Calumet Announces Achievement of Key Operational Milestones at Montana Renewables

INDIANAPOLIS, April 18, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet", "its", "we", "our") announced today that its Montana Renewables subsidiary has achieved design throughput capacity at its Great Falls, MT facility.

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"We are excited to reach this operational milestone," said Todd Bormann, CEO of Calumet. "Montana Renewables started initial renewable fuels production in late 2022 and successfully commissioned its renewable hydrogen plant in March 2023. It's a testament to the hard work and dedication of our team to see our renewable hydrogen plant de-risked, demonstrating our unique ability to reduce the carbon intensity of our products at increased rates."

About Calumet Specialty Products Partners, L.P.

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) manufacturers, formulates, and markets a diversified slate of specialty branded products to customers in various consumer-facing and industrial markets. Calumet is headquartered in Indianapolis, Indiana and operates twelve facilities throughout North America.

About Montana Renewables, LLC

Montana Renewables, LLC is an unrestricted subsidiary of Calumet located in Great Falls, MT. Montana Renewables is permitted for 15,000 barrels per stream day ("bpsd") of renewable feedstocks which are converted into low-emission sustainable alternatives that directly replace fossil fuel products. The renewable manufacturing plant began operations in late 2022. As the world recognizes a sustainability responsibility, MRL is poised to make immediate carbon reductions and stands ready to grow and innovate further. This business is a leader in North America's energy transition, with our renewable products being delivered to Canada and the United States West Coast.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements and information in this press release may constitute "forward-looking statements." The words "expect," "continue," "should," or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate.

For additional information regarding factors that could cause our actual results to differ from our projected results, please see our filings with the Securities and Exchange Commission ("SEC"), including the risk factors and other cautionary statements in our latest Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other filings with the SEC.

SOURCE Calumet Specialty Products Partners, L.P.