Xcf Global, Inc. · NASDAQ:SAFX
Xcf Global — Focus Impact BH3 NewCo — SPAC Merger (March 2025)
32 slides from Xcf Global's SPAC merger presentation, Mar 14, 2025
Slide 1: Flying Clean with Sustainable Aviation Fuels
FLYING CLEAN WITH SUSTAINABLE AVIATION FUELS INVESTOR PRESENTATION / MARCH 2025
Slide 2: Disclaimer
DISCLAIMER This presentation and any accompanying oral presentation (this “Presentation”) is provided for information purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination between Focus Impact BH3 Acquisition
Slide 3: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This Presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “may”, “shoul
Slide 4: Forward-Looking Statements (Cont'd)
FORWARD-LOOKING STATEMENTS (CONT’D) Industry and market data used in this Presentation have been obtained from third-party industry publications and sources as well as from research reports prepared for other purposes. Neither XCF nor Focus Impact has independently verified the data contained from t
Slide 5: Forward-Looking Statements (Cont'd) - Use of Projections, Non-GAAP
FORWARD-LOOKING STATEMENTS (CONT’D) Use of Projections (Continued) The projected financial results reflect numerous assumptions, including assumptions with respect to general business, economic, market, regulatory and financial conditions, and various other factors, all of which are difficult to pre
Slide 6: Focus Impact BH3 Acquisition Co. Investing in Socially Forward Companies
FOCUS IMPACT BH3 ACQUISITION CO. INVESTING IN SOCIALLY FORWARD COMPANIES Focus Impact BH3 is a SPAC sponsored by Focus Impact Partners with a vision of bringing a great company that is creating a positive impact for the world to the public markets to accelerate its growth Focus Impact Partners is an
Slide 7: Investment Highlights
INVESTMENT HIGHLIGHTS Strong Regulatory and Market Tailwinds for Sustainable FuelsShift in customer sentiment and new regulatory policies in the US and Europe provide massive tailwinds for both SAF supply and demand, driving a need for additional plants Outstanding Business Model with a Differentiat
Slide 8: Experienced Management Team
Gregg Surette Chief Strategy Officer Greg Savarese Chief Marketing Officer Randy Soule 3rd Party Operations Partner, Head of Engineering, Procurement and Construction EXPERIENCED MANAGEMENT TEAM XCF has assembled a world-class management team with decades of experience, a strong track record of succ
Slide 9: XCF Global at a Glance
XCF GLOBAL AT A GLANCE XCF Global Capital intends to be a leading producer of sustainable aviation fuel in North America XCF has completed the acquisition of New Rise Renewables LLC, which owns and operates a Sustainable Aviation Fuel (SAF) production facility and New Rise SAF Renewables LLC which o
Slide 10: Aviation's Disproportionate Impact
AVIATION’S DISPROPORTIONATE IMPACT(1) International Aviation: 145.8% Domestic Transport: 23.8% Land Use and Forestry: 18.4% Agriculture: (21.5%) Residential & Commercial: (28.2%) Industry: (35.2%) Energy Supply: (39.5%) International Shipping: 33.8% Waste: (38.9%) Aviation’s share of global energy-r
Slide 11: What Is Sustainable Aviation Fuel?
WHAT IS SUSTAINABLE AVIATION FUEL? SAF is synthetic kerosene derived from non-food feedstocks such as waste oils and fats, green and municipal waste and non-food crops SAF is able to recycle CO2 absorbed by biomass during its lifetime rather than injecting new carbon into the system, reducing emissi
Slide 12: Aviation Industry Working Toward Decarbonization
AVIATION INDUSTRY WORKING TOWARD DECARBONIZATION (1) IATA “Climate Change Fact Sheet” (2) International Civil Aviation Organization (“ICAO”) “On Board A Sustainable Future” (3) ICAO “Long Term Aspirational Goal for International Aviation” (4) Company websites; www.sciencebasedtargets.org, “Target Da
Slide 13: SAF: Fueling Green Aviation
SAF: FUELING GREEN AVIATION 35.2% eVTOL 3.0% Hybrid Aircraft 20.7% Electric Aircraft 1.3% Hydrogen Technology 39.7% Sustainable Aviation Fuel $7.4B Total Investments SHARE OF EQUITY INVESTMENTS INTO GREEN AERO TECH COMPANIES BY VERTICAL(2) “SAFs are the only viable near-term option to decrease emiss
Slide 14: XCF's Full Suite of Capabilities
XCF’S FULL SUITE OF CAPABILITIES XCF is bringing together a wide range of capabilities to become a leading SAF producer and building a strong foundation for continued expansion Growing Operating Base Reliable, Proven Technologies Versatile Feedstock Base Financing License agreement in place with Axe
Slide 15: Combine Onsite Feedstock Pretreatment with HEFA Technology
COMBINE ONSITE FEEDSTOCK PRETREATMENT WITH HEFA TECHNOLOGY XCF facilities employ a two-stage process to production, adding a pretreatment stage prior to hydrotreatment Hydroprocessed Esters and Fatty Acids (“HEFA”) HEFA technology involves converting fats, oils and greases (FOGs) into a high-quality
Slide 16: Reliable and Proven Hydrotreating Technology
