Darling Ingredients Announces Agreement to Sell Approximately $150 Million in Production Tax Credits
Darling Ingredients announced an agreement to sell approximately $150 million in production tax credits, generated by its Diamond Green Diesel joint venture under the Inflation Reduction Act, to a corporate buyer. Proceeds from the sale are scheduled to be received by the end of the third quarter, subject to certain funding conditions.
Why it matters — DAR watchers would note the company is converting tax credits tied to its Diamond Green Diesel venture into cash, with proceeds expected before the end of the third quarter.