America First Refining is a company developing the first new U.S. oil refinery in nearly 50 years, located at the Port of Brownsville, Texas, with groundbreaking planned for Q2 2026.

Ownership Structure

John V. Calce serves as the chairman and founder of America First Refining, leading the project from its roots in Element Fuels Holdings.

Nick Ayers, a prominent political figure and early investor (former chief of staff to Vice President Mike Pence), is the incoming chairman.

The company has secured major backing from Reliance Industries (led by Mukesh Ambani), an Indian energy giant, through a nine-figure investment and a landmark 20-year offtake agreement—valuing the venture in the ten-figure range and dubbed by President Trump as a "$300 billion historic deal."

Project Background

This initiative traces back to 2024 efforts by Element Fuels to build in the same location, now rebranded under America First Refining to align with national energy goals under President Trump's America First strategy.

President Trump personally announced the project on March 9, 2026, highlighting it as the largest energy deal in U.S. history and crediting partnerships with India.

Cantor Fitzgerald acts as the financial advisor, underscoring the project's credibility amid a shale oil boom.

Key Milestones

  • Investment : Nine-figure capital from Reliance, achieving a ten-figure valuation.
  • Offtake Deal : Binding 20-year commitment for U.S. shale oil processing and distribution.
  • Timeline : Construction starts Q2 2026; reinforces U.S. energy independence.
  • Scale : Touted as a $300B project, the biggest of its kind ever in America.

"This project represents a historic step forward for American energy production." – John V. Calce, Chairman

Trending Context (March 2026)

As of mid-March 2026, discussions exploded after Trump's announcement, with forums buzzing about Reliance's role and its implications for global energy shifts—India's investment signaling stronger U.S.-India ties.

Multi-viewpoint takes include optimism from energy hawks on job creation (thousands expected) versus skepticism from environmental groups on emissions, though backers emphasize domestic shale efficiency.

No public shareholder details beyond these principals and partners; it's primarily a private venture with strategic global investment.

TL;DR : Primarily founded and chaired by John V. Calce, with Nick Ayers incoming; majorly funded via Reliance Industries' investment as announced by President Trump.

Information gathered from public forums or data available on the internet and portrayed here.