XCF, CRV sign deal to advance New Rise renewable fuels platform
XCF on June 30 signed a deal to push New Rise ANZ toward SAF and HVO production in Australia, New Zealand and Asia-Pacific. Air New Zealand still had no local SAF supply.
XCF Global on June 30 signed a joint commercialization deal to extend New Rise ANZ into Australia, New Zealand and Asia-Pacific SAF and renewable diesel markets. The agreement with Continual Renewable Ventures Pty Ltd and New Rise Australia Pty Ltd moves the platform from early-stage planning into a more structured development framework.
The platform supports proposed sustainable aviation fuel and renewable diesel, or HVO, development using XCF’s patent-pending site design and configuration and its modular renewable fuel platform. The latest accord follows a June 2025 memorandum of understanding for New Rise Australia and an October 2025 binding term sheet that called for a 15-year exclusive license to deploy XCF’s platform across Australia, a 12.5% equity stake for XCF, licensing fees and one board seat. XCF is also targeting development of three renewable fuel production facilities for the Australian platform.
For New Zealand, the deal fits a market with little domestic SAF supply. Air New Zealand’s 2021 SAF paper found there was no SAF supply in New Zealand, even as the airline framed SAF as the only near-term option for decarbonizing long-haul flying. In 2024, Air New Zealand bought 30 million litres of SAF manufactured by Neste in Singapore from waste and residue feedstocks, equal to 1.6% of its total fuel supply for FY25.
New Zealand’s Ministry of Transport published an Aviation Action Plan in 2025, and a July 2025 report assessed the economic impacts of sustainable aviation fuel in New Zealand. NZ Airports’ 2025 estimate put Australia at more than A$2 billion in government and industry support for a domestic SAF industry.
XCF is positioning its New Rise Reno facility in Nevada as the operating base for that expansion. In a June 2026 investor presentation, the company put New Rise Reno in ramp-up or startup mode and projected 2027 net revenue of $110 million to $120 million, alongside 40 million to 43 million gallons of renewable fuel production. In December 2025, XCF planned a $300 million investment to double total SAF production capacity to about 80 million gallons annually at New Rise Reno after New Rise Reno 2 is completed.
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