ADDED
/DE_December 31, 2025 http://fasb.org/us-gaap/2024#PropertyPlantAndEquipmentNet http://fasb.org/us-gaap/2024#LongTermDebtAndCapitalLeaseObligationsCurrent http://fasb.org/us-gaap/2024#LongTermDebtAndCapitalLeaseObligations 0002013745 --12-31 2025 FY false 0 0 0 0 http://fasb.org/us-gaap/2024#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2024#CostOfGoodsAndServicesSold Calumet, Inc.
On February 27, 2026, there were 86,776,552 common shares outstanding.
The availability and cost of renewable identification numbers and results of litigation related to our SRE petitions could have a material adverse effect on our results of operations and financial condition and our ability to make payments on our debt obligations.
Montana Renewables is subject to a number of statutes and regulations that could have a material adverse effect on Montana Renewables operations.
Risks Related to Our Common Stock The price of our common stock may experience volatility.
Our amended and restated certificate of incorporation and amended and restated bylaws contain provisions that may make it more difficult for a third party to acquire control of us.
We are currently unable to fully utilize the clean fuel production tax credits ( CFPCs ) that we generate, and as such, we are exposed to fluctuations in the prices of CFPCs and the potential unavailability of parties willing to purchase CFPCs.
Our operations are managed using the following reportable segments: Specialty Products and Solutions; Performance Brands; Montana/Renewables; and Corporate.
At our Montana Renewables facility, we process a variety of geographically advantaged renewable feedstocks into renewable diesel, sustainable aviation fuel, and renewable naphtha.
In addition, we convert renewable natural gas and renewable propane to produce renewable hydrogen, which is used in our renewable refining processes.
REMOVED
/DE_December 31, 2024 http://fasb.org/us-gaap/2024#PropertyPlantAndEquipmentNet http://fasb.org/us-gaap/2024#LongTermDebtAndCapitalLeaseObligationsCurrent http://fasb.org/us-gaap/2024#LongTermDebtAndCapitalLeaseObligations 0002013745 --12-31 2024 FY false 0 0 0 0 Calumet, Inc.
On February 28, 2025, there were 86,207,118 common shares outstanding.
We are subject to compliance with stringent environmental and occupational health and safety laws and regulations.
Risks Related to Our Common Stock The price of our common stock may experience volatility Our amended and restated certificate of incorporation and amended and restated bylaws contain provisions that may make it more difficult for a third party to acquire control of us.
Our business is organized into the following reportable segments: Specialty Products and Solutions; Montana/Renewables; Performance Brands; and Corporate.
At our Montana Renewables facility, we process a variety of geographically advantaged renewable feedstocks into renewable diesel, sustainable aviation fuel, renewable hydrogen, renewable natural gas, renewable propane, and renewable naphtha.
Our highest current priority is streamlining the operations at our Montana Renewables facility and planning for expansion projects at the facility.
As part of this project design, in 2022 we converted the historical Great Falls refinery into two independent facilities: Calumet Montana Refining ( CMR ), a 15,000 bpd specialty asphalt facility; and Montana Renewables, a 15,000 bpd renewable fuels production facility.
We expanded our Montana Renewables facility in 2023, as we successfully commissioned a renewable hydrogen plant, a feedstock pre-treatment unit, and a sustainable aviation fuel unit.
The feedstock pre-treatment unit is expected to unlock the advantaged price and feedstock optionality we have in Montana and the commissioning of the sustainable aviation fuel unit made Montana Renewables one of the largest SAF producers in the western hemisphere in 2024.