- Anaergia Inc (TSX: ANRG: CA) announced Wednesday that it has entered into a definitive agreement for the sale of $15.6 million of Inflation Reduction Act investment tax credits generated by its subsidiary, Rhode Island Bioenergy Facility Holdco, LLC.
- Investment tax credits for qualified individuals The biogas property was generated from the project built by the RIBH subsidiary in Johnston, Rhode Island.
- The ITC transaction is expected to close on January 29, 2024.
- Additionally, the company announced that it and Marny Investissement SA continue to work to satisfy certain interim conditions with respect to the previously announced equity investment of C$40.8 million.
- While initially expected to be met by December 22, 2023, the provisional conditions must be satisfied or waived in accordance with the subscription agreement 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$13.6 million each.
- Source: Press release
