In India, BioEnergy Times reported that XCF Global has announced the signing of a binding term sheet with New Rise Australia to accelerate the development of renewable fuel production facilities across Australia.
Under the agreement, New Rise AU will receive an exclusive 15-year license to utilize the design, layout, and configuration of XCF’s New Rise Reno facility to build and operate at least three SAF plants across the country. In return, XCF will acquire a 12.5% equity stake in New Rise AU, receive licensing fees, and secure one board seat.
Mihir Dange, CEO of XCF Global said, “Our partnership with New Rise AU accelerates XCF’s global growth strategy and highlights the scalability of our modular renewable fuel platform. Australia’s favorable policy environment, growing aviation sector, and abundant feedstock resources make it an ideal market for renewable fuel production. Through New Rise AU, we are bringing our platform to a new market, enabling rapid expansion, efficient capital use, and supporting Australia’s clean energy transition.”
The parties plan to finalize a definitive licensing agreement within 60 days, following customary due diligence and regulatory review. The agreement will cover intellectual property, branding, governance, performance milestones, and long-term operational coordination, according to the report.
More on the story.
