XCF Global Inc. (Nasdaq: SAFX) has entered into a definitive agreement to acquire a renewable fuel production facility in Paramount, California, a move that adds approximately 50 million annual gallons of sustainable aviation fuel, renewable diesel, and renewable naphtha production capacity to its portfolio. The transaction, executed through a newly formed subsidiary named New Rise Renewables Paramount, LLC, is expected to close before the end of 2026, subject to agreed closing conditions.
The Paramount facility is located less than 20 miles south of downtown Los Angeles and near Los Angeles International Airport, which serves more than 76 million passengers annually. XCF management describes the site as the first commercial-scale renewable jet-fuel production facility in the United States. The site features infrastructure for refining, blending, and storage, alongside rail and truck terminals and access to pipeline networks exceeding 65 miles.
XCF expects the acquisition to be accretive to shareholder value. Management has set annual targets following a 9-to-12-month restart period: $600 million in gross product sales, $100 million in net revenue, and $40 million in EBITDA. The company plans to invest approximately $30 million during the restart period primarily for workforce training and operational readiness. XCF intends to more than double the size of the existing team at Paramount to facilitate the relaunch of operations.
The acquisition builds on the site’s history as the first U.S. refinery conversion from fossil fuels to renewable fuels. XCF plans to utilize its partnership with BGN to supply feedstock to the facility and to offtake the sustainable fuels produced for aviation and transportation customers. The deal is part of XCF’s broader strategy to expand its vertically integrated alternative fuel platform, which currently includes its flagship New Rise Renewables Reno facility with a permitted nameplate production capacity of up to 38 million gallons per year.
Chris Cooper, Chief Executive Officer of XCF Global, stated that the acquisition represents an opportunity to expand the company’s platform through premier refinery infrastructure and operational leadership. He noted the company’s intention to work with the Paramount team and community to safely relaunch operations and produce transportation fuel that supports the mission of reducing carbon emissions and enhancing domestic energy resilience.
XCF was advised in the transaction by BTIG, Paul Hastings LLP, Marsh, Alvarez & Marsal, and AECOM. The company is listed on the Nasdaq Capital Market under the symbol SAFX and is focused on decarbonizing transportation while supporting domestic fuel supply and energy security.