SAF prices reached an all‑time high as global jet fuel markets tightened due to disruptions in the Strait of Hormuz
Domestic waste‑based SAF offers a proven, near‑term pathway to reducing aviation emissions
U.S.‑sourced SAF production provides supply chain stability and emissions reductions through domestically sourced feedstocks
XCF produces 38 million gallons per year of neat sustainable aviation fuel (SAF) that can be blended to deliver up to 100 million gallons of blended SAF, depending on the blend ratio at its New Rise Reno facility

HOUSTON, TX / ACCESS Newswire / March 23, 2026 / XCF Global, Inc. ("XCF") (NASDAQ:SAFX) a U.S. based sustainable aviation fuel (SAF) producer decarbonizing the aviation industry today issued a statement on the ongoing disruption to global aviation fuel markets caused by the Middle East conflict. As jet fuel and SAF prices surge to historic levels, XCF Global is sharing its perspective on what the current crisis reveals about the structural vulnerabilities of petroleum-dependent aviation fuel supply chains and the role domestic SAF can play in addressing them.

According to S&P Global Platts data, SAF prices in California reached an all-time high of 885 cents ($8.85) per gallon in the week ended March 4, 2026, a surge of more than 132 cents ($1.32) per gallon in a single week. Spot jet fuel prices on the US West Coast increased to 125.54 cents ($1.26) per gallon in early March; levels not seen since 2022. The disruption of tanker disruption of tanker traffic through the Strait of Hormuz, through which approximately 20 million barrels per day of crude and refined product normally flow, has driven distillate prices sharply higher across major global hubs.

XCF SAF utilizes domestic waste-based feedstock. These feedstocks are not impacted by the Middle Eastern crude supply. "Our focus remains on delivering high quality SAF to our partners, maintaining operational continuity, and supporting the aviation sector as markets stabilize. America's aviation sector remains deeply tethered to a global oil market that is inherently unstable. The feedstock, the technology, and the workforce to change that exist right here at home. Domestic waste-based SAF is not a future solution. We believe it can be made available now, that it can be scalable, and that it can be produced entirely from American materials. We believe the current crisis is bringing long-overdue attention to what domestic SAF producers have understood for years; a fuel whose supply chain begins and ends in the United States is a fundamentally different kind of energy security while mitigating climate impact" Chris Cooper, Chief Executive Officer, XCF Global

XCF Global believes that energy security and lowering emissions from aviation are not mutually exclusive. The events of recent weeks have brought that principle into focus for the aviation sector. As the market works through this period of volatility, XCF Global remains committed to expanding its domestic production.

About XCF Global, Inc.

XCF Global, Inc. ("XCF") is an emerging sustainable aviation fuel company dedicated to accelerating 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, positioning 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 to scale SAF globally. XCF is listed on the Nasdaq Capital Market and trades under the Ticker, SAFX.

To learn more, visit XCF.Global

Contacts

XCF Global: Corporate Comms
media@xcf.global

Source Note: SAF pricing data cited from S&P Global Platts, week ended March 4, 2026. Jet fuel spot price data from S&P Global Commodity Insights Strait of Hormuz throughput estimate from, EIA Short-Term Energy Outlook, March 2026

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 produce renewable diesel in commercial quantities without interruption during the ongoing SAF ramp-up process; (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 the final proxy statement/prospectus relating to the Business Combination filed with the SEC on February 6, 2025, 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.

View the original press release on ACCESS Newswire

Middle East Conflict Exposes America's Aviation Fuel Vulnerability: XCF Global Highlights the Case for Domestic Sustainable Aviation Fuel