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Policy Momentum: Federal and state policy alignment is accelerating nationwide SAF adoption
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Market Opportunity: U.S. SAF market projected at $7 billion by 2030, with a $25 billion global opportunity
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Strategic Investment: $350 million invested in the New Rise Reno facility, advancing America’s push to decarbonize aviation
HOUSTON, TEXAS / ACCESS Newswire / November 20, 2025 / XCF Global, Inc. (“XCF”) (Nasdaq:SAFX), a key player in decarbonizing the aviation industry through Sustainable Aviation Fuel (“SAF”), today commented on the expanding policy momentum supporting SAF adoption across the United States.
Momentum is building fast. Under the U.S. SAF Grand Challenge, federal targets call for 3 billion gallons of annual production by 2030 – scaling to 35 billion gallons by 2050 to meet 100% of domestic demand. Today, production remains below 1% of U.S. jet fuel use, underscoring both the urgency and the scale of the opportunity.
The U.S. SAF market is expected to grow more than seven-fold – from approximately $860 million in 2024 to nearly $7 billion by 2030 – representing a compound annual growth rate (CAGR) of ~47%. Globally, the SAF market is projected to exceed $25 billion, with worldwide demand surpassing 5.5 billion gallons over the same period.
At the state level, momentum is accelerating in parallel. California, Oregon, Washington, and New Mexico have adopted low-carbon fuel standards that include SAF, and five additional states are advancing similar frameworks. Collectively, these states represent nearly 40% of total U.S. jet fuel consumption, creating a rapidly expanding incentive landscape for SAF deployment.
“Policy momentum is transforming aspiration into execution,” said Chris Cooper, CEO of XCF Global. “The U.S. is making it clear that sustainable aviation fuel is essential to the future of aviation. With supportive federal and state frameworks, airlines and energy companies can move beyond pilot programs and commit to long-term, scalable decarbonization strategies. At XCF, we’re building one of America’s leading SAF platforms – designed to scale production, strengthen domestic supply chains, and meet the growing demand for home-grown, low-carbon fuels.”
From inception, approximately $350 million has been invested in XCF’s flagship New Rise Reno facility. The company is advancing a project pipeline of three additional sites. The second facility, New Rise Reno 2, located adjacent to the existing site, will share utilities and logistics infrastructure to maximize efficiencies. XCF expects construction to begin in 2026 and operations from 2028, following an additional $300 million investment that is expected to double production capacity to ~80 million gallons per year.
As global demand accelerates, the U.S. has an opportunity to not only meet its own decarbonization goals but also to become a leading exporter of low-carbon fuels. Expanding domestic SAF production supports the Make More in America Initiative, creates high-tech, clean-energy jobs, and strengthens the nation’s competitiveness in the global energy transition.
“America’s aviation industry has always thrived on innovation,” Cooper continued. “With clear policy alignment and accelerating demand, the U.S. has a generational opportunity to lead the world in sustainable aviation. XCF is committed to turning that opportunity into action – transforming today’s policy commitments into tomorrow’s progress.”
About XCF Global, Inc.
XCF Global, Inc. is a pioneering sustainable aviation fuel company dedicated to accelerating the aviation industry’s transition to net-zero emissions. Our flagship facility, New Rise Reno, has a nameplate production capacity of 38 million gallons per year, positioning XCF as an early mover among large-scale SAF producers in North America. XCF is advancing a pipeline of three additional sites in Nevada, North Carolina, and Florida, and is building partnerships across the energy and transportation sectors to scale SAF globally. XCF is listed on the Nasdaq Capital Market and trades under the ticker, SAFX. Current outstanding shares: ~159.2 million; <20% free float (as of November 20, 2025).
To learn more, visit www.xcf.global.
Contacts:
XCF Global:
C/O Camarco
XCFGlobal@camarco.co.uk
Media:
Camarco
Andrew Archer | Rosie Driscoll | Violet Wilson
XCFGlobal@camarco.co.uk
Forward-Looking Statements
This Press Release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. These forward-looking statements, including, without limitation, statements regarding XCF Global’s expectations with respect to future performance and anticipated financial impacts of the recently completed business combination with Focus Impact BH3 Acquisition Company (the “Business Combination”), estimates and forecasts of other financial and performance metrics, and projections of market opportunity and market share, are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by XCF Global and its management, are inherently uncertain and subject to material change. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) changes in domestic and foreign business, market, financial, political, and legal conditions; (2) unexpected increases in XCF Global’s expenses, including manufacturing and operating expenses and interest expenses, as a result of potential inflationary pressures, changes in interest rates and other factors; (3) the occurrence of any event, change or other circumstances that could give rise to the termination of negotiations and any agreements with regard to XCF Global’s offtake arrangements; (4) the outcome of any legal proceedings that may be instituted against the parties to the Business Combination or others; (5) XCF Global’s ability to regain compliance with Nasdaq’s continued listing standards and thereafter continue to meet Nasdaq’s continued listing standards; (6) XCF Global’s ability to integrate the operations of New Rise and implement its business plan on its anticipated timeline; (7) XCF Global’s ability to raise financing to fund its operations and business plan and the terms of any such financing; (8) the New Rise Reno production facility’s ability to produce the anticipated quantities of SAF without interruption or material changes to the SAF production process; (9) the New Rise Reno production facility’s ability to produce renewable diesel in commercial quantities without interruption during the ongoing SAF ramp-up process; (10) XCF Global’s ability to resolve current disputes between its New Rise subsidiary and its landlord with respect to the ground lease for the New Rise Reno facility; (11) XCF Global’s ability to resolve current disputes between its New Rise subsidiary and its primary lender with respect to loans outstanding that were used in the development of the New Rise Reno facility; (12) payment of fees, expenses and other costs related to the completion of the Business Combination and the New Rise acquisitions; (13) the risk of disruption to the current plans and operations of XCF Global as a result of the consummation of the Business Combination; (14) XCF Global’s ability to recognize the anticipated benefits of the Business Combination and the New Rise acquisitions, which may be affected by, among other things, competition, the ability of XCF Global to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (15) changes in applicable laws or regulations; (16) risks related to extensive regulation, compliance obligations and rigorous enforcement by federal, state, and non-U.S. governmental authorities; (17) the possibility that XCF Global may be adversely affected by other economic, business, and/or competitive factors; (18) the availability of tax credits and other federal, state or local government support; (19) risks relating to XCF Global’s and New Rise’s key intellectual property rights, including the possible infringement of their intellectual property rights by third parties; (20) the risk that XCF Global’s reporting and compliance obligations as a publicly-traded company divert management resources from business operations; (21) the effects of increased costs associated with operating as a public company; and (22) various factors beyond management’s control, including general economic conditions and other risks, uncertainties and factors set forth in XCF Global’s filings with the Securities and Exchange Commission (“SEC”), including the final proxy statement/prospectus relating to the Business Combination filed with the SEC on February 6, 2025, this Press Release and other filings XCF Global made or will make with the SEC in the future. If any of the risks actually occur, either alone or in combination with other events or circumstances, or XCF Global’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that XCF Global does not presently know or that it currently believes are not material that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect XCF Global’s expectations, plans or forecasts of future events and views as of the date of this Press Release. These forward-looking statements should not be relied upon as representing XCF Global’s assessments as of any date subsequent to the date of this Press Release. Accordingly, undue reliance should not be placed upon the forward-looking statements. While XCF Global may elect to update these forward-looking statements at some point in the future, XCF Global specifically disclaims any obligation to do so.
SOURCE: XCF Global, Inc.
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