XCF Global: Phillips 66 terminates offtake agreement; secures BGN term sheet for SAF tolling

XCF Global, Inc.

Phillips 66 terminated Supply and Offtake Agreement with New Rise Reno effective May 1, 2026; has suspended performance and demands setoff.
XCF signed binding term sheet with BGN for tolling SAF and renewable naphtha at Reno facility and potentially a second future site.
Term sheet targets 2,264 bpd SAF and 481 bpd renewable naphtha production.
XCF evaluating financial impact of Phillips 66 termination; seeks definitive BGN tolling agreement within 20 business days.

item 1.01 item 1.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

XCF Global, Inc. terminated Supply and Offtake Agreement with Phillips 66 Company (effective 2026-04-02).

Action: termination
Agreement: supply
Counterparty: Phillips 66 Company
Effective: 2026-04-02

Exact text from the filing

On April 2, 2026, Phillips 66 Company (“ Phillips 66 ”) delivered formal notice (the “ Notice ”) to New Rise Renewables Reno, LLC (“ New Rise ”), a wholly owned subsidiary of the Company, of the termination of the Supply and Offtake Agreement, dated May 23, 2017 (as amended, the “ Agreement ”), between New Rise and Phillips 66.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

XCF Global, Inc. entered into Term Sheet for a Renewable Fuel Tolling Agreement with BGN (effective 2026-04-09).

Action: entry
Counterparty: BGN
Effective: 2026-04-09

Exact text from the filing

On April 9, 2026, XCF Global, Inc. (the “ Company ”) entered into a Term Sheet for a Renewable Fuel Tolling Agreement with BGN, an independent global energy and commodities group, pursuant to which it is anticipated that the Company will provide the following services to BGN both at its New Rise Reno facility and, potentially, a second, future XCF facility:

View on SEC.gov

Browse all material agreements →

XCF Global, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-26-015928

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.