The Albany Gazette - Reported 20% Surge in U.S. Diesel Futures Highlights Potential Role of Domestic Renewable Fuel Supply

HOUSTON, TX / ACCESS Newswire / July 21, 2026 / XCF Global Inc. ("XCF") (Nasdaq:SAFX), an emerging U.S.-based producer of renewable diesel and sustainable aviation fuel ("SAF"), today highlighted the role domestic renewable fuel production may play as U.S. diesel supplies tighten, diesel futures rapidly increase and fuel markets remain volatile.

A July 16, 2026, report by The Wall Street Journal described tightening U.S. diesel supplies and the potential implications for fuel prices and inflation. According to the report, U.S. diesel futures had increased approximately 20% since the beginning of the prior week and more than 85% since the start of 2026. The report also stated that the national average retail diesel price had reached $5.01 per gallon, with analysts projecting a potential additional increase of 20 to 25 cents per gallon. XCF believes these reported market conditions may highlight the potential value of additional domestic renewable fuel production. There can be no assurance that current market conditions will persist or that XCF will benefit from any such conditions.

As previously announced, XCF's New Rise Renewables Reno facility, which has a permitted nameplate production capacity of up to 38 million gallons per year, has begun initial production of renewable fuels, consisting primarily of renewable diesel. Actual production volumes may vary from nameplate capacity and are subject to continued commissioning, optimization, and customary operational requirements. As part of its planned operating configuration, the facility is designed to transition into SAF production, subject to continued commissioning, optimization, customary operational requirements, and the availability of sufficient capital and feedstock supply. No assurance can be given as to the timing or success of any such transition.

"Periods of fuel market volatility reinforce the importance of maintaining a diverse and resilient domestic fuel supply," said Chris Cooper, Chief Executive Officer of XCF Global. "Renewable diesel is a drop-in fuel that can be used in any diesel engine and with existing fueling infrastructure. As we continue advancing operations at our flagship refinery, we currently expect to supply renewable diesel to the market while working to progress toward our planned SAF operating configuration."

XCF believes operational flexibility may be an important differentiator as fuel markets evolve. The company's platform is designed to process certain waste-based feedstocks and produce renewable fuels that the company believes may support transportation decarbonization efforts. XCF currently plans to seek to increase renewable fuel production over time while maintaining the flexibility to respond to changing market conditions, subject to successful commissioning, operating performance, product demand, availability of financing, and other customary risks and uncertainties. There can be no assurance that the company will be able to increase production as planned or at all.

"Our long-term focus remains SAF, and we believe renewable diesel could play an important near-term role in supporting domestic supply reliability," Cooper added.

About XCF Global, Inc.

XCF Global, Inc. ("XCF") is an emerging sustainable aviation fuel company dedicated to supporting the aviation industry's transition to net-zero emissions. Our flagship facility, New Rise Renewables Reno, has a permitted nameplate production capacity of 38 million gallons per year, which we believe positions XCF as an early mover among large-scale SAF producers in North America. XCF is working to advance a pipeline of potential expansion opportunities in Nevada, North Carolina, and Florida, and to build partnerships across the energy and transportation sectors that are intended to support the scaling of SAF globally. XCF is listed on the Nasdaq Capital Market and trades under the ticker, SAFX.

To learn more, visit www.xcf.global

Contacts

XCF Global:
Corporate Comms
[email protected]

Cautionary Note Regarding Forward-Looking Statements

This Press Release 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", "should", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential" or "continue", or the negatives of these terms or variations of them or similar terminology. These forward-looking statements, including, without limitation, statements regarding XCF Global's expectations with respect to future performance and anticipated financial impacts of the recently completed business combination with Focus Impact BH3 Acquisition Company (the "Business Combination"), estimates and forecasts of other financial and performance metrics, and projections of market opportunity and market share, are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by XCF Global and its management, are inherently uncertain and subject to material change. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) changes in domestic and foreign business, market, financial, political, and legal conditions; (2) unexpected increases in XCF Global's expenses, including manufacturing and operating expenses and interest expenses, as a result of potential inflationary pressures, changes in interest rates and other factors; (3) the occurrence of any event, change or other circumstances that could give rise to the termination of negotiations and any agreements with regard to XCF Global's offtake arrangements; (4) the outcome of any legal proceedings that may be instituted against the parties to the Business Combination or others; (5) XCF Global's ability to regain compliance with Nasdaq's continued listing standards and thereafter continue to meet Nasdaq's continued listing standards; (6) XCF Global's ability to integrate the operations of New Rise and implement its business plan on its anticipated timeline; (7) XCF Global's ability to raise financing to fund its operations and business plan and the terms of any such financing; (8) the New Rise Reno production facility's ability to produce the anticipated quantities of SAF without interruption or material changes to the SAF production process; (9) the New Rise Reno production facility's ability to continue producing renewable diesel in commercial quantities without interruption as the Company advances its planned transition toward SAF production; (10) XCF Global's ability to resolve current disputes between its New Rise subsidiary and its landlord with respect to the ground lease for the New Rise Reno facility; (11) XCF Global's ability to resolve current disputes between its New Rise subsidiary and its primary lender with respect to loans outstanding that were used in the development of the New Rise Reno facility; (12) payment of fees, expenses and other costs related to the completion of the Business Combination and the New Rise acquisitions; (13) the risk of disruption to the current plans and operations of XCF Global as a result of the consummation of the Business Combination; (14) XCF Global's ability to recognize the anticipated benefits of the Business Combination and the New Rise acquisitions, which may be affected by, among other things, competition, the ability of XCF Global to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (15) changes in applicable laws or regulations; (16) risks related to extensive regulation, compliance obligations and rigorous enforcement by federal, state, and non-U.S. governmental authorities; (17) the possibility that XCF Global may be adversely affected by other economic, business, and/or competitive factors; (18) the availability of tax credits and other federal, state or local government support; (19) risks relating to XCF Global's and New Rise's key intellectual property rights, including the possible infringement of their intellectual property rights by third parties; (20) the risk that XCF Global's reporting and compliance obligations as a publicly-traded company divert management resources from business operations; (21) LOIs and MOUs may not advance to definitive agreements or commercial deployment; (22) the effects of increased costs associated with operating as a public company; and (23) various factors beyond management's control, including general economic conditions and other risks, uncertainties and factors set forth in XCF Global's filings with the Securities and Exchange Commission ("SEC"), including its most recent Form 10-K, filed with the SEC on March 31, 2026, this Press Release and other filings XCF Global made or will make with the SEC in the future. If any of the risks actually occur, either alone or in combination with other events or circumstances, or XCF Global's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that XCF Global does not presently know or that it currently believes are not material that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect XCF Global's expectations, plans or forecasts of future events and views as of the date of this Press Release. These forward-looking statements should not be relied upon as representing XCF Global's assessments as of any date subsequent to the date of this Press Release. Accordingly, undue reliance should not be placed upon the forward-looking statements. While XCF Global may elect to update these forward-looking statements at some point in the future, XCF Global specifically disclaims any obligation to do so.

SOURCE: XCF Global, Inc.

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(B.Smith--TAG)