---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-015928"
form_type: "8-K"
ticker: "SAFX"
cik: "0002019793"
company_name: "XCF Global, Inc."
filed_at: "2026-04-09T23:59:59+00:00"
generated_at: "2026-05-15T06:50:13.960566+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-26-015928
- form_type: 8-K
- ticker: SAFX
- cik: 0002019793
- company_name: XCF Global, Inc.
- filed_at: 2026-04-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 1.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2019793/000149315226015928/0001493152-26-015928-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2019793/000149315226015928/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-015928
- JSON: https://secwatch.observer/filing/0001493152-26-015928.json
- Plain text: https://secwatch.observer/filing/0001493152-26-015928.txt

## Key facts
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2019793/000149315226015928/0001493152-26-015928-index.htm
- Material Agreements
  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
  source text: 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:
  evidence_url: https://www.sec.gov/Archives/edgar/data/2019793/000149315226015928/0001493152-26-015928-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.