Focus Impact BH3 Acquisition Co.
Focus Impact BH3 Acquisition Co. is a Nasdaq-listed SPAC (ticker BHAC) that completed its 2025 business combination with XCF Global Capital, creating the first publicly traded pure-play synthetic sustainable aviation fuel producer in the United States.
- Company typePublic
- Founded2021
- HeadquartersFort Lauderdale, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Focus Impact BH3 Acquisition Co. does
Focus Impact BH3 Acquisition Co. is a Special Purpose Acquisition Company (SPAC) that completed its business combination with XCF Global Capital, Inc. in 2025. Originally incorporated as Crixus BH3 Acquisition Company in 2021, the entity raised $230 million in an October 2021 IPO on Nasdaq under the ticker "BHAC." In November 2023, Focus Impact acquired the sponsorship and management of the company, renaming it Focus Impact BH3 Acquisition Co. In March 2024, the company announced a definitive Business Combination Agreement with XCF Global Capital, a pioneer in synthetic sustainable aviation fuel (SAF) and renewable fuels, with the combination completed in 2025. The combined entity became the first publicly traded pure-play synthetic SAF producer in the United States, with XCF Global's Nevada facility beginning commercial SAF production in February 2025. Prior to the combination, the SPAC held approximately $50 million in cash in trust following a December 2022 charter amendment that extended the base maturity date.
The company's operating model is a blank-check acquisition vehicle: it does not sell products or services, has no traditional revenue stream, and exists solely to effect a merger, capital stock exchange, asset acquisition, share purchase, or similar business combination with one or more target businesses. Value creation is contingent on the operating performance of the combined entity (XCF Global), which is positioned in the SAF and renewable fuels sector — a market where global SAF production surged from roughly 600 million liters in 2023 to approximately 1.3 billion liters in 2024, and the global aviation fuel additives market is projected to grow from $917.8 million in 2025 to $1,398.4 million by 2032. Pricing and go-to-market mechanics are not applicable to the SPAC structure itself; the surviving entity's economics are tied to SAF commercial production, off-take agreements, and the regulatory backdrop supporting renewable aviation fuel.
The company is headquartered in Fort Lauderdale, Florida, incorporated in Delaware, and operates with a small team (1-10 employees) consisting of an executive leadership and board structure. Leadership comprises Carl Stanton (CEO), Wray Thorn (CIO), Ernest Lyles (CFO), Eric Edidin (Executive Chairman), Daniel Lebensoohn (Co-CEO), and directors Dia Simms and Troy Carter. Its parent sponsor is Focus Impact, a private equity firm. The sole customer-facing channel is investor relations communications via bh3ac.com, SEC filings, and press releases; securities (Class A Common Stock and Warrants) trade on Nasdaq under BHAC.
Focus Impact BH3 Acquisition Co. firmographics
Firmographics- Name
- Focus Impact BH3 Acquisition Co.
- Legal name
- Focus Impact BH3 Acquisition Co.
- Website
- https://bh3ac.com
- Company type
- Public
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Focus Impact BH3 Acquisition Co. is a Nasdaq-listed SPAC (ticker BHAC) that completed its 2025 business combination with XCF Global Capital, creating the first publicly traded pure-play synthetic sustainable aviation fuel producer in the United States.
- Ownership category
- akta.pro rank
Focus Impact BH3 Acquisition Co. industry classification
Industry- Product category
- Special Purpose Acquisition Company (SPAC)
- NAICS
- Investment Banking and Securities Intermediation (523150)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)
- akta.pro secondary industry
- Platform Buy-and-Build / Roll-Up Buyout (FSANABAI)
Keywords
Where Focus Impact BH3 Acquisition Co. is headquartered
LocationHeadquarters
- HQ city
- Fort Lauderdale
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Focus Impact BH3 Acquisition Co. business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Others
Revenue model
- SPAC Operations: As a special purpose acquisition company (blank check company), Focus Impact BH3 Acquisition Co. does not generate traditional operating revenue. Its purpose is to complete a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company raised $230 million in its October 2021 IPO and had approximately $50 million in cash in trust following a December 2022 charter amendment.
Distribution channels1 record
Marketing channels1 record
Focus Impact BH3 Acquisition Co. product offering
Product offeringCore offering
Focus Impact BH3 Acquisition Co. is a Special Purpose Acquisition Company (SPAC), also known as a blank check company, formed to effect a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more target businesses. The company raised $230 million in its October 2021 IPO on Nasdaq under the symbol BHAC and has announced a definitive Business Combination Agreement with XCF Global Capital, Inc., a sustainable aviation fuel producer, which was completed in 2025.
Product overview
Focus Impact BH3 Acquisition Co. is a single Special Purpose Acquisition Company (SPAC) product structured as a blank-check company. The company does not offer a multi-product portfolio; rather, it operates as one unified acquisition vehicle focused on combining with businesses that can benefit from the sponsor team's experience as entrepreneurs, investors, and operators. The company has announced a definitive Business Combination Agreement with XCF Global Capital, Inc., a sustainable aviation fuel pioneer, positioning the combined entity to become the first publicly traded pure-play synthetic aviation fuel producer in the United States.
