XCF Global Announces Agreement to Acquire Paramount, California Renewable Fuel Production Facility
Key Highlights
- ➤XCF agrees to acquire Paramount renewable fuel facility in California.
- ➤XCF expects to invest ~$30 million during the 9-12-month restart period.
- ➤XCF plans to more than double Paramount’s team to restart operations.
- ➤Acquisition expected to close before the end of 2026, subject to conditions.
- ➤Paramount facility sits less than 20 miles south of downtown Los Angeles.
Expert Statements
Chris Cooper, Chief Executive Officer of XCF Global
“The Paramount acquisition represents an additional exciting opportunity to meaningfully expand XCF's vertically integrated alternative fuel platform through the acquisition of premier refinery infrastructure and operational leadership.”
Chris Cooper, Chief Executive Officer of XCF Global
“We're very pleased to have the opportunity to take over the stewardship of this important renewable fuel production facility and bring on board the outstanding team of professionals dedicated to its success.”
Chris Cooper, Chief Executive Officer of XCF Global
“We look forward to working with the Paramount team and the community to successfully relaunch operations as New Rise Renewables Paramount and safely, reliably and conscientiously produce transportation fuel that supports our mission to reduce carbon emissions, enhance domestic energy resilience and afford alternative uses for US agricultural waste-products.”
HOUSTON, TX / ACCESS Newswire / October 20, 2026 / XCF Global Inc. ("XCF") (Nasdaq:SAFX), a growing U.S.-based producer of renewable diesel and sustainable aviation fuel ("SAF"), today announced that it has entered into a definitive agreement to acquire a renewable fuel production facility in Paramount, California through a newly formed subsidiary of XCF, New Rise Renewables Paramount, LLC.
Located less than 20 miles south of downtown Los Angeles, the Paramount facility builds on the site's long history in fuel production and its transition to renewable fuels, bringing together established infrastructure, technical expertise and domestic agricultural waste to energy processing technology. The site is strategically located near Los Angeles International Airport (LAX), which is one of the world's busiest and most strategically important aviation hubs, serving more than 76 million passengers annually. Its immense scale, global connectivity, and strategic importance position LAX at the forefront of the aviation industry's transition toward sustainable aviation fuel (SAF). XCF intends to welcome the experienced team at Paramount following the closing of the acquisition, with plans to more than double the size of the team to restart operations over the next 9-12 months.
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