RELIABLE AND PROVEN HYDROTREATING TECHNOLOGY (1) License agreement between New Rise Renewables and Axens (2) Standard for evaluating which technologies, under specific circumstances and characteristics, can be used for producing on specification neat SAF New Rise’s hydrotreating technology increases
Slide 17: Long-Term Agreement with World-Class Partner
LONG-TERM AGREEMENT WITH WORLD-CLASS PARTNER Supply & Offtake Agreement 15-year contract term A small fee will be paid to access Partner’s working capital used in obtaining non-food feedstock supply. This minimizes financial impact from changes in working capital cycle Phillips 66 will be purchasing
Slide 18: Favorable Regulatory Environment
FAVORABLE REGULATORY ENVIRONMENT (1) U.S. Environmental Protection Agency (EPA), D4 RIN = Renewable Identification Number for biomass-based feedstock (2) California Air Resources Board (CARB); weekly average transfer price (3) Internal Revenue Service (4) For facilities that satisfy the prevailing w
Slide 19: Governments Are Setting Targets to Use SAF
GOVERNMENTS ARE SETTING TARGETS TO USE SAF Governments around the world are setting targets to use Sustainable Aviation Fuels Sustainable Aviation Fuel Act(1) Targets 35% lower emissions by 2035; net zero by 2050 Mandates EPA to set low carbon standard for fuels Renewable Fuel Standards(2) Sets annu
Slide 20: XCF Is Ahead of Its Competition
XCF IS AHEAD OF ITS COMPETITION XCF holds a strategic early-mover advantage, with an operating SAF production facility in Reno, Nevada and a proven design that can be replicated across the nation Source: Company filings, press releases and XCF management Map Legend Status Sites Operational 6 Under C
Slide 21: Summary Financial Projections
SUMMARY FINANCIAL PROJECTIONS SAF production facility in Reno, Nevada began commercial production in February 2025 Adjacent SAF production facility to be developed and expected to begin operations in Nevada in 2027, with Florida and North Carolina plants projected to be converted by 2028 Projections
Slide 22: Multiple Levers for Continued Growth
MULTIPLE LEVERS FOR CONTINUED GROWTH OPERATING BASE EXPANSION Identify, acquire and convert additional sites into XCF SAF production facilities using XCF’s Nevada site as a design blueprint DECARBONIZATION SOLUTIONS Carbon capture, utilization and storage could decarbonize our platform and lead to a
Slide 23: Efficient Site Development with Attractive Returns
Illustrative Returns on Investment(1) EFFICIENT SITE DEVELOPMENT WITH ATTRACTIVE RETURNS Repeatable Site Development Process YEAR 1 YEAR 2 YEAR 3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Repeatable process for: Land Acquisition and Site Development Obtaining Permits and Approvals Negotiating Commercial S
Slide 24: XCF's Public Peer Universe
Key players competing in the drop-in renewable fuels space Some players are either developing new technologies that are not producing at commercial scale or have traditional refinery as a core business The different business models and cash flow visibility may impact investor views on valuation XCF’
Slide 25: Transaction Overview
TRANSACTION OVERVIEW PF Shares Outstanding (M) 158.9 Share Price ($) $10.00 PF Equity Value ($M) $1,589 (+) PF Debt ($M) $264 (-) PF Cash ($M) ($23) PF Enterprise Value ($M) $1,830 Transaction Highlights Sources & Uses Pro Forma Valuation Pro Forma Ownership Deal Structure Existing XCF shareholders
Slide 26: Appendix
APPENDIX
Slide 27: SAF Offtake Agreements in 2024
SAF OFFTAKE AGREEMENTS IN 2024(1) Purchaser Fuel Producer Announcement Date Total Offtake Volume (M Gallons) Term of Offtake Agreement Commentary November 27, 2024 1.1 HSBC, Cathay Pacific and EcoCeres partner for major sustainable aviation fuel initiative in Hong Kong November 27, 2024 49.5 MOU for
Slide 28: SAF Offtake Agreements in 2024
SAF OFFTAKE AGREEMENTS IN 2024(1) Purchaser Fuel Producer Announcement Date Total Offtake Volume (M Gallons) Term of Offtake Agreement Commentary April 21, 2024 First SAF supplied in Canada by Shell Aviation Uses Avelia, blockchain-powered digital SAF Book-and-Claim Various Various April 17, 2024 50
Slide 29: Risk Factors
RISK FACTORS Certain factors may have a material adverse effect on our business, financial condition and results of operations. If any of the following risks actually occur, either alone or in combination with other events or circumstances, our business, financial condition, results of operations an
Slide 30: Risk Factors (Cont'd)
RISK FACTORS (CONT’D) We face competition from established SAF producers and expect additional competition from new entrants currently developing SAF production facilities and possible additional entrants in the future, many of whom have greater resources and experience than we do. Future entrants t
Slide 31: Risk Factors (Cont'd)
RISK FACTORS (CONT’D) Inflation may adversely affect our profitability by increasing our costs. Natural or man-made disasters, social, economic and political instability, pandemics, epidemics or other disease outbreaks, and other similar events may significantly disrupt our and our customers’ busine
Slide 32: Thank You
THANK YOU. XCF Global