Montana Renewables, the renewables arm of Calumet Specialty Products Partners, has closed $50 million of project financing for the construction of a renewable hydrogen plant in Montana.
Stonebriar Commercial Finance provided the financing for the hydrogen project, which will complement Calumet's renewable diesel business in Great Falls, Mont.
Once complete, the plant will allow increased production of renewable diesel and further reduce the carbon intensity of products from Montana Renewables.
The renewable hydrogen plant is expected to become operational in fourth quarter 2022.