Anaergia Inc., a global renewable fuels leader, is pleased to announce the entry into a definitive agreement for a sale of US$15.6 million of Inflation Reduction Act investment tax credits generated by its subsidiary, Rhode Island Bioenergy Facility Holdco LLC. The investment tax credits for qualified biogas property were generated from the project built by RIBH’s subsidiary in Johnston, Rhode Island.The ITC Transaction is anticipated to close by Jan. 29, 2024, and is subject to certain customary conditions. Proceeds will be used for transaction fees, funding of asset-level working capital and debt reserves, and limited distributions to RIBF members.Akin Gump Strauss Hauer &amp; Field LLP and Virentis Advisors LLC are advising RIBH in connection with the ITC transaction.Additionally, the company announces that it and Marny Investissement SA continue to work towards satisfying certain interim conditions in respect to the previously announced equity investment of C$40.8 million. While initially expected for satisfaction on Dec. 22, 2023, the interim conditions are required to be satisfied or waived pursuant to the subscription agreement by no later than Dec. 29, 2023. Under the terms of the strategic investment, the transaction will close in three tranches of 34,000,000 units of the Company for gross proceeds of C$13.6M each. The first, second and third tranches may close no later than Jan. 15, 2024, Feb. 15, 2024, and March 15, 2024, respectively. The closing of the first, second and third tranches are subject to a limited number of customary conditions. Please refer to the company’s news release dated Dec. 18, 2023, for more information with respect to the strategic investment.&nbsp;

2023/07/AnaergiaLogo_16897228629258_largethumb.jpg

2023/07/AnaergiaLogo_16897228629258_thumb.jpg

2023/07/AnaergiaLogo_16897228629258.jpg

Anaergia Inc. on Dec. 27 announced it has entered into a definitive agreement for a sale of US$15.6 million of Inflation Reduction Act investment tax credits generated by its subsidiary, Rhode Island Bioenergy Facility Holdco LLC.

Anaergia announces agreement for $15.6 million sale of IRA tax credits

Related Stories

EcoCeres and Chinese aviation partners launch SAF pilot program in China

Louisiana bill aims to boost the state’s wood pellet industry

Anaergia expands scope at 3 biomethane facilities being built in Italy

Sumitomo Corporation do Brasil and Cemvita partner to integrate production of bio-methane and bio-oil, a precursor of SAF in Brazil

DHL Express partners with Malaysia Aviation Group to reduce GHG emissions using SAF

Upcoming Events

2026 International Biomass Conference & Expo

Anaergia announces agreement for $15.6 million sale of IRA tax credits .css-7jxktu{position:absolute;bottom:0px;left:0px;right:0px;height:3px;border-radius:3px;background-color:var(--chakra-colors-brandBlack);}