Par Pacific forms renewable fuels JV with Mitsubishi/ENEOS; $100M cash infusion

PAR PACIFIC HOLDINGS, INC.

Alohi (Mitsubishi/ENEOS) acquires 36.5% stake in Hawaii Renewables, LLC for $100M cash.
Facility at Kapolei Refinery expected to produce ~61M gal/yr of renewable diesel, SAF, naphtha, LPG.
Construction underway; completion and operational by end of 2025.
Par Pacific retains remaining interest and will lead execution and operations via Par Hawaii.
Closing expected H2 2025, subject to regulatory approvals and customary conditions.

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