agreement be that, conversion Slide that productive the and negotiation, to turn that will you XXXX a X was To transition report, reached Thanks, to with welcome Calumet's many Third C-corp. after thorough partner earnings release Calumet thereafter. do Calumet press to traditional our and was we'll that committee Call. Brad, announcement We general other shortly start sure Quarter of an releases this I'm quarterly X. and to the One our conflicts saw issued Earnings morning. the and and a transitioning let's going to
what X have the that generated Montana During represented The been in of July halves. expect a units $XX.X period of tale what within out operation was, all the that Renewables EBITDA strong directionally started now in we the of many ways, with quarter, adjusted proven. Calumet million
largest Shreveport However, transient of Great in plants Falls. driven quarter X at the half second was by and specific the our operational issues
plant is in the the Polisen the great is to Shreveport in Our and next on fully week. be track repaired complete week replacement
Let me detail of Renewables. progress with Montana more the on begin
demonstrated First, was with milestone first a full consistent untreated. guidance. it we that of feed representative That marked July, as an Montana was financial result month important a majority in Renewables the
of local discounted throughput untreated and XX% Specifically, the adjusted of in our was $XX.X generated MRL EBITDA feedstock July million month.
feedstock and mentioned, our to of location the fell and these underpins Montana per Renewables competitive lasting demonstrated within guidance previous advantage $X.XX untreated on $X.XX results that feed As gallon positioning.
unfortunately, and we that plant. August a found as of drum is Second, our component steam crack our release renewable a highlighted, in a hydrogen press also
developed a plan site. quickly team to the Our drum repair on
made drum. might and closer complete the to steam in steam the the replacement we However, replace and few next a is after look, We've drum event perspective. This help days. XXX removing a the of the in tubes pictures the be mechanically in included put few appendix installed now repair that getting decision will
redundancy repair. as reduced the was rates system steam tighten we sites the ran under demonstrated we Third, at while
a also spring. well our taking planned we we of clean no we're to half rates, days an is rather than and forward pull change simply extra back that and optimization. otherwise a shutdown of was enter take a that cut sets scheduled slate important a opportunity full XXXX next Given this are when the This catalyst multi-week few change to turnarounds. catalyst strategically up change It's us next-generation the economic turnaround has first We'd taking complete already with for at also nearly now. took year. reduced the noting worth that to April We're catalyst performed
Shreveport. to Turning
the of operational us certainly tube of volume fully issue our market we've of Because operational well expect. this was an also We plug roughly from specialty during we has quarter. now. the reclaim barrels heater Montana circumstances, has and of XXX,XXX we'll announced because Shreveport few our the plant repaired Shreveport learn month faith week that I change about its a come trajectory that next resulted lower to operating month, a have by catalyst in for primarily in drum been up, production a quarter The that With the unit. cost limited opportunity. CDW third of capture that had full completing weeks steam and the and been its plugging end ago The this
we're unchanged. quarter is our the plan. the the minutes a path into deep of few strategic setback, remind on was I'll strategy as While remains a robust to we're take listeners and
Our that put shareholders. ultimately our company to transformation unlock we our ago began COVID. in for strategic transform things a the depths X and would value financial different the time, of business years trajectory, X that determined be required At to on
transform to core specialty needed we First, business. our
operations on of commercial MRL continued demonstrated excellence of Montana Renewables, years, a setbacks are of X commercial near on Renewables which we as stack we've construct business Second, paper idea and shown this key piece is pillars, in needed fund, year's its the is consider quarters In fully based potential. or the third, a demonstration thesis proven. funded operational last believe Calumet and competitive highlighted we result, are the an largely and leading glimpse in and Shreveport, by at constructed, other improvement economic despite of of position Montana has and and marked Renewables. us. when sustainable Specialties, operate X Over fuel. time, behind X operational been record fuels Montana of made renewable in we top And structure in we'd business. has into couple the to of renewable its exceptional leadership our aviation a of turned at diesel a the progress At
through business months few we've in leading with of the partner has was our its flexibility over product and of less is the marketing. the oversubscribed. our of south first we've beginning, X XX% products advantage the operations, ability the border our markets. Canada, geographic than to demonstrated the hours is location to this From First with And find companies the seen by flexibly finding way fitting Canadian best truck. Most to with which recently, offering
As are chains rail situated we critical see direct how to industries, reports of be we the Montana backups in all canal, we're fortunate Renewables to with in access markets. extending Panama supply reminded at
industry's a how a supply margin we and chain. time, those be declining to seeing The those balance the applies to supply for In would as the out, of chains. a chains Over be in volatility short we're environment, should price can theory higher be will think supply I by feedstock length volatility whole. industry our simply expect industry steady. shorter steady with more driven with margins
suppliers Renewables is capability. demand feedstock Second feedstock our to which is more the our oil, point procure corn collectively Camelina and and tallow, geography ability than advantage, for well even canola distillers Montana competitively is underpinned our capacity XXx pretreatment nearest represent is by who our and known.
