Par Pacific announces joint venture to build Hawaii's largest renewable fuels facility, producing 61 million gallons annually.
Quiver AI Summary
Par Pacific Holdings, Inc. announced the closing of a joint venture called Hawaii Renewables, LLC, aimed at constructing a renewable fuels facility at its refinery in Kapolei, Hawaii. Mitsubishi Corporation and ENEOS Corporation, through Alohi Renewable Energy LLC, acquired a 36.5% equity stake in this venture for $100 million. Par Pacific will retain the remaining stake and operate the facility, expected to be the largest of its kind in Hawaii, producing about 61 million gallons per year of renewable diesel and other fuels. The facility's completion is anticipated by the end of the year. Par Pacific is an energy company that provides renewable and conventional fuels in the western U.S., operating significant refining and energy infrastructure assets.
Potential Positives
- Par Pacific successfully closed a joint venture with Mitsubishi Corporation and ENEOS Corporation, securing $100 million in cash for a 36.5% equity stake in Hawaii Renewables.
- The Renewable Fuels Facility will be the largest of its kind in Hawaii, with an annual production capacity of approximately 61 million gallons of renewable diesel, sustainable aviation fuel, and other low carbon products.
- This venture positions Par Pacific as a significant player in the renewable fuels market, aligning with ongoing energy transition trends and potential regulatory incentives for cleaner fuels.
Potential Negatives
- The joint venture structure, with Mitsubishi Corporation and ENEOS Corporation acquiring a significant stake, may indicate a reliance on external partners for the success of the Renewable Fuels Facility, potentially raising concerns about operational control.
- The lack of guarantees regarding the success of renewable fuels production as noted in the forward-looking statements creates uncertainty for investors about the feasibility of the project.
- Forward-looking statements highlight inherent risks and uncertainties that could materially affect actual results, suggesting potential volatility for stakeholders and investors.
FAQ
What is Hawaii Renewables, LLC?
Hawaii Renewables, LLC is a joint venture to construct a renewable fuels facility in Kapolei, Hawaii.
Who are the partners in the Hawaii Renewables venture?
The partners include Mitsubishi Corporation, ENEOS Corporation, and Par Pacific Holdings, Inc.
What products will the Renewable Fuels Facility produce?
The facility will produce renewable diesel, sustainable aviation fuel, renewable naphtha, and low carbon liquefied petroleum gases.
When is the Renewable Fuels Facility expected to be completed?
The Renewable Fuels Facility is expected to be completed by the end of the year.
What is Par Pacific Holdings, Inc.'s core business?
Par Pacific Holdings, Inc. is an energy company providing renewable and conventional fuels primarily in the western United States.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PARR Insider Trading Activity
$PARR insiders have traded $PARR stock on the open market 5 times in the past 6 months. Of those trades, 0 have been purchases and 5 have been sales.
Here’s a breakdown of recent trading of $PARR stock by insiders over the last 6 months:
- SHAWN DAVID FLORES (See Remarks) sold 8,062 shares for an estimated $278,139
- IVAN DANIEL GUERRA (Chief Accounting Officer) sold 5,500 shares for an estimated $193,105
- JEFFREY RYAN HOLLIS (See Remarks) sold 5,228 shares for an estimated $180,627
- TERRILL PITKIN (SVP, Planning & Commercial) sold 5,164 shares for an estimated $144,437
- TIMOTHY CLOSSEY sold 2,000 shares for an estimated $66,740
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PARR Hedge Fund Activity
We have seen 113 institutional investors add shares of $PARR stock to their portfolio, and 133 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ENCOMPASS CAPITAL ADVISORS LLC added 1,304,541 shares (+inf%) to their portfolio in Q2 2025, for an estimated $34,609,472
- BLACKROCK, INC. removed 1,118,141 shares (-11.8%) from their portfolio in Q2 2025, for an estimated $29,664,280
- FJ INVESTMENTS, LLC added 991,107 shares (+inf%) to their portfolio in Q2 2025, for an estimated $26,294,068
- AVENTAIL CAPITAL GROUP, LP added 782,015 shares (+668.5%) to their portfolio in Q2 2025, for an estimated $20,746,857
- SOLAS CAPITAL MANAGEMENT, LLC removed 693,577 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $18,400,597
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 681,190 shares (+89.9%) to their portfolio in Q2 2025, for an estimated $18,071,970
- CITADEL ADVISORS LLC removed 453,921 shares (-44.5%) from their portfolio in Q2 2025, for an estimated $12,042,524
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$PARR Analyst Ratings
Wall Street analysts have issued reports on $PARR in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Raymond James issued a "Outperform" rating on 10/17/2025
- Piper Sandler issued a "Overweight" rating on 09/11/2025
To track analyst ratings and price targets for $PARR, check out Quiver Quantitative's $PARR forecast page.
