Biofuels maker XCF seeks to go public via SPAC
In Bulgaria, Renewables Now reported that US sustainable fuels maker XCF Global Capital Inc is negotiating a merger with a local special purpose acquisition company (SPAC) that values it at $1.75 billion and will introduce it as a publicly traded entity. XCF specializes in the production of renewable diesel, sustainable aviation fuel and other biofuels made from renewable sources, such as waste vegetable oil and animal fats. The New York-based firm has signed a letter of intent (LoI) with Focus Impact BH3 Acquisition Corp. The transaction is subject to various conditions, including completion of due diligence and signing a definitive agreement, according to the report. “This partnership into the public markets broadens our investor base and the combined company will have a strong platform to grow in the rapidly expanding market for sustainable fuels,” said XCF’s chief executive Mihir Dange.
Category: SAF
