Sustainable aviation gas (SAF) agency XCF International Capital, Inc. stated it has accomplished its enterprise mixture with particular objective acquisition firm Focus Influence BH3 Acquisition according to its plan for a public itemizing.
The mixed firm will function below the identify XCF International, Inc. and its class A standard inventory is anticipated to start buying and selling on the Nasdaq Capital Market below the ticker image “SAFX” on June 9, the corporate stated in a information launch.
XCF International’s New Rise Reno facility, situated within the Reno-Tahoe Industrial Advanced in Storey County, Nevada, started business manufacturing in February of so-called “neat” SAF, which is completely freed from all fossil fuels and never blended with standard jet gas, with a nameplate manufacturing capability of 38 million gallons of neat SAF per yr, based on the discharge.
- Advertisement -
The primary buyer deliveries of neat SAF have been accomplished in March, the corporate stated.
The corporate acknowledged it’s advancing a pipeline of manufacturing websites in Nevada, North Carolina, and Florida to develop SAF capability and help long-term progress.
“The completion of this transaction marks a transformational step for XCF International and the decarbonization of the aviation trade,” XCF International CEO Mihir Dange stated. “With business manufacturing underway, first deliveries accomplished, and a confirmed enterprise mannequin in place, we’re coming into the general public markets with momentum and a transparent path to progress. XCF International is positioned as a market chief on the intersection of aviation and decarbonization – standing on the forefront of a high-growth alternative in artificial aviation gas. We provide the general public capital markets entry to one of many fastest-growing sectors within the world power transition, and we’re proud to be main the shift towards a lower-carbon future for aviation”.
“We’re thrilled to have accomplished the enterprise mixture with XCF International and convey this transformative SAF platform to the general public markets,” Focus Influence BH3 CEO Carl Stanton stated. “With robust macro tailwinds, a repeatable web site improvement mannequin, and a world-class administration staff, XCF International is uniquely positioned to scale SAF manufacturing and drive significant influence within the power transition whereas creating long-term worth for shareholders”.
Focus Influence BH3 is a particular objective acquisition firm shaped for the aim of effecting a merger, capital inventory change, asset acquisitions, inventory buy, reorganization, or related enterprise mixture with a number of companies. Focus Influence BH3 was sponsored by personal funding agency Focus Influence Companions, LLC, based on the discharge.
In the meantime, XCF International appointed Pamela Abowd as the corporate’s chief accounting officer.
Abowd most not too long ago served as vice chairman for company and accounting operations at Tellurian Inc., the place she led all features of accounting operations, monetary reporting, and tax provisions throughout state, federal, and worldwide compliance jurisdictions. She additionally led the accounting and tax due diligence course of for Tellurian’s merger with Woodside Vitality and the post-merger accounting integration, based on an earlier assertion.
XCF International describes itself as a pioneering sustainable aviation gas firm devoted to accelerating the aviation trade’s transition to net-zero emissions.
To contact the writer, electronic mail rocky.teodoro@rigzone.com
What do you assume? We’d love to listen to from you, be a part of the dialog on the
Rigzone Vitality Community.
The Rigzone Vitality Community is a brand new social expertise created for you and all power professionals to Communicate Up about our trade, share information, join with friends and trade insiders and interact in an expert group that can empower your profession in power.
