Focus Impact BH3 to acquire renewable diesel producer XCF Global Capital

Focus Impact BH3 Acquisition Corp., a special purpose acquisition company (SPAC) formed by Focus Impact Acquisition Corp. (NASDAQ: BHAC), has revealed plans to acquire XCF Global Capital, Inc., a New York-based leader in the production of sustainable fuels, including renewable diesel and sustainable aviation fuel. This proposed transaction, valuing XCF at $1.75 billion, is a significant move in the clean energy sector.

XCF’s Role in Renewable Energy

XCF Global Capital stands out as a prominent producer of renewable diesel and sustainable aviation fuel in North America. The company operates multiple plants across the region, focusing on fuels derived from renewable sources like waste vegetable oil and animal fats. These biofuels play a crucial role in reducing greenhouse gas emissions from transportation, aligning with global efforts to combat climate change.

Renewable diesel producer XCF Global Capital to go public in $1.75bn SPAC deal

Strategic Expansion and Market Impact

Carl Stanton, CEO of Focus Impact BH3, expressed enthusiasm about the Letter of Intent (LOI) with XCF, citing the company’s emerging leadership in sustainable fuel production. He highlighted the potential of this acquisition to capitalize on the increasing demand for clean energy. Mihir Dange, CEO of XCF, echoed these sentiments, emphasizing the partnership’s role in expanding their investor base and enhancing their position in the rapidly growing sustainable fuels market.

Transaction Details and Advisors

The completion of the acquisition hinges on due diligence, definitive documentation, and customary closing conditions. While there is no guarantee of the transaction’s execution, its success could create a formidable entity in the clean energy industry. Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, served as the exclusive financial and capital markets advisor to XCF Global Capital.