, storage, distribution and proprietary modular blending infrastructure. The platform is designed to support phased market entry while seeking to reduce infrastructure costs, improve supply flexibility and enable potential future expansion across Australia, New Zealand and selected Asia-Pacific markets.
Under the agreement, XCF Global is expected to provide technical, development and project support, including elements of its renewable fuels technology package, project development experience and operational expertise. In exchange, XCF Global may earn up to a 10% equity interest in New Rise Australia Pty Ltd, to be issued in two tranches tied to agreed development milestones and a final investment decision, while CRV is expected to maintain majority ownership and control of the project entity.
The platform also incorporates CRV's proprietary Modular Blending Unit (MBU) technology, which has been developed to reduce capital expenditure associated with conventional fuel storage and blending infrastructure. The modular approach is intended to enable scalable deployment closer to end users while supporting renewable diesel, SAF and future low-carbon fuel distribution pathways.
The New Rise ANZ platform is intended to combine XCF Global's renewable fuels development and operating experience with CRV's local market leadership, project ownership and regional development capabilities. XCF believes the agreement supports its broader strategy to expand renewable fuels production and commercialization opportunities through a combination of owned facilities, strategic relationships, technology deployment and disciplined project development.
Over the past twelve months, CRV has progressed key project workstreams including feedstock sourcing, site identification across multiple Australian jurisdictions, customer engagement, government collaboration and strategic industry partnerships. These activities have been undertaken to establish the core foundations required to progress the project toward bankability and commercial development.
"This agreement represents an important step in extending XCF Global's renewable fuels platform into strategically important international markets," said Chris Cooper, Chief Executive Officer of XCF Global. "We believe New Rise ANZ can create a scalable pathway for SAF and renewable diesel development across Australia and the broader region by combining technical execution with local market leadership. For XCF, this structure is designed to support international growth while maintaining capital discipline and aligning our participation with clear project milestones."
"This agreement reflects the significant progress already made in establishing the foundations for New Rise ANZ," said Renzo Petersen, Managing Director of Continual Renewable Ventures. "Our objective has always been to build far more than a single production facility. We are developing an integrated renewable fuels platform that combines XCF's proven technology, diversified feedstocks, proprietary modular infrastructure and strong industry partnerships. By aligning with XCF Global through an equity-based partnership rather than a traditional technology license, we intend to bring proven world-class operational experience directly into the project while maintaining Australian leadership of the platform. We believe this positions New Rise ANZ to potentially play an important role in strengthening domestic fuel security, supporting aviation decarbonization and establishing Australia as a long-term producer of sustainable aviation fuel and renewable diesel."
The parties believe the collaboration creates a scalable framework for developing Australia's renewable fuels industry by combining proven commercial operating experience with local project leadership, innovative infrastructure solutions and long-term feedstock development. As project milestones are achieved, New Rise ANZ intends to expand its integrated platform across production, logistics and renewable fuel supply to support both domestic and international markets.
During the pre-construction phase, the agreement also contemplates potential commercial activities to evaluate product supply, logistics, customer development and distribution pathways. Any such activities remain subject to commercial terms, regulatory compliance, product availability and definitive documentation.
XCF expects to provide additional updates as the parties progress definitive agreements, project milestones and financing activities.
About XCF Global, Inc.
XCF Global, Inc. ("XCF") is a U.S.-based producer of renewable diesel and sustainable aviation fuel ("SAF") focused on decarbonizing transportation while supporting domestic fuel supply and energy security. The Company's flagship facility, New Rise Renewables Reno, has a permitted nameplate production capacity of 38 million gallons per year. XCF is working to advance a pipeline of potential expansion opportunities in Nevada, North Carolina and Florida, and to build relationships across the energy and transportation sectors to scale renewable fuels production. XCF is listed on the Nasdaq Capital Market and trades under the ticker SAFX.
Contacts
XCF Global: Corporate Communications
[email protected]
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties, including statements regarding XCF Global's commercial operations and growth strategy; the anticipated benefits of the Joint Commercialization and Development Agreement with CRV and New Rise Australia Pty Ltd; the proposed development, financing, construction and operation of a HEFA-based renewable fuels refinery in Australia; the expected production capacity of the proposed facility; XCF Global's potential equity participation in the project entity; the potential development and expansion of the New Rise ANZ platform; potential pre-construction commercial activities and product supply arrangements; and the parties' ability to enter into definitive agreements, obtain financing, secure regulatory approvals, reach final investment decision, complete construction and commissioning, and achieve commercial operations.
All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements concern future circumstances and results and are sometimes identified by words such as "aim," "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "designed," "estimate," "believe," "plan," "could," "would," "project," "predict," "continue," "target," "objective," "goal" or similar expressions. Forward-looking statements are based upon current plans, estimates, expectations and assumptions that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by such forward-looking statements.
Important factors that could cause actual results, developments or outcomes to differ materially include, among others: changes in domestic and foreign business, market, financial, political and legal conditions; XCF Global's ability to integrate operations and implement its business plan on its anticipated timeline; XCF Global's ability to raise financing to fund its operations and business plan and the terms of any such financing; risks related to project development, permitting, financing, construction, commissioning and commercialization; changes in applicable laws or regulations; risks related to extensive regulation and compliance obligations; the availability of tax credits and other government support; risks relating to XCF Global's and New Rise's intellectual property rights; and other risks, uncertainties and factors set forth in XCF Global's filings with the U.S. Securities and Exchange Commission, including its most recent annual report and other filings XCF Global has made or will make in the future.
Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are not guarantees of future performance or outcomes. XCF Global undertakes no obligation to update or revise any forward-looking statements, except as required by applicable law.
SOURCE: XCF Global, Inc.