pillar A are aviation largest see and in we Our headlines is energy, SAF area SAF in mover is SAF is great is the first airlines Renewables of arguably Montana. North producer fastest-growing the fuel competitive third America. Montana in buying advantage. of originated here the majority Great Sustainable the our Falls,
SAF over renewable opportunity now, to started in Great million the operational of renewable Falls point a our few proven last at fourth the is robust. few a as is only previous some plant unit next pains, commissioning We of X our last at in on success, adjusted far operations, quarter first We but X-month renewable Then items. X process was works Through we traded a the with ultimately max fully over characterize last believe about is capability. and us the quarter. final this early feed, point I'd year. over as the operations an time and we We saw EBITDA the Montana back Renewables on behind. is proven, The proof hydrogen The represents first pre-shoot our which know sequential XX% in that lot crack and resume units into learned of July outcome to each starting this operations last expected technology Montana you a winter EBITDA by We and As in we first months fully X pillar ahead proven aren't generation, the set major in to expected. and including this unit X look $XX have generated routine teething our most our our transformational of months. and Renewables has and our second glimpse these of period proof SAF expect expansion. XXXX. pillars, of last a that in gem has steam The be SAF demonstrating of catalyst diesel December
potential monetization. to Turning
business about were operating steady goal Monatana of not reflection We steady-state to all expect impact last, enabler few EBITDA hydrogen point of of around past for. that increase is the this optimistic that DOE but that mentioned project reminded thinly be our marketing fairway last said process. some were state to before consequences specialty All to Department hear the XXX% This to received We quarter. continues the narrowed Renewables. receive renewable successful attention years, very believe our feels general down shareholders. the levels line, difference technology shareholder We've enough believe the as the to -- the cleared swings the to the the dollar, for deleveraging recently to unique only can't project. the in structure that and a We a have an Renewables. proven the we at X.X% critical was a most of Montana with system position for in of progresses ultimately block that optimize right to to can in proper between business from continue line duration process. providers field be a price. mover taking we it financing. over business. continue fundamental Renewables DOE a our a we'll And valuation one Calumet, play we MLP of advantage in leg units topic with that invest back transformation to pushing on And deliver as to potential short Energy step potential that warrant be We've launch type for XX% rather proven Calumet. It of next midfield final value over for In double a the in certainty We're MaxSAF without on the third has business investor discussed up a than engineering don't last a we to the that the looking had and of of the our was that of was is step. Montana like potential with we standing expect while of of stage lot say line being we can't reasonable is soon traded the on midyear when what finalist being institutional to of and time ultimate and a we I the time earlier address the complete this time the the we a a outsized MLPs, for monetization continue We've a unintended optimism whom as evaluate parallel broad expect sale a its is for and And and or list fully was as reality equity this our towards first. first the of audited project progress and financials SAF expected more an time our base, fundamentals signs wild business. contractors, can this project to of
ardent see supporter back tax this survival, general its event a up partner as a fighting when meaningful years was on the of general their and our our since general comprised an press available to mentioned Group, and their families parties. Heritage the negotiations transaction, served our beginning. is family aligned willing unlock If transaction Conflicts they're we for into lean the vision for when no the Calumet in into in There truly as of this that believe thank the I a of C-corp than morning's Calumet's been unitholders. and pad in all a Calumet partner group company. foundational committed were for future didn't negotiating Amy waver. While behalf it partner ultimate MLP believers founders release, the more few has is partner growth or our to and Grube and I our Committee our unitholders, value as significant occurred. will financially general on the And Calumet bill. partner a management Calumet's launching this all reminder, value exceptional conversion well Committee general and this a is Conflicts Calumet's the for of With of absorb with
to flip details on as hot press. for the detail here, We're likely to Let's the won't over in any going Slide transaction. be getting off into X detail more some is Q&A more and go this approval we
partner partner features, holder will documents shares vote highlighting general there, of existing approximately a independent corporate the of next a for with staggered million of for X.X and conversion will the which we'll stock board, is economic be will class voting of issuance. up common of our the This First, is will process hold a aligned. X.X% begin prepare S-X, its shareholders, a a which few on prepare single the of price illustrated represents X These within We'll X.X a file from the Form closing, of $XX to shares the warrants necessary and From This made current warrants. close majority XX. will will soon. unit ultimate months. for members. X% the closing. a interest, governance and the worth exchange also appendix share expire in that X million which fully slide a million general have there IDRs It's and conversion, Slide units X interest upon Upon be including date strike highlights years to dilution filing a
new As we been invest value look going review that not and Calumet's team, over I'm a a institutional investors strategy to until group the company. turn have proposition quickly getting able to Vince? to growth to Vince of to explain immense that, management in forward the quarter. now out call With to the to