$PARR Price Targets
Multiple analysts have issued price targets for $PARR recently. We have seen 5 analysts offer price targets for $PARR in the last 6 months, with a median target of $40.0.
Here are some recent targets:
- Justin Jenkins from Raymond James set a target price of $45.0 on 10/17/2025
- Manav Gupta from UBS set a target price of $37.0 on 09/23/2025
- Nitin Kumar from Mizuho set a target price of $40.0 on 09/15/2025
- Nitin Kumar from Piper Sandler set a target price of $44.0 on 09/11/2025
- Neil Mehta from Goldman Sachs set a target price of $19.0 on 05/28/2025
Full Release
HOUSTON, Oct. 21, 2025 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (including its subsidiaries and affiliates, “Par Pacific”) today announced the successful closing of Hawaii Renewables, LLC (“Hawaii Renewables”), a joint venture to construct a renewable fuels facility (the “Renewable Fuels Facility”) and produce renewable fuels at Par Pacific’s refinery in Kapolei, Hawaii. Mitsubishi Corporation and ENEOS Corporation, through Alohi Renewable Energy LLC, acquired a 36.5% equity stake in Hawaii Renewables in exchange for cash consideration of $100 million. Par Pacific retained the remaining interest and will complete and operate the Renewable Fuels Facility through its affiliate, Par Hawaii Refining, LLC.
The Renewable Fuels Facility is expected to be completed by the end of the year and will be the state’s largest renewable fuels manufacturing facility, producing approximately 61 million gallons per year of renewable diesel, sustainable aviation fuel, renewable naphtha and low carbon liquified petroleum gases.
About Par Pacific
Par Pacific Holdings, Inc. (NYSE: PARR), headquartered in Houston, Texas, is a growing energy company providing both renewable and conventional fuels to the western United States. Par Pacific owns and operates 219,000 bpd of combined refining capacity across four locations in Hawaii, the Pacific Northwest and the Rockies, and an extensive energy infrastructure network, including 13 million barrels of storage, and marine, rail, rack, and pipeline assets. In addition, Par Pacific operates the Hele retail brand in Hawaii and the “nomnom” convenience store chain in the Pacific Northwest. Par Pacific also owns 46% of Laramie Energy, LLC, a natural gas production company with operations and assets concentrated in Western Colorado. More information is available at www.parpacific.com.
Forward-Looking Statements
This news release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to qualify for the “safe harbor” from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements include, without limitation, statements about the expected completion date, size and production of the Renewable Fuels Facility. There can be no assurances that Par Pacific will be successful in its renewable fuels production efforts, which are subject to various risks and uncertainties. We cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct. Should one of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. We do not intend to update or revise any forward-looking statements made herein or any other forward-looking statements as a result of new information, future events or otherwise. We further expressly disclaim any written or oral statements made by a third party regarding the subject matter of this news release.
Investor Contact:
Ashimi Patel Vitter
VP, Investor Relations & Sustainability
+1 (832) 916-3355
[email protected]