Differentiator
Problem solved
Functional benefit
Products and services
- Focus Impact BH3 Acquisition Co. (Nasdaq: BHAC) A Special Purpose Acquisition Company (blank check company) listed on Nasdaq under the symbol BHAC. The SPAC was incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It was renamed from Crixus BH3 Acquisition Company after Focus Impact acquired sponsorship in November 2023 and completed a business combination with XCF Global Capital, Inc. in 2025.
Companies that use Focus Impact BH3 Acquisition Co.
Customer profileIdeal customer profiles2 records
Focus Impact BH3 Acquisition Co. technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Focus Impact BH3 Acquisition Co. partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- XCF Global Capital, Inc.coreXCF Global Capital, Inc. completed its business combination with Focus Impact BH3 Acquisition Company in 2025, creating the first publicly traded pure-play synthetic aviation fuel producer in the United States. XCF Global is a pioneer aiming to expand the market for sustainable aviation fuel and other renewable fuels, with its Nevada facility beginning commercial SAF production in February 2025.
Scale indicators3 records
Recent moves7 records
Expansion highlights5 records
Focus Impact BH3 Acquisition Co. competitors and assessment
Company assessmentDirect peers
- Gevo, Inc. Public U.S. company producing renewable hydrocarbons including sustainable aviation fuel (SAF). Directly comparable as a small-cap, publicly traded SAF producer pursuing similar airline and government offtake channels.
- Aemetis, Inc. Public U.S. renewable fuels company building SAF capacity alongside renewable diesel and ethanol. Comparable as a publicly traded SAF/renewable fuels platform targeting the same aviation decarbonization mandates.
- Velocys plc: SAF technology and project developer using Fischer-Tropsch conversion of waste and biomass feedstocks into jet fuel. Comparable as a smaller, SAF-focused public/venture-stage competitor pursuing the same mandates-driven end market.
- LanzaTech Global, Inc. Public carbon-capture-to-fuels company producing synthetic SAF and other fuels from industrial off-gases. Comparable as a publicly traded, capital-intensive synthetic SAF producer with policy-driven demand exposure.
Emerging players
- World Energy: Pioneer and one of the largest commercial SAF blenders/suppliers in North America. Comparable as a SAF-dedicated operating business competing for the same airline and corporate offtake contracts as XCF Global.
- Bloom Energy: Public clean-energy company operating in the broader decarbonization ecosystem adjacent to SAF. Comparable as a publicly traded clean-energy name that institutional investors may view as a substitute exposure to aviation/corporate decarbonization.
Broad incumbents
- Montana Renewables: Phillips 66's renewable fuels complex producing SAF and renewable diesel from tallow and vegetable oils. Comparable as a large, established renewable fuels platform competing with XCF Global for SAF volume and feedstock.
- Neste Oyj: Global leader in renewable diesel and SAF production and one of the largest SAF suppliers to major airlines. Comparable as an established, large-scale incumbent in the same renewable aviation fuels market.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat1 record
Key risks6 records
Key highlights6 records
Customer concentration
Focus Impact BH3 Acquisition Co. social profiles
Digital presenceFocus Impact BH3 Acquisition Co. financial estimates
Financial estimateRevenue estimate
Valuation estimate
Focus Impact BH3 Acquisition Co. leadership team
Management profileNumber of profiles
Profiles7 records
Focus Impact BH3 Acquisition Co. funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Focus Impact BH3 Acquisition Co. M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Focus Impact BH3 Acquisition Co.
What does Focus Impact BH3 Acquisition Co. do?
Focus Impact BH3 Acquisition Co. is a Special Purpose Acquisition Company (SPAC), also known as a blank check company, formed to effect a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more target businesses. The company raised $230 million in its October 2021 IPO on Nasdaq under the symbol BHAC and has announced a definitive Business Combination Agreement with XCF Global Capital, Inc., a sustainable aviation fuel producer, which was completed in 2025.
Is Focus Impact BH3 Acquisition Co. a public or private company?
Focus Impact BH3 Acquisition Co. is a public company. It is classified as public and is currently operating.
When was Focus Impact BH3 Acquisition Co. founded?
Focus Impact BH3 Acquisition Co. was founded in 2021. It employs 1 to 10 people.
Where is Focus Impact BH3 Acquisition Co. based?
Focus Impact BH3 Acquisition Co. is headquartered in Fort Lauderdale, United States, in the North America region.
How does Focus Impact BH3 Acquisition Co. make money?
One revenue line is on record: SPAC Operations.
Who are Focus Impact BH3 Acquisition Co.'s main competitors?
Direct peers on record are Gevo, Inc., Aemetis, Inc., Velocys plc and LanzaTech Global, Inc.. Emerging players are World Energy and Bloom Energy. Broad incumbents are Montana Renewables and Neste Oyj.
Does Focus Impact BH3 Acquisition Co. have an API?
No public API is recorded for Focus Impact BH3 Acquisition Co..
What industry is Focus Impact BH3 Acquisition Co. in?
Focus Impact BH3 Acquisition Co.'s product category is Special Purpose Acquisition Company (SPAC). Its primary akta.pro industry code is BPAHAOAL, Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory), with a secondary code of FSANABAI, Platform Buy-and-Build / Roll-Up Buyout. Its NAICS code is 523150 and its SIC code is 6211.