Par Pacific closes JV with Mitsubishi/ENEOS for 36.5% stake in renewable fuels unit

PAR PACIFIC HOLDINGS, INC.

Joint venture closed Oct 21; Alohi (Mitsubishi/ENEOS) acquired 36.5% equity for $100M in cash.
Par Pacific retains 63.5% and will complete/operate the renewable fuels facility at its Kapolei refinery.
Facility expected by end of 2025; will produce ~61M gal/year of renewable diesel, SAF, renewable naphtha.
Par Pacific committed up to $21M additional cash contributions to complete construction.

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