Darling Ingredients to Sell $125M in Production Tax Credits

Darling Ingredients Inc. has recently announced its plan to sell $125 million worth of production tax credits to a corporate buyer. This sale stems from the Inflation Reduction Act (IRA), which the company’s Diamond Green Diesel joint venture capitalized on to generate these production credits. The proceeds from this sale are expected in 2025, given that all funding conditions are met. Darling Ingredients is also proactively marketing additional tax credits created in 2025.

About Diamond Green Diesel

Diamond Green Diesel (DGD) is an equal partnership between Darling Ingredients Inc. and Valero Energy Corporation. This venture is capable of producing over 1.2 billion gallons annually, making DGD one of the largest producers of renewable diesel and sustainable aviation fuel globally.

About Darling Ingredients

Darling Ingredients Inc., a leading company in the field of circularity, utilizes the by-products of animal agriculture and food industries and converts them into valuable ingredients for various applications. These inputs are used to feed and nourish people, animals, and crops, and also contribute to the global production of renewable energy. The company operates more than 260 facilities across over 15 countries, processing approximately 15% of the world’s animal agricultural waste. Darling Ingredients is also responsible for about 30% of the world’s collagen production and stands as one of the largest producers of renewable energy. Visit darlingii.com to learn more. You can also follow them on LinkedIn.

Disclaimer:

This announcement may contain “forward-looking statements.” These statements are based on the company’s current expectations and beliefs, as well as various assumptions. It’s important to note that actual results may differ materially from those expressed or implied by these forward-looking statements due to a variety of risks and uncertainties. This includes issues related to the administration, guidance, or regulations associated with biofuel policies, such as the Section 45Z Clean Fuel Production Credit. It also includes risks pertaining to the qualification and sales of such credits and any failure to meet closing conditions for these sales. The company is not obligated to update any forward-looking statements, regardless of changes in circumstances or the occurrence of unanticipated events.