Clean Energy Giant Buys Historic California Fuel Refinery to Power Future Flights
Paramount, Tuesday, 20 October 2026.
On 20 October 2026, XCF Global agreed to acquire America’s first renewable jet-fuel facility near Los Angeles, targeting $600 million in sales following a 12-month operational restart.
Strategic Location and Infrastructure
The Paramount facility is situated less than 32 km south of downtown Los Angeles, providing critical proximity to Los Angeles International Airport which serves over 76 million passengers annually [1]. This location is logistically advantageous for distribution, featuring refining, blending, storage, and terminal infrastructure alongside interests in more than 104.6 km of pipeline assets [1].
Historically significant, the site marks the first U.S. refinery converted from fossil fuels to renewable fuels, positioning it as a pioneer in the sector [1]. XCF Global intends to utilize this existing infrastructure to expand its alternative energy platform with an added annual capacity of roughly 50 million gallons of sustainable aviation fuel, renewable diesel, and renewable naphtha [1].
Financial Projections and Restart Timeline
XCF Global expects a restart period lasting 9 to 12 months, during which approximately $30 million will be invested in workforce training and operational readiness [1]. Upon completion of this phase, management targets annual gross product sales of $600 million and EBITDA of $40 million, implying an EBITDA margin of 6.667 [1].
These financial targets are underpinned by a strategic feedstock and offtake partnership with BGN, aimed at securing revenue streams post-restart [1]. The acquisition is expected to be accretive to XCF shareholder value once the facility reaches full operational capacity following the restart window [1].
Risks and Corporate Context
The company currently faces unresolved disputes regarding ground leases and outstanding development loans for its New Rise Reno facility, which operates alongside the new acquisition [1]. Additionally, XCF Global is working to regain compliance with Nasdaq listing standards while integrating these new operations and transitioning the Reno facility to sustainable aviation fuel production [1].
Management notes that forward-looking statements are based upon estimates and assumptions that are inherently uncertain and subject to material change [1]. Success remains subject to risks including financing availability, regulatory compliance, and the conversion of existing letters of intent into definitive agreements [1].