2023-12-27 06:50:09 ET
- Anaergia Inc ( TSX: ANRG:CA ) Wednesday announced the entry into a definitive agreement for a sale of $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 January 29, 2024.
- Additionally, the company announced 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 December 22, 2023, the interim conditions are required to be satisfied or waived pursuant to the subscription agreement by no later than December 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.
- Source: Press Release
For further details see:
Anaergia announces agreement for $15.6M sale of IRA tax credits