XCF Global, Inc. (NASDAQ:SAFX) shares jumped 16.57% in after-hours trading Thursday to $0.64 after the Houston-based sustainable aviation fuel producer announced a binding term sheet with Texas-based BGN INT US LLC for a global sustainable aviation fuel distribution and logistics partnership.
The spike in shares of the renewable energy company in the late trading session follows a 21.58% intraday decline, closing the regular session at $0.54, according to Benzinga Pro data.
BGN Deal Targets Global SAF Scale-Up
The deal announced on Thursday targets XCF’s New Rise Renewables Reno plant under a tolling framework, covering SAF, renewable diesel and renewable naphtha in Europe and the Middle East.
CEO Chris Cooper called the BGN deal “a critical step” in global commercialization.
BGN President Cenan Ozmeral said the partnership would make “SAF adoption practical and commercially viable for airlines seeking to meet tightening decarbonization targets.”
The definitive agreement remains subject to …
This post was originally published